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AMSC Announces $22 Million of New Energy Power System Orders
Semiconductors and Industrials Drive Demand AYER, Mass., Oct. 06, 2021 (GLOBE NEWSWIRE) -- AMSC® (NASDAQ: AMSC), a leading system provider of megawatt-scale
About this update from American Superconductor Corporation
[{"type":"text","content":"Semiconductors and Industrials Drive Demand\nAYER, Mass., Oct. 06, 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 $22 million of new energy power systems orders. This includes orders for reactive compensation, enclosed capacitor banks, harmonic filters, voltage controllers, rectifiers and transformers. “Our new energy power systems business continues to expand and is accelerating. Our bookings momentum was strong at the start of the fiscal year, and we expect this strength to continue into the second half of fiscal 2021,” said Daniel P. McGahn, Chairman, President and CEO, AMSC. “Our two recent acquisitions, along with our organic business, are all contributing to our bookings momentum. We expect our Grid business to drive total revenue growth for the Company again in fiscal 2021.” AMSC’s new energy power systems solutions include D-VAR® and VVO offerings as well as 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 engineering services that reduce the cost of wind...