AMSC's coated conductor wires produced by proprietary
high volume, low-cost manufacturing method surpass DOE objectives by more than
a year
American Superconductor Corporation , a leading global
supplier of superconductor products and power electronic converters for the
electric power industry, today announced it has achieved reproducible results
in electrical performance over 10-meter lengths of its second generation,
coated conductor composite, high temperature superconductor (HTS) wires that
are significantly ahead of the goals set by the U.S. Department of Energy
(DOE).
(Photo:
http://www.newscom.com/cgi-bin/prnh/20020702/AMSCLOGO )
The DOE, in order to stimulate the commercial
production of lower-cost HTS wires, had previously challenged U.S. industry to
produce, by December 2003, second generation, coated conductor wires in
10-meter lengths with a minimum electrical performance of 50 Amperes of
electrical current per centimeter of width of the tape-shaped wires.
The reproducible results announced by AMSC today
better that goal by 15 months and at more than double the electrical
performance of the DOE target. AMSC's wire performance was verified by the
DOE's Oak Ridge National Lab to be over 100 Amps per centimeter of width over
10 meters. The Oak Ridge National Lab has partnered with AMSC and has developed
several key technologies for the manufacture of second generation wires. AMSC
has incorporated certain of the Oak Ridge technology into its proprietary
manufacturing process.
"The exciting and important aspect of these
goal-breaking results is that the wires are being made using a high volume,
low-cost manufacturing method," said Greg Yurek, chief executive officer
of American Superconductor. "This means we can expect to scale up this
process to make long lengths of second generation, coated conductor wires with
excellent electrical performance, and we can expect to achieve this performance
in wires with a price-performance ratio below that of copper. On the basis of
these and related results we have in hand, we intend to accelerate our second
generation product development efforts. We will continue to focus on production
of second generation wire that is a form, fit, function replacement for our
current commercial HTS wire."
Yurek also commented that the wire results announced
today put AMSC on a path to achieve price/performance goals that are expected
to accelerate the broader market adoption of HTS-based applications. "When
we initiated research on second generation wires in 1995, we projected that it
would take up to 10 years to achieve commercial price-performance ratios in
commercial quantities of this wire," said Yurek. "Based on the
results we now have in hand, we believe we are going to achieve that goal in
2005 as forecasted."
"These promising results are significant for two
very important reasons," said James Daley, Electric Reliability Team
Leader in DOE's Office of Energy Efficiency and Renewable Energy. "First
they reinforce the value of the partnerships between our national labs and
private industry in helping to develop and bring new technology to market and
providing a great return on our taxpayer's investment. Second, the results mean
that there is now a faster time-to-market for this promising technology
allowing us to apply the benefits of HTS products to meet the needs of our
country's electrical infrastructure."
In 1995, when AMSC initiated research on second
generation HTS wires, it partnered with EPRI, the electric utility think tank,
to investigate multiple pathways to achieve high performance, low cost second
generation wires. "American Superconductor has achieved a significant
benchmark on the critical path to commercial second generation HTS wire,"
said Paul Grant, science fellow at EPRI. "DOE and the industry now need to
set a new, higher benchmark for December 2003."
For over 15 years, AMSC has been at the forefront in
commercializing HTS wire technology for use in a variety of electric power
applications. The company's first generation, multi-filamentary composite wires
are commercially available today for applications such as power cables for use
in urban power grid upgrades, high efficiency utility generators and in the
development of advanced marine propulsion motors and other specialty magnets.
"We expect our first generation wires to remain the workhorse of the industry
for the next 3- 4 years until second generation wires are commercially
available in significant quantities," continued Yurek. "Because the
initial volume of second generation wire will be limited, customers for our
first generation wire will be first in line for the lower cost product as it
becomes available."
AMSC has demonstrated its ability to manufacture
multiple 10-meter lengths of second generation wires each with performance much
better than the 50 Amp/cm-width DOE milestone. Today's announcement is significant
because the proprietary process chosen by AMSC is expected to yield HTS wires
two to five times lower in cost with roughly the same electrical performance
level as first generation HTS wires now in production by AMSC.
A comparison of the multi-filamentary and coated
conductor composite wire architectures can be seen at
http://www.amsuper.com/wirefact.htm.
About American Superconductor
American Superconductor Corporation is a world leader
in developing and manufacturing products using superconductor wires and power
electronic converters for the electric power infrastructure. American
Superconductor's products, and those sold by electrical equipment manufacturers
that incorporate its products, can dramatically increase the bandwidth and
reliability of power delivery grids, reduce manufacturing and operating costs,
and conserve resources used to produce electric power. Founded in 1987, the
company is headquartered in Westborough, Mass. For more information, visit
http://www.amsuper.com/.
Any statements in this release about future
expectations, plans and prospects for the Company, including statements
containing the words "believes," "anticipates,"
"plans," "expects," "will" and similar
expressions, constitute forward looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. There are a number of
important factors that could cause actual results to differ materially from
those indicated by such forward-looking statements. Such factors include:
uncertainties regarding the Company's ability to obtain anticipated funding
from corporate and government contracts, to successfully develop, manufacture
and market commercial products, and to secure anticipated orders; the risk that
a robust market may not develop for the Company's products; the risk that
strategic alliances and other contracts may be terminated; the risk that
certain technologies utilized by the company will infringe intellectual
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several large Japanese companies; the amount and timing of the company's future
cash requirements and the availability of satisfactory financing sources.
Reference is made to these and other factors discussed in the
"Management's Discussion and Analysis of Financial Condition and Results
of Operation" section of the Company's most recent quarterly or annual
report filed with the Securities and Exchange Commission. In addition, the
forward- looking statements included in this press release represent the Company's
views as of the date of this release. While the Company anticipates that
subsequent events and developments may cause the Company's views to change, the
Company specifically disclaims any obligation to update these forward- looking
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