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Wednesday, March 11, 2015 12:11:02 PM
"Successfully completed a full pilot production ramp and validated equipment design for full scale production."
During 2014, we achieved key milestones in wire performance, customer development and deployment of high capacity production equipment," Jeff Quiram, STI's president and chief executive officer, stated. "These important accomplishments position STI to complete the customer qualification activities necessary to secure commercial customer agreements and to then produce Conductus(R) wire on a commercial scale in the coming months."
2014 Highlights
Expanded customer base by doubling our customer count from 15 to 31.
Secured multiple orders for certification testing from large, multi-national industrial companies.
Entered into a strategic agreement with the Robinson Institute, an expert in the development of innovative superconducting products, to utilize Conductus HTS wire for rotating machines, transformers, scientific magnets, and MRI applications, a relationship that helps expand STI's reach into Asian markets.
Continued to innovate, improving Conductus wire performance to 730Amps/cm at 77K self field.
Successfully completed a full pilot production ramp and validated equipment design for full scale production.
Completed the assembly and achieved operational status of the company's Conductus wire production system, greatly expanding the installed annual capacity of Conductus wire from 4 kilometers to 750 kilometers in 2015 and beyond.
Joined with highly regarded members of the superconductivity community including LS Cable, Nexans and RWE to showcase the value proposition of superconducting fault current limiters (SFCLs) and high power superconducting cables (HPSCs) at CIGRE 2014.
Awarded a key US patent pertaining to the optimized composition of Rare Earth barium copper oxide (ReBCO) thin film superconductors using the RCE-CDR process, further strengthening STI's IP portfolio for the manufacturing of high performing, economical and commercially scalable ReBCO thin films.
Completed the sale of STI's equity interest in Resonant Inc. for $3.6 million, successfully executing on STI's continuing objective to monetize the value of non-core intellectual property.
"Then in early March 2015, STI successfully shipped 500 Amp Conductus wire including the required finishing layers to begin assembly of the high power superconducting cable demonstration project. This represented an important milestone as we continue to expect that this cable, which utilizes many strands of Conductus wire in a live test environment, will successfully carry thousands of amps and achieve a new record in superconducting power cable performance. We look forward to assisting our customer to achieve the expected results for this project."
"Reliable power delivery is essential to the success of the electrical grid worldwide. To address the ongoing challenge of power outages, which cost billions of dollars and continue to increase, SFCLs are being sold to power utilities by global electrical equipment companies. The increasing demand for SFCLs highlights the need for a reliable supply of HTS wire for this innovative application. We believe the transition from our pilot production system to full production will enable STI to meet the industry challenges of price, performance and availability facing the HTS wire market today. We are accomplishing significant improvement in the wire performance from our new production system as we prepare to deliver longer lengths of Conductus wire to meet the expected customer demand," Quiram added.
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