Published: January 26, 2010
China's XJ Group Orders Initial 100 Sets of Wind Turbine Core Electrical Components from AMSC
DEVENS, Mass. - (BUSINESS WIRE) - American Superconductor Corporation (NASDAQ: AMSC), a global power
technologies company, announced today that it has received an initial
order for 100 sets of wind turbine core electrical components from
China's XJ Group Corporation (XJ Group). The components will be deployed
in 2 megawatt (MW) doubly fed induction wind turbines that were
co-developed with AMSC Windtec , a wholly owned subsidiary of AMSC. XJ
Group erected its first
2 MW wind turbine in December 2009 and has completed construction of
a new
wind turbine manufacturing plant with an annual capacity of 1000 MW
in the city of Xuchang in the Henan province of China. This is the third
AMSC Windtec customer to enter volume production of advanced wind
turbines in China.
Founded in 1970 and based in Xuchang, XJ Group is one of China's largest
manufacturers of power equipment and transmission and distribution
technologies for the electric utility market. The company employs more
than 10,000 people worldwide and operates facilities in 30 countries
globally, including 40 locations throughout China. XJ Group is owned by
State Grid Corporation, which provides power to approximately 88 percent
of China.
"AMSC Windtec has provided a broad scope of services to XJ Group that
has helped us build a strong foundation for our new wind turbine
manufacturing business," said Li Fusheng, president of XJ Group. "We are
proud to enter production with our 2 MW wind turbines just 15 months
after beginning to work with AMSC Windtec, and we see great
opportunities ahead in the Chinese wind power market."
AMSC Windtec provided XJ Group with designs for a 2 MW doubly fed
induction wind turbine under a contract signed
in late 2008. In addition to utilizing this standard AMSC Windtec 2
MW doubly-fed induction wind turbine design, AMSC Windtec and XJ Group
jointly adapted the turbines for specific environmental and wind
conditions, such as low average wind speeds, low air density and severe
climates encountered in certain regions of China.
"XJ Group is a highly respected power equipment manufacturer and service
provider to the electric utility industry," said Dan McGahn, president
and chief operating officer of AMSC. "They have done an excellent job of
quickly entering production of high-quality wind turbines. We believe XJ
Group's manufacturing acumen and strong ties to State Grid, China's
primary grid operator, will enable them to become very successful in the
wind industry."
AMSC's wind turbine electrical control systems and core electrical
components include the company's proprietary PowerModule
power converters, pitch and yaw converters, SCADA systems and other
power electronics. They enable reliable, high-performance wind turbine
operation by controlling power flows, regulating voltage, monitoring
system performance, controlling the pitch of wind turbine blades and the
yaw of the turbines to maximize efficiency.
About
XJ Group Corporation
XJ Group is a leader in China in power equipment manufacturing and
services for power generation, transmission and distribution that enable
global utility and industry customers to improve their performance and
efficiency. The XJ Group of companies operates in all over China and
around 30 countries for the last 38 years. For more information, visit http://english.xjgc.com/Company.asp.
About
American Superconductor (NASDAQ: AMSC)
AMSC offers an array of proprietary technologies and solutions spanning
the electric power infrastructure - from generation to delivery to end
use. The company is a leader in alternative
energy, providing proven, megawatt-scale wind turbine designs and
electrical control systems. The company also offers a host of Smart
Grid technologies for power grid operators that enhance the
reliability, efficiency and capacity of the grid, and seamlessly
integrate renewable energy sources into the power infrastructure. These
include superconductor power cable systems, grid-level surge protectors
and power electronics-based voltage stabilization systems. AMSC's
technologies are protected by a broad and deep intellectual property
portfolio consisting of hundreds of patents and licenses worldwide. More
information is available at www.amsc.com.
American Superconductor and design, Revolutionizing the Way the World
Uses Electricity, AMSC, Powered by AMSC, D-VAR, dSVC, PowerModule,
PQ-IVR, Secure Super Grids, Windtec and SuperGEAR are trademarks or
registered trademarks of American Superconductor Corporation or its
subsidiaries. All other brand names, product names or trademarks belong
to their respective holders. The Windtec logo and design is a registered
European Union Community Trademark.
Any statements in this release about future expectations, plans and
prospects for the company, including our expectations regarding the
future financial performance of the company and other 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
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results to differ materially from those indicated by such
forward-looking statements. Such factors include: we have a history of
operating losses, and we may incur losses in the future; a significant
portion of our revenues are derived from a single customer, and a
reduction in business with this customer could adversely affect our
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common stock may experience extreme market price and volume
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materially and adversely affected; we may not realize all of the sales
expected from our backlog of orders and contracts; many of our revenue
opportunities are dependent upon subcontractors and other business
collaborators, and a reduction in orders stemming from these companies
could adversely affect our operating results; our products face intense
competition, which could limit our ability to acquire or retain
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qualified personnel and our inability to do so could significantly
damage our business and prospects; and our international operations are
subject to risks that we do not face in the U.S., which could have an
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AMSC Contact:
Jason Fredette, 978-842-3177
Director,
Corporate Communications
Email: jfredette@amsc.com
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