Monday, November 21, 2005

Energy

AMSC charges up Korean deal

American Superconductor Corp. of Westborough, a maker of alternative electricity systems, has signed an agreement with Korea Electrotechnology Research Institute to be an international collaborator on Korea's Development of Advanced Power Systems by Applied Superconductivity technologies program.

Financial details of the agreement were not provided.

As part of the collaboration, AMSC will be the sole supplier of high temperature superconductor (HTS) wire, providing 8.7 miles of first-generation wire for the project. AMSC expects to ship the wire before the end of calendar year 2005. The company will also provide technical assistance with cryogenics and transmission system engineering.

LS Cable of Korea will be responsible for the development and manufacture of the cable, terminations and cryogenics system. Currently in the final stages of planning, the project will test a 229 feet-long, cold dielectric cable rated for 22.9 kilo-volt (kV) and 1.26 kilo-Ampere (kA).

The agreement follows a year-long operating test by LS Cable of their first HTS power cable system.

AMSC stock opened the say at $7.99, up 31 cents from Friday's close.