STI Signs Distribution Agreement With TING Corporation Focused on India Market
October 22 2015 - 6:30AM
Superconductor Technologies Inc. (STI) (Nasdaq:SCON), a world
leader in the development and production of high temperature
superconducting (HTS) materials and associated technologies,
entered a distribution agreement with TING Corporation to supply
the India market with Conductus® second generation (2G) HTS wire.
TING Corporation, an export management and consulting firm with
more than two decades of international experience and global
outreach, will serve as STI's key distribution partner in India.
Prateek Dokania, VP of Operations at TING Corporation stated:
"Based on our extensive knowledge of the HTS wire market in India,
we believe STI's Conductus wire delivers market leading performance
that will provide a competitive advantage and differentiate TING in
the marketplace. We are excited about the opportunities for HTS
products in India and look forward to a productive relationship
with STI."
"We are proud to be selected as TING's key 2G HTS wire supplier
for the India market," stated Jeff Quiram, STI's president and
chief executive officer. "TING has been marketing HTS wire since
2013 and has a proven track record of selling superconducting wire.
It is targeting new and established customers with a focus on
applications that include HTS Cables, power storage solutions,
fault current limiters, magnets and motors. We believe this new
partnership enables STI to effectively address the HTS wire market
in India."
About TING Corporation
TING Corporation provides its global clients with
state-of-the-art technology from North America and the European
Union and specializes in the supply of 2G HTS wire to India. TING
Corporation is headquartered in the U.S. with offices in Europe and
India. It has established strong business alliances with major
North American and European companies that develop and manufacture
products for steel, power, petrochemical and mining industries.
TING serves as a key representative for these companies in
Asia.
About Superconductor Technologies Inc.
(STI)
Superconductor Technologies Inc. is a global leader in
superconducting innovation. Its Conductus® superconducting wire
platform offers high performance, cost-effective and scalable
superconducting wire. With 100 times the current carrying capacity
of conventional copper and aluminum, superconducting wire offers
zero resistance with extreme high current density. This provides a
significant benefit for electric power transmission and also
enables much smaller or more powerful magnets for motors,
generators, energy storage and medical equipment. Since 1987, STI
has led innovation in HTS materials, developing more than 100
patents as well as proprietary trade secrets and manufacturing
expertise. For more than 20 years STI utilized its unique HTS
manufacturing process for solutions to maximize capacity
utilization and coverage for Tier 1 telecommunications operators.
Headquartered in Austin, TX, Superconductor Technologies Inc.'s
common stock is listed on the NASDAQ Capital Market under the
ticker symbol "SCON." For more information about STI, please visit
http://www.suptech.com.
Safe Harbor Statement
Statements in this press release regarding our business that are
not historical facts are "forward-looking statements" that involve
risks and uncertainties. Forward-looking statements are not
guarantees of future performance and are inherently subject to
uncertainties and other factors, which could cause actual results
to differ materially from the forward-looking statements. These
factors and uncertainties include, but are not limited to: our
limited cash and a history of losses; our need to materially grow
our revenues from commercial operations and/or to raise additional
capital (which financing may not be available on acceptable terms
or at all) in the very near future, to implement our current
business plan and maintain our viability; the performance and use
of our equipment to produce wire in accordance with our timetable;
overcoming technical challenges in attaining milestones to develop
and manufacture commercial lengths of our HTS wire; the possibility
of delays in customer evaluation and acceptance of our HTS wire;
the performance of our third party partners; the limited number of
potential customers and customer pressures on the selling prices of
our products; the limited number of suppliers for some of our
components and our HTS wire; there being no significant backlog
from quarter to quarter; our market being characterized by rapidly
advancing technology; the impact of competitive products,
technologies and pricing; manufacturing capacity constraints and
difficulties; the impact of any financing activity on the level of
our stock price; the dilutive impact of any issuances of securities
to raise capital; cost and uncertainty from compliance with
environmental regulations; and local, regional, and national and
international economic conditions and events and the impact they
may have on us and our customers.
Forward-looking statements can be affected by many other
factors, including, those described in the "Business" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" sections of STI's Annual Report on Form 10-K
for the year ended December 31, 2014 and in STI's other public
filings. These documents are available online at STI's website,
www.suptech.com, or through the SEC's website, www.sec.gov.
Forward-looking statements are based on information presently
available to senior management, and STI has not assumed any duty to
update any forward-looking statements.
Investor Relations Contact Cathy Mattison or
Kirsten Chapman LHA +1-415-433-3777 invest@suptech.com
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