Tailwinds within the Semiconductor and Renewable Markets Drive Demand
AYER, Mass., July 26, 2022 (GLOBE NEWSWIRE) — AMSC® (NASDAQ: AMSC), a number one system supplier of megawatt-scale energy resiliency options that orchestrate the rhythm and concord of energy on the grid™ and shield and increase the aptitude of our Navy’s fleet, immediately introduced $40 million of recent vitality energy techniques orders. This contains orders for reactive compensation, enclosed capacitor banks, harmonic filters, voltage controllers, rectifiers and transformers. Greater than half of the income from these orders is predicted to be acknowledged in fiscal 12 months 2022.
“Tailwinds in our key markets are driving an acceleration in bookings of our new vitality energy techniques options,” mentioned Daniel P. McGahn, Chairman, President and CEO, AMSC. “The semiconductor business is predicted to proceed to extend capital spending within the coming years. The transfer to decarbonization and to attain vitality independence amongst quite a few nations can be anticipated to translate into broadened adoption of renewable energy techniques throughout the globe. We imagine these dynamics have the aptitude to assist demand of our merchandise for the medium to long run.”
AMSC’s new vitality energy techniques options embrace D-VAR® and D-VAR VVO® choices in addition to NEPSITM and NeeltranTM companies. Clients make the most of AMSC’s options to offer voltage management, energy issue correction, and reactive compensation to stabilize the facility grid and forestall undesirable occasions equivalent to voltage collapse. The techniques are designed to detect and instantaneously compensate for voltage disturbances. Together with Neeltran, AMSC presents energy conversion merchandise. These merchandise embrace transformers and rectifiers. Moreover, the techniques assist utilities handle their energy high quality issues and increase grid capability for renewable distributed era.
About AMSC (NASDAQ: AMSC)
AMSC generates the concepts, applied sciences and options that meet the world’s demand for smarter, cleaner … higher vitality™. By its Gridtec™ Options, AMSC gives the engineering planning companies and superior grid techniques that optimize community reliability, effectivity and efficiency. By its Marinetec™ Options, AMSC gives ship safety techniques and is growing propulsion and energy administration options designed to assist fleets enhance system efficiencies, improve energy high quality and enhance operational security. By its Windtec® Options, AMSC gives wind turbine digital controls and techniques, designs and engineering companies that scale back the price of wind vitality. The Firm’s options are enhancing the efficiency and reliability of energy networks, rising the operational security of navy fleets, and powering gigawatts of renewable vitality globally. Based in 1987, AMSC is headquartered close to Boston, Massachusetts with operations in Asia, Australia, Europe and North America. For extra data, please go to www.amsc.com.
©2022 AMSC. AMSC, American Superconductor, NEPSI, Neeltran, D-VAR, D-VAR VVO,Amperium, Gridtec, Marinetec, Windtec, Orchestrate the Rhythm and Concord of Energy on the Grid and Smarter, Cleaner … Higher Power are emblems or registered emblems of American Superconductor Company. All different model names, product names, emblems, or service marks belong to their respective holders.
This press launch incorporates “forward-looking statements” inside the that means of Part 21E of the Securities Alternate Act of 1934, as amended. Such statements embrace, however aren’t restricted to, statements about our expectation concerning meant makes use of of the brand new vitality energy techniques ordered; the anticipated timing of income recognition for the techniques ordered; market drivers and dynamics for our new vitality energy techniques merchandise; our expectation that the semiconductor business will proceed to extend capital spending within the coming years; our perception that market dynamics have the aptitude to assist demand for the medium to long run; performance and efficiency of our merchandise, techniques and options; and different statements containing the phrases “believes,” “anticipates,” “plans,” “expects,” “will” and comparable expressions. Such forward-looking statements symbolize administration’s present expectations and are inherently unsure. There are a variety of necessary elements that would materially influence the worth of our widespread inventory or trigger precise outcomes to vary materially from these indicated by such forward-looking statements. These necessary elements embrace however aren’t restricted to: Now we have a historical past of working losses, which can proceed sooner or later. Our working outcomes might fluctuate considerably from quarter to quarter and should fall under expectations in any specific fiscal quarter; Now we have a historical past of unfavourable working money flows, and we might require further financing sooner or later, which might not be out there to us; We could also be required to problem efficiency bonds or present letters of credit score, which restricts our capacity to entry any money used as collateral for the bonds or letters of credit score; Modifications in trade charges may adversely have an effect on our outcomes of operations; We might not understand all the gross sales anticipated from our backlog of orders and contracts; The COVID-19 pandemic may adversely influence our enterprise, monetary situation and outcomes of operations; We depend upon third-party suppliers for the parts and subassemblies of lots of our Grid and Wind merchandise, making us susceptible to produce shortages and value fluctuations, which may hurt our enterprise; Uncertainty surrounding our prospects and monetary situation might have an antagonistic impact on our buyer and provider relationships; Our success relies upon attracting and retaining certified personnel and our lack of ability to take action may considerably harm our enterprise and prospects; Our enterprise and operations can be adversely impacted within the occasion of a failure or safety breach of our or any essential third events data expertise infrastructure and networks; A lot of our income alternatives are dependent upon subcontractors and different enterprise collaborators; Issues with product high quality or product efficiency might trigger us to incur guarantee bills and should harm our market fame and forestall us from reaching elevated gross sales and market share; We might purchase further complementary companies or applied sciences, which can require us to incur substantial prices for which we might by no means understand the anticipated advantages; Antagonistic modifications in home and world financial circumstances may adversely have an effect on our working outcomes; Our merchandise face competitors, which may restrict our capacity to accumulate or retain prospects; We could also be unable to adequately stop disclosure of commerce secrets and techniques and different proprietary data;Our patents might not present significant safety for our expertise, which may end in us dropping some or all of our market place; Our expertise and merchandise may infringe mental property rights of others, which can require expensive litigation and, if we’re not profitable, may trigger us to pay substantial damages and disrupt our enterprise; We face dangers associated to our authorized proceedings; We face dangers associated to our widespread inventory; and the opposite necessary elements mentioned below the caption “Threat Elements” in Half 1. Merchandise 1A of our Kind 10-Ok for the fiscal 12 months ended March 31, 2022, and our different reviews filed with the SEC. These necessary elements, amongst others, may trigger precise outcomes to vary materially from these indicated by forward-looking statements made herein and introduced elsewhere by administration sometimes. Any such forward-looking statements symbolize administration’s estimates as of the date of this press launch. Whereas we might elect to replace such forward-looking statements sooner or later sooner or later, we disclaim any obligation to take action, even when subsequent occasions trigger our views to alter. These forward-looking statements shouldn’t be relied upon as representing our views as of any date subsequent to the date of this press launch.
Investor Relations Contact:
LHA Investor Relations
Public Relations Contact:
AMSC Communications Supervisor: