Thursday, October 2, 2008

American Superconductor ships 10 miles of wire

By Mass High Tech Staff

Devens-based American Superconductor Corp. reports it has manufactured and shipped approximately 17,000 meters (56,000 feet) of its proprietary second-generation, high-temperature superconductor (HTS) wire for use in Project HYDRA, in New York. According to company statements, the shipment is the single largest shipment of 2G HTS wire by any company worldwide.

The superconductor wire is expected to be used as part of New York city’s project to bolster the electricity grid through an update of power cables and ancillary controls, to protect the local power grid from power surges and peak failures. American Superconductor (NASDAQ: AMSC) has been part of the $39 million project, called HYDRA, since 2007.

The U.S. Department of Homeland Security has committed $25 million in funding for the project, while Consolidated Edison Company of New York Inc. is the main partner, and AMSC is the wire supplier and the prime contractor for the project.

Branded as 344 superconductors, AMSC’s HTS wire is manufactured at the firm’s Devens facility. The technology is aimed at replacing traditional copper wire while providing up to 10 times more power than conventional cables. As part of a “Secure Super Grid” platform from AMSC, the system also suppresses power surges that can disrupt service. The technology creates multiple paths for electricity flow in power grids to ensure system redundancy when individual circuits are disrupted due to severe weather, traffic accidents or willful destruction.
 
AMSC employs approximately 382 employees and reported a $25.4 million loss on $112.4 million in revenue for its last fiscal year, which ended in March 2008.