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Technology Stocks : American Superconductor (AMSC) -- Ignore unavailable to you. Want to Upgrade?

To: gEc who wrote (528)	1/24/2002 8:11:14 PM
From: SemiBull	Respond to of 973

American Superconductor Updates HTS Wire Developments at Department of Energy's Wire Development Workshop Company says multifilament composite wire is the ``silicon of HTS'' WESTBOROUGH, Mass.--(BUSINESS WIRE)--Jan. 24, 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 that it is making public a technical presentation on HTS wire developments given Tuesday, January 22, 2002, at the Department of Energy's 2002 Wire Development Workshop in St. Petersburg, Florida, by Dr. Alex Malozemoff, the company's chief technology officer. The presentation can be located on the company's Web site at amsuper.com. The presentation outlines recent developments in multifilament and coated conductor composite HTS wire architectures and examines the roadmap to commercial acceptance for HTS wire products. ``This presentation provides results on the continued development of HTS wire currently underway at American Superconductor and where we see these efforts leading in terms of price/performance, application development, and the commercial acceptance of this technology,'' said Alex Malozemoff, chief technology officer of American Superconductor. ``Our multifilament composite BSCCO-2223 wire meets commercial performance specifications right now. Like silicon in the semiconductor industry, BSCCO multifilament composite wire is the material of choice in the HTS industry - it keeps getting better year over year in terms of overall price and performance relative to all newcomers. Additionally, the report outlines ongoing manufacturing and application research in coated conductor composite and MgB2 which could lead to future improvements in the price/performance of HTS wire.'' American Superconductor's wire is the highest performance, best-priced wire in the world. Further improvements in performance and reductions in manufacturing costs are expected now that the company is opening its new 355,000-square foot HTS wire manufacturing facility. AMSC expects to see a reduction of HTS wire costs from the current $200/kA-m to $50/kA-m over the next few years with a corresponding increase in electrical performance to over 150-170 Amps. 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 24, 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 24, 2002. -------------------------------------------------------------------------------- Contact: American Superconductor Corporation Jeff Nestel-Patt, 508-621-4375 jnestel-patt@amsuper.com