AAER choses AMSC for wind turbine licence
2007-10-03 08:35 ET - News Release
Mr. Dave Gagnon reports
AMSC SELLS FIRST NORTH AMERICAN WIND TURBINE LICENSE TO CANADA'S AAER INC.
American Superconductor Corp., a leading energy technologies company, has signed two licensing contracts with AAER Inc. Under the terms of the contracts, AMSC's wholly owned Windtec subsidiary will license to AAER the design for its WT-2000sg, a proprietary two-megawatt wind turbine. The licences provide AAER with the right to manufacture, sell and commission the wind turbines in Canada, the United States, Mexico, France and the United Kingdom.
In addition to multimillion-dollar upfront licence fees, AMSC will receive royalties for every WT-2000sg wind turbine commissioned by AAER and will sell to AAER the electrical system components essential to the operation of the turbines.
"AMSC's unique design capabilities are an ideal fit for AAER -- the first wind turbine manufacturer in Canada," said Dave Gagnon, president and chief executive officer of AAER. "AMSC is enabling us to quickly enter rapidly growing markets with its unique two-megawatt turbine designs, which we believe will give us a competitive edge in these markets."
The Global Wind Energy Council reports that wind power capacity in North America grew 33 per cent in 2006 to 13,062 megawatts. Wind power in the United Kingdom and France, meanwhile, grew by 48 per cent and 107 per cent, respectively.
"We are very pleased with the momentum we have continued to build in the global wind energy market," said AMSC founder and chief executive officer Greg Yurek. "AAER is the fourth new customer for our wind turbine designs since we acquired Windtec in January, 2007. AAER also marks our first alliance with a North American wind turbine manufacturer. With AAER's expertise and the tremendous growth in wind energy taking place in North America and Europe, I believe this new business relationship will provide additional growth for both of our companies."
About American Superconductor
AMSC is a leading energy technologies company offering an array of solutions based on two proprietary technologies: programmable power electronic converters and high temperature superconductor (HTS) wires. The company's products, services and system-level solutions enable cleaner, more efficient and more reliable generation, delivery and use of electric power. AMSC is a leader in alternative energy, offering grid interconnection solutions as well as licensed wind energy designs and electrical systems. As the world's principal supplier of HTS wire, the company is enabling a new generation of compact, high-power electrical products, including power cables, grid-level surge protectors, Secure Super Grids, motors, generators, and advanced transportation and defence systems. AMSC also provides utility and industrial customers worldwide with voltage regulation systems that dramatically enhance power grid capacity, reliability and security, as well as industrial productivity. The company's technologies are protected by a broad and deep intellectual property portfolio consisting of hundreds of patents and licences worldwide. More information is available at the company's website.
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