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AMSC Receives $8 Million Order From Sinovel for Additional 1.5 Megawatt Wind Turbine Electrical Systems

Posted on: Wednesday, 21 March 2007, 09:02 CDT

American Superconductor Corporation (NASDAQ: AMSC), a leading energy technologies company, announced today its wholly owned subsidiary, Windtec™, has received a follow-on order for 150 additional wind energy electrical systems from Beijing-based Sinovel Wind Corporation Limited. The order, worth more than $8 million, is for the 1.5 megawatt (MW) wind energy systems Sinovel is manufacturing and selling in China. AMSC expects to ship all 150 electrical systems in its fiscal year ending March 2008.

Since late 2005, Windtec has received orders from Sinovel for more than 900 sets of electrical systems for wind energy systems rated at 1.5 MW, representing more than 1,400 MW of wind generated electricity. AMSC's wind energy electrical systems, based on its proprietary PowerModule™ power converter technology, provide reliable, high-performance wind turbine controls for customers such as Sinovel.

"Sinovel has quickly emerged as one of China's largest and most respected wind energy companies," said Greg Yurek, founder and chief executive officer of AMSC. "The relationship we have formed with Sinovel continues to expand as they aggressively ramp up manufacturing capacity of their 1.5 MW wind energy systems. Over the course of only 18 months, we have received five substantial electrical system orders from Sinovel worth nearly $50 million. Our relationship also recently grew to encompass development work on the 3 and 5 MW wind energy systems they will begin manufacturing over the next few years. We expect additional orders from Sinovel for electrical systems once they begin producing these higher power wind energy systems."

In calendar year 2006, Sinovel manufactured approximately 100 wind energy systems rated at 1.5MW each. According to the company's current plans, this number will increase to 500 systems in 2007, representing 750 MW of wind capacity available for sale in China. The Global Wind Energy Council estimates that approximately 1,347 MW of wind capacity was installed in all of China in 2006. Sinovel expects to increase its output of 1.5 MW wind energy systems from 500 in 2007 to 800 units in 2008 and 1,000 in 2010.

About AMSC

AMSC (American Superconductor Corporation - NASDAQ: AMSC) is a leading energy technologies company. The company develops and sells a wide range of products and solutions based on power electronic systems and high temperature superconductor (HTS) wires that dramatically improve the efficiency, reliability and quality of electricity during its generation, transmission, distribution and use. The company is a dominant force in alternative energy, offering grid interconnection solutions as well as licensed wind energy designs and electrical systems. As the world's principal supplier of HTS wire, AMSC is enabling a new generation of compact, high-power electrical products, including motors, generators, power cables, grid-level surge protectors, and advanced transportation and defense systems. AMSC also provides utility and industrial customers worldwide with voltage regulation systems that dramatically enhance power grid capacity, reliability and security, as well as industrial productivity. The company's technologies are protected by a broad and deep intellectual property portfolio consisting of hundreds of patents and licenses worldwide. More information is available at www.amsuper.com .

American Superconductor and design, Revolutionizing the Way the World Uses Electricity, AMSC, Powered by AMSC, SuperVAR, D-VAR, DVC, PQ-IVR, PowerModule and Windtec are trademarks or registered trademarks of AMSC.

Any statements in this release about future expectations, plans and prospects for the company, including statements containing the words "believes,""anticipates,""plans,""expects,""will" and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are a number of important factors that could cause actual results to differ materially from those indicated by such forward-looking statements. Such factors include: uncertainties regarding the company's ability to obtain anticipated funding from corporate and government contracts, to successfully develop, manufacture and market commercial products, and to secure anticipated orders; the risk that a robust market may not develop for the company's products; the risk that strategic alliances and other contracts may be terminated; the risk that certain technologies utilized by the company will infringe intellectual property rights of others; the competition encountered by the company, including several large Japanese companies. Reference is made to these and other factors discussed in the "Management's Discussion and Analysis of Financial Condition and Results of Operation" section of the company's most recent quarterly or annual report filed with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the company's views as of the date of this release. While the company anticipates that subsequent events and developments may cause the company's views to change, the company specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing the company's views as of any date subsequent to the date this press release is issued.

Source: Business Wire

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