Print
Email
Print Edition Stories
MHT's Efrain Viscarolasaga: Tech companies may have to wait for stimulus funds
MHT's Efrain Viscarolasaga: Preparing the smart grid for more power
MHT managing editor Rodney Brown on NECN: 22 tech companies give back to community
American Superconductor Corp. said Tuesday it has received $12 million in U.S. Department of Energy funding for work on smart grid demonstration projects.
The grants under the American Recovery and Reinvestment Act call for the Devens-based energy technology company (Nasdaq: AMSC) to develop a 138 kilovolt fault current limiter using the company’s superconductor wires. The wires can be used to control electrical distribution systems as a part of the smart grid. AMSC will receive $4.8 million as the project manager and wire supplier to the project.
The company also received $7.6 million to fund the second phase of its superconductor power cable project with the Long Island Power Authority. It will provide the high temperature superconductors for the transmission voltage extension of the cable system AMSC installed in April 2008.
“The Obama Administration has placed a high priority on smart grid technologies that enhance the efficiency and resiliency of our expanding power infrastructure,” said Dan McGahn, senior vice president and general manager of AMSC Superconductors, in a statement.
The DOE released $47 million for smart grid demonstration projects as a part of its stimulus funding mandate.
In May, American Superconductor reported the first quarterly profit in the company’s 22-year history, and a 63 percent increase in revenue for the company’s fiscal year of 2008.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
RSS Feeds
