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AMSC Announces $21 Million of New Energy Power System Orders
Mining and Semiconductor Industries Drive Demand AYER, Mass., Aug. 03, 2021 (GLOBE NEWSWIRE) -- AMSC® (NASDAQ: AMSC), a leading system provider of
About this update from American Superconductor Corporation
[{"type":"text","content":"Mining and Semiconductor Industries Drive Demand\nAYER, Mass., Aug. 03, 2021 (GLOBE NEWSWIRE) -- AMSC® (NASDAQ: AMSC), a leading system provider of megawatt-scale power resiliency solutions that orchestrate the rhythm and harmony of power on the grid™ and protect and expand the capability of our Navy’s fleet, today announced $21 million of new energy power systems orders. This includes orders for reactive compensation, enclosed capacitor banks, harmonic filters, voltage controllers, as well as rectifiers and transformers from the Company’s recent acquisition of Neeltran™. “Leveraging the strong combination of our new energy power systems solutions, bookings are off to a strong start for the year. Mining and semiconductor are becoming two key target markets for our business,” said Daniel P. McGahn, Chairman, President and CEO, AMSC. “We are beginning to see the initial benefits of our two recent acquisitions as we present more content to customers. We expect our Grid business to drive revenue growth in fiscal 2021.” AMSC’s new energy power systems solutions include D-VAR and VVO offerings as well as the recently acquired NEPSI and Neeltran businesses. Customers utilize AMSC’s solutions to provide voltage control, power factor correction, and reactive compensation to stabilize the power grid and prevent undesirable events such as voltage collapse. The systems are designed to detect and instantaneously compensate for voltage disturbances. Along with Neeltran, AMSC offers power conversion products. These products include transformers and rectifiers. Additionally, the systems help utilities manage their power quality concerns and expand grid capacity for renewable distributed generation. About AMSC (NASDAQ: AMSC) AMSC generates the ideas, technologies and solutions that meet the world’s demand for smarter, cleaner … better energy™. Through its Gridtec™ Solutions, AMSC provides the engineering planning services and advanced grid systems that optimize network reliability, efficiency and performance. Through its Marinetec™ Solutions, AMSC provides ship protection systems and is developing propulsion and power management solutions designed to help fleets increase system efficiencies, enhance power quality and boost operational safety. Through its Windtec® Solutions, AMSC provides wind turbine electronic controls and systems, designs and ...