American Superconductor Issues Results for 5,000-Horsepower HTS Electric Motor Prototype
Motor exceeds development goals; next prototypes focus on ship propulsion market
WESTBOROUGH, Mass.--(BUSINESS WIRE)--Jan. 16, 2002-- American Superconductor Corporation (NASDAQ:AMSC - news), a leading global supplier of superconductor products and power electronic converters for the electric power industry, today announced it has successfully completed load testing of the world's first 5,000-horsepower (hp), high temperature superconductor (HTS) prototype electric motor. The company also said it is continuing with its plan for the design, manufacture and testing of its first ship propulsion motor prototype, a much higher torque, lower speed motor than the prototype 5,000-hp motor.
The 5000-hp motor was engineered to validate the company's design of the HTS rotor field winding, the high efficiency refrigeration system and the fresh water-cooled stator technology. Published results establish the AMSC prototype as the world's most powerful HTS rotating machine. The company's patented, ultra-compact HTS electric motors are designed to reduce the size, weight and manufacturing costs of large industrial and ship propulsion motors, compared with conventional motors, while increasing net electrical efficiency.
Industry analysts forecast the conversion to electric ship propulsion will accelerate the growth of the current $400 million ship propulsion motors and generators market to $2-4 billion annually in the next ten years. The expected compound annual growth rate for electric motors and generators for ship propulsion applications is expected to be more than 20 percent. Today nearly 100 percent of all cruise ships and many cargo ships have transitioned to electric motor propulsion systems. In 2000, the U.S. Navy also announced its intention to transition to electric propulsion motors for future Navy ships.
``Motors of this type will revolutionize markets, such as marine propulsion and power generation, through the introduction of highly compact and efficient HTS machines and systems,'' said Greg Yurek, chief executive officer of American Superconductor. ``We believe we're on track with our earlier forecast of having commercial HTS ship propulsion motors available for sale in the 2004 timeframe.''
The company's 5,000-hp HTS motor utilizes an off-the-shelf cryogenic cooling system, and its total volume, including all auxiliary equipment, is 264 cubic feet. Because HTS motors employ very high power density HTS wires, new motor designs can be used to create high power electric motors that are as little as one-fifth the size of conventional motors that use copper wires.
Technical results for the prototype 5,000-hp HTS motor appear on American Superconductor's website (http://www.amsuper.com/5000hpparameters.htm), including the motor's physical characteristics and measures of its electrical efficiency. Among the results published today:
Motor Testing: Successfully passed full load testing at rated voltage, rated current and rated power. System was peak load tested to 7,000 hp at rated speed.
HTS Rotor Coils: Met or exceeded all performance goals for electrical and mechanical performance levels.
Refrigeration System: Maintained stable field winding temperature over a wide range of steady state and variable operating conditions in accordance with design goals. Net operating efficiency at full load, including the efficiency of the cooling system, was 97.2 percent.
Stator: Identified design and manufacturing changes capable of improving overall efficiency of the machine to 97.7 percent.
The prototype motor is undergoing extensive post-test evaluation of all critical components. American Superconductor expects to use these evaluations and results in the design and manufacture of its HTS ship propulsion motors.
About American Superconductor
American Superconductor Corporation is a world leader in developing and manufacturing products using superconductor wires and power electronic converters for the electric power infrastructure. American Superconductor's products, and those sold by electrical equipment manufacturers that incorporate its products, can dramatically increase the bandwidth and reliability of power delivery girds, reduce manufacturing and operating costs, and conserve resources used to produce electric power. Founded in 1987, the company is headquartered in Westborough, Mass. For more information, visit amsuper.com.
Certain statements in this release, 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 the uncertainties that: the company will be able to obtain the anticipated funding from corporate and government contracts; the company will be able to successfully develop and manufacture commercial products; a robust market will develop for the company's products; and the company will secure anticipated orders. Additionally such factors include: 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; the amount and timing of the company's future cash requirements and the availability of satisfactory financing sources. 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 periodic reports filed with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's estimates as of January 16, 2002. While the Company anticipates that subsequent events and developments may cause the Company's estimates 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 estimates or views as of any date subsequent to January 16, 2002.
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Contact:
American Superconductor Corporation
Jeff Nestel-Patt
508-621-4375
jnestel-patt@amsuper.com |
