Greg Yurek News

American Superconductor Corporation, a global power technologies company, and South Korea-based Hyundai Heavy Industries Co., Ltd. (Korean Stock Exchange: HHI) announced that they have expanded their strategic alliance to include the joint development of a five megawatt (MW) full conversion wind turbine primarily for use in the burgeoning offshore wind industry. Under the terms of the alliance, the five MW wind turbine design will be jointly developed by HHI and AMSC's wholly-owned AMSC Windtec(TM) subsidiary. Once HHI begins volume production of the wind turbines, which is expected to commence by the end of 2011, HHI will purchase power electronic components for the five MW wind turbines from AMSC.

American Superconductor Corporation (NASDAQ: AMSC), a global power technologies company, announced that Daniel P. McGahn has been promoted to the position of President and Chief Operating Officer. In this role, McGahn will be responsible for AMSC’s day-to-day global operations. He will continue to report to AMSC founder and Chief Executive Officer Greg Yurek. McGahn joined AMSC in December 2006 as Vice President, Strategic Planning and Corporate Development. His primary initial objective was to set up and operate AMSC China. McGahn hired and developed the core AMSC China team, including AMSC China’s general manager, drove a strategic site selection process based on customer and supply chain requirements…

the U.S. to the public. the next two weeks. the company has decided not to pursue. Yurek, chief executive of American Superconductor.

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. 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…

U.S. Navy's Office of Naval Research (ONR) to continue the design and development of high temperature superconducting (HTS) motors and related subsystems for electric ship propulsion. The company expects to complete this contract within the next nine months, and anticipates receiving additional contracts from the Navy leading to initial sea trials of an HTS propulsion system by the end of 2003. The latest contract calls for the design and fabrication of components for pod-contained, HTS propulsion motors. Propulsion thrusters comprise hydrodynamically shaped pods that contain an electric motor to drive a propeller. motors. Attached to the external hull of a ship, they look very much like an aircraft engine attached to the wing of an airplane and serve a similar purpose.

American Superconductor Corporation CEO Greg Yurek is scheduled to present at the International Superconductivity Industry Summit (ISIS), a gathering of top organizations from around the world involved in the development and commercialization of superconductor technology. The theme of this year's conference is "Keys Toward Commercialization." Yurek will speak at the 11th annual summit, held this year in Tokyo, on the topic of High Temperature Superconductor (HTS) technologies in electric power applications. He will address the performance of today's HTS wires and the manufacturing capacity to produce them. In particular, he will cover key market opportunities for HTS applications and progress towards their commercialization.

American Superconductor Corporation has named David Paratore senior vice president and general manager of its Wires business unit, which manufactures and sells the company's high temperature superconductor (HTS) wire. The announcement was made in conjunction with several other promotions or newly expanded assignments for corporate and business unit staff. general manager of AMSC's SuperMachines business unit. became part of the Power Electronic Systems business. Whitney, a subsidiary of United Technologies Corporation. Superconductor. including our $70 million ship propulsion motor contract with the U.S. said Greg Yurek, chief executive officer. the time is right to move Dave into this key role. marketing and will continue to report to Yurek. Systems from 1982 to 1992.

American Superconductor Corporation announced it has been awarded an $8 million contract by the US Navy's Office of Naval Research (ONR) to build and deliver a 6,500 hp high temperature superconductor (HTS) motor designed for ship propulsion. contract with American Superconductor focused on developing HTS motor technology for future Navy electric warships. suitable for shipboard at-sea trials. and represents a ten-fold increase in torque over the 5,000-hp, 1,800 rpm HTS motor AMSC built and tested during 2001. power ratings expected to be utilized on electric warships and on large cruise and cargo ships. motors. Superconductor. ships not possible with conventional motor technology. technology is ready to demonstrate in an actual ship installation.

quarter of fiscal 2003, ended September 30, 2002. compared with $3.26 million for the second quarter of fiscal 2002. compared with an operating loss of $10.47 million for the year-ago quarter. for both the second quarter and the first half of the current fiscal year. the second quarter of fiscal 2002. year. million, compared to $21.55 million for the same fiscal period a year ago. the same fiscal period last year. 31, 2002. for the quarter ended June 30, 2001. function of time, see http://www.amsuper.com/investors.htm). executive officer of American Superconductor. commercial manufacturing startup. impact on cash burn during that period. Yurek. of this product line during the second half of this fiscal year. 31, 2003 would be in the range of $20 million to $28 million. Yurek.