AMSC Receives Exclusive Right to Fundamental HTS Patent
AMSC (Nasdaq: AMSC) today announced that it acquired exclusive rights to a fundamental high temperature superconductor (HTS) patent in the U.S. The patent covers a broad range of second generation (2G) and similar HTS materials, wire and power-related applications. Additional information on the patent can be found in the Form 10-K that AMSC plans to file with the U.S. Securities and Exchange Commission later this month.
HTS materials and wire can enable dramatic reductions in the footprint and cost of megawatt-scale electrical equipment, such as power cables, motors and generators. Due to its reduced precious metal requirement and the process that is employed in its manufacturing, 2G wire is expected to be significantly less expensive to produce than first generation HTS wire when in high-volume production. This type of wire is currently being manufactured by many companies around the world, including AMSC.
"Since their discovery more than 25 years ago, HTS materials have been heralded for their promise to transform the generation, transmission and distribution of electrical power," said Daniel P. McGahn, President and CEO, AMSC. "Along with our partners worldwide, we at AMSC have begun to deliver on that promise with industry-leading capacity, production and order rates. Underlying our market position is an unparalleled intellectual property portfolio. This new license further strengthens this position and our ability to serve the U.S. market's 2G needs for years to come."
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