Frost & Sullivan Selects American Superconductor as Recipient of 2006 Enabling Technology Award
AMSC Recognized for Market Leadership and Continual Technical Innovation and Excellence in Superconductor Products
San Antonio. — September 25, 2006 — Frost & Sullivan selected American Superconductor (NASDAQ: AMSC) as the recipient of the 2006 Enabling Technology Award in the transmission and distribution (T&D) equipment market in recognition of the company’s outstanding efforts in globally developing high temperature superconductor (HTS) wire and applications.
“The worldwide HTS market is at the advanced stage that it is today because of the successful, persistent efforts of American Superconductor. AMSC’s innovative technologies and product development efforts along with its market leadership have blazed a trail in the expanding global HTS market,” says Frost & Sullivan Research Analyst Subramanian Jayaraman. “This award, which was made after considering all of the key HTS wire competitors worldwide, recognizes AMSC’s market leadership and its continual technical innovation and excellence.”
American Superconductor is a company with many firsts in the HTS industry. In 2002, AMSC opened the world’s first commercial-scale HTS wire manufacturing facility and has sold HTS wire to over 90 customers in 20 countries for use in the development of a wide array of applications. With its patented 2G HTS wires known as “344 superconductors,” which have recently attained commercial-level performance in long lengths using a scalable, low-cost process, AMSC is also one of the world’s leading companies in the migration to the commercial production of 2G wires. AMSC expects to ship the world’s first commercial HTS grid reliability product – a SuperVAR® synchronous condenser – in December 2006 to Tennessee Valley Authority (TVA), AMSC is also the prime contractor and HTS wire supplier for a project to install the world’s first transmission voltage HTS power cable in a commercial grid, which is expected to be commissioned in the spring of 2007 on Long Island for Long Island Power Authority. And AMSC and Northrop Grumman expect to deliver the world’s first 36.5-megawatt (49,000 horsepower) HTS ship propulsion motor to the U.S. Navy this fall, which the companies believe will be the motor of choice for use in next generation naval warships.
“American Superconductor has pioneered the development of HTS technologies and in the creation of HTS products designed for the benefit of customers in the utility, alternative energy, industrial and military sectors, among others,” said Greg Yurek, CEO of American Superconductor. “The tremendous benefits of HTS wire have long been apparent, and we are now selling to early adopters in the commercial market. We are honored to be recognized for our leadership by Frost & Sullivan and will strive to maintain our competitive lead in terms of both the performance and the price of our HTS solutions.”
Each year, Frost & Sullivan presents the Enabling Technology Award to a company that has developed a technology that can benefit or revolutionize the industry. The Award recipient has developed a system or enabling component of a system that removes a significant stumbling block in the development of technology.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About American Superconductor
American Superconductor is the world’s principal vendor of high temperature superconductor (HTS) wire and large rotating superconductor machinery, and it is a world-leading supplier of dynamic reactive power grid stabilization products. AMSC’s HTS wire and power electronic converters are at the core of a broad range of new electricity transmission and distribution, transportation, medical and industrial processing applications, including dynamic reactive power grid stabilization solutions, large ship propulsion motors and generators, smart, controllable, superconductor power cables and advanced defense systems. The company’s products are supported by hundreds of patents and licenses covering technologies fundamental to Revolutionizing the Way the World Uses Electricity™. More information is available at www.amsuper.com.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company’s industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information please visit www.awards.frost.com or www.energy.frost.com.
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