UPDATE: Rodman & Renshaw Initiates Superconductor Technologies with Market Perform; Commercializing 2G HTS

Rodman & Renshaw initiates its coverage on Superconductor Technologies SCON with a Market Perform rating. Rodman & Renshaw comments, "SCON has spent the last few years in efforts to commercialize the next generation of HTS wires that should find applications in the deployment of smart energy infrastructure being planned for in various geographies. The adoption of this technology should be driven by cost and performance advantages offered, including fewer deposition steps and use of lower cost raw materials. HTS transmission and distribution cables potentially transmit 5x to 10x the electrical current compared to traditional copper or aluminum cables. Currently, the company is close to producing 100 meter length wires that will be made available to potential customers by year end. A successful execution / delivery of these shorter length wires should set the stage for 1 KM length wires, expected in 2013, bringing the company to execute production on a commercial scale." SCON closed at $0.67 on Tuesday.