Company to be Known as AMSC Core Wind and Grid Competencies Highlighted New Brand Launched at China WindPower 2011 and Solar Power International
American Superconductor Corporation (NASDAQ: AMSC) today announced that it is now doing business as AMSC and introduced a new corporate identity in order to foster strong, sustainable growth. AMSC's wind and grid offerings are now branded as Windtec Solutions and Gridtec Solutions to better reflect the company's expertise across the power lifecycle. The value of AMSC's solutions is described in the company's new tagline: "Smarter, cleaner … better energy."
"The new identity is just one of the changes that we are making to support a more diversified and sustainable company," McGahn continued. "In recent months, AMSC has taken actions to streamline and strengthen its business. We have created a flatter, leaner organization that is more nimble and flexible to emerging opportunities; aligned our business to better serve the wind and grid markets; and refined our strategic priorities to capitalize on our near- and long-term opportunities."
AMSC's business formerly was structured around technologies. The company now has aligned its business by end market. Through its Windtec Solutions, AMSC enables manufacturers to launch best-in-class wind turbines quickly, effectively and profitably by providing designs, support services and power electronics and controls. AMSC's Gridtec Solutions include engineering planning services and advanced grid systems that optimize network reliability, efficiency and performance from the point of generation through transmission and distribution.
McGahn summarized these initiatives: "Each day at AMSC, we are driven by our vision to power the world with better energy. We have aligned our business to focus on our core competencies, and this strategic investment will help us to communicate the new AMSC more clearly and more effectively to our employees and all of our customers worldwide."
China WindPower 2011
Today at China Wind Power 2011 in Beijing, AMSC will be presenting its portfolio of onshore and offshore wind turbine designs, advanced electrical control systems and grid interconnection solutions. These grid interconnection solutions now include its Wind-RT™ system which is being introduced at China WindPower. The Wind-RT system provides low voltage ride-through (RT) capability and was designed specifically for existing wind turbines employing squirrel cage induction generators in China. There are thousands of wind turbines that need to be retrofitted with a solution that meets the new grid code in China. AMSC will be at booth #EC09-2.
Solar Power International 2011
At Solar Power International in Dallas, Texas, AMSC will be promoting its SolarTie™ inverter, a fully optimized solution for utility-scale solar photovoltaic power plants. The solution is an outdoor, robust and highly efficient megawatt-class inverter system with an optional Solar Plant Controller for centralized control and monitoring. AMSC's SolarTie solution yields a lower levelized cost of electricity. AMSC will be at booth #3403.
About AMSC (NASDAQ: AMSC)
AMSC (formerly American Superconductor) generates the ideas, technologies and solutions that meet the world's demand for smarter, cleaner … better energy. Through its Windtec Solutions, AMSC enables manufacturers to launch best-in-class wind turbines quickly, effectively and profitably. Through its Gridtec Solutions, AMSC provides the engineering planning services and advanced grid systems that optimize network reliability, efficiency and performance. The company's solutions are now powering gigawatts of renewable energy globally and enhancing the performance and reliability of power networks in more than a dozen countries. Founded in 1987, AMSC is headquartered near Boston, Massachusetts with operations in Asia, Australia, Europe and North America. For more information: www.amsc.com.