AMSC Wins Navy Contract

Wednesday, October 25, 2006
American Superconductor Corporation (AMSC) signed a contract valued at $5.3m with the U.S. Navy's Naval Sea Systems Command (NAVSEA) for the design and optimization of high temperature superconductor (HTS) ship propulsion motors and power electronic drives. The first $1.9 million increment of funding that has been allotted for this contract will focus on motor, drive and electrical system options that are optimized for possible system integration into later flights of DDG-1000 and CG(X) surface combatant ships. This initial stage of the contract is expected to be completed in the next six months. ”This first in what we are confident will be a series of contracts from the United States Navy, will enable us to continue optimizing HTS motors and power electronic drives for use in future surface combatants as well as other classes of naval vessels," said Greg Yurek, CEO and founder of American Superconductor. "American Superconductor's technology offers significant and compelling benefits over conventional solutions, and we are committed to bringing these benefits to the Navy."

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