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Technology Stocks : Intermagnetics (IMG) -- Ignore unavailable to you. Want to Upgrade?

To: Gerald Thomas who wrote (2742)	6/9/1998 10:53:00 AM
From: Gerald Thomas	Read Replies (1) \| Respond to of 3448

Looks like the SMES product was for $1 million ...whether they got the full amount in the fourth quarter...??? Air Force orders storage system from local manufacturing firm * Intermagnetics General Corp. (AMEX: IMG) in Latham has completed a $1 million contract with the U.S. Air Force for the installation of a superconducting magnetic energy storage system at the Air Force Research Laboratory at Tyndall Air Force Base in Panama City, Fla. The IPQ-750 system, which was developed by IGC's Magnet Business Group, protects critically important electric equipment against voltage sags and power interruptions, and provides round-the-clock, high-quality current to electric loads sensitive to electrical disturbance. The system stores electricity in a superconducting magnet for release when needed, and is an environmentally friendly alternative to batteries. Kamal Kalafala, IGC's program manager for the project, said the Air Force ordered a "top-of-the-line model with a number of high-tech features to protect the integrity of a number of critical laboratories." IGC, a manufacturer of superconducting magnets and low-temperature refrigeration equipment, expects to market the system to industrial end-users and electric utilities.