AMSC Awarded U.S. Navy Contract for Insertion of Ship Protection System on USS Fort Lauderdale, LPD 28
September 06 2017 - 4:05PM
AMSC (NASDAQ:AMSC), a global energy solutions provider serving wind
and power grid industry leaders, today announced it has been
awarded a contract from the U.S. Navy for the long lead materials
for a HTS-based Ship Protection System to be deployed on Fort
Lauderdale, LPD 28. The Ship Protection System scope between AMSC
and the U.S. Navy is expected to include integration and
commissioning of the system. Fort Lauderdale will be the 12th
amphibious transport dock ship of the USS San Antonio-class.
AMSC’s Ship Protection System will provide Fort Lauderdale with
world class mine protection while reducing the weight of the
degaussing system by 90%, and reducing energy consumption by more
than half that of legacy degaussing systems. Having been designed
into the San Antonio Class amphibious ship platform, AMSC’s Ship
Protection System is expected to be integrated into Fort
Lauderdale, LPD 28.
“AMSC’s future is here. Our vision for high temperature
Superconductor technology has fully moved past its developmental
stage. We have commercialized AMSC’s core technology,” said Daniel
P. McGahn, President and CEO AMSC. “We look forward to working with
the U.S. Navy during the expected insertion of our advance
degaussing system into LPD 28.”
The LX(R) program is a program to build a new class of
amphibious ships for the Navy. An AMSC HTS-based Ship
Protection (degaussing) System has been chosen as the baseline
design for the LPD 29 and LX(R) Amphibious Ship Class designs.
The 13 ships of the USS San Antonio-class are a key element of
the U.S. Navy's ability to project power ashore. Collectively they
functionally replace more than 41 amphibious ships (4 classes of
amphibious ships), providing the U.S. Navy and Marine Corps with
modern, sea-based platforms that are networked, survivable and
built to operate with 21st century platforms.
The San Antonio-class ships are 684 feet long and 105 feet wide
and displace approximately 25,000 tons. Their principal mission is
to deploy the combat and support elements of Marine Expeditionary
Units and Brigades. The ships can carry up to 800 troops and have
the capability of transporting and debarking landing craft air
cushion (LCAC) or conventional landing crafts, augmented by
helicopters or vertical take-off and landing aircraft such as the
MV-22. These ships will support amphibious assault, special
operations or expeditionary warfare missions through the first half
of the 21st century.
AMSC and the U.S. Navy have collaborated on AMSC’s advanced
HTS-based Ship Protection Systems. The core components of the Ship
Protection System are common and transferable to other applications
being targeted for ship implementation. AMSC is continuing its work
to expand HTS technology into the fleet through a variety of
applications for power, propulsion, and protection equipment. AMSC
refers to its HTS-based products for the U.S. Navy as “Ship
Protection Systems.”
AMSC’s Ship Protection Systems, such as degaussing systems, are
designed to reduce the magnetic signature of a ship, which can
interfere with undersea mines’ ability to detect and damage the
ship. AMSC has worked with the U.S. Navy to develop a lighter
weight, more power efficient HTS version of this degaussing system.
HTS is an enabling technology for advanced degaussing systems on
platforms with weight and power limitations. These HTS-based
systems can reduce the electrical power required to operate by up
to 60% and can reduce the overall degaussing system weight by up to
90%.
About AMSC (NASDAQ:AMSC) AMSC generates
the ideas, technologies and solutions that meet the world's demand
for smarter, cleaner … better energy™. Through its Windtec™
Solutions, AMSC provides wind turbine electronic controls and
systems, designs and engineering services that reduce the cost of
wind energy. Through its Gridtec™ Solutions, AMSC provides the
engineering planning services and advanced grid systems that
optimize network reliability, efficiency and performance. The
Company's solutions are now powering gigawatts of renewable energy
globally and are enhancing the performance and reliability of power
networks in more than a dozen countries. Founded in 1987, AMSC is
headquartered near Boston, Massachusetts with operations in Asia,
Australia, Europe and North America. For more information, please
visit www.amsc.com.
AMSC, Windtec, Gridtec, and Smarter, Cleaner … Better Energy are
trademarks or registered trademarks of American Superconductor
Corporation. All other brand names, product names, trademarks, or
service marks belong to their respective holders.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”). Such statements include, but are
not limited to, statements about the expected scope of the Ship
Protection System; functionality, performance and capabilities of
our Ship Protection System; our expected insertion of our advance
degaussing system into LPD 28; expanding HTS technology into the
U.S. Navy fleet; ongoing collaboration with the U.S. Navy and
related plans and goals; and other statements containing the words
“believes,” “anticipates,” “plans,” “expects,” “will” and similar
expressions. Such forward-looking statements represent management’s
current expectations and are inherently uncertain. There are a
number of important factors that could materially impact the value
of our common stock or cause actual results to differ materially
from those indicated by such forward-looking statements. These
important factors include, but are not limited to: We have a
history of operating losses and negative operating cash flows,
which may continue in the future and require us additional
financing in the future; Our operating results may fluctuate
significantly from quarter to quarter and may fall below
expectations in any particular fiscal quarter; Our financial
condition may have an adverse effect on our customer and supplier
relationships; Our success is dependent upon attracting and
retaining qualified personnel and our inability to do so could
significantly damage our business and prospects; Failure to
successfully execute any move of our Devens, Massachusetts
manufacturing facility or achieve expected savings following any
such move; We rely upon third-party suppliers for the components
and sub-assemblies of many of our Wind and Grid products, making us
vulnerable to supply shortages and price fluctuations; Many of our
revenue opportunities are dependent upon subcontractors and other
business collaborators; Our products face intense competition; Our
success depends upon the commercial use of high temperature
superconductor (“HTS”) products, which is currently limited, and a
widespread commercial market for our products may not develop;
Third parties have or may acquire patents that cover the materials,
processes and technologies we use or may use in the future to
manufacture our Amperium products, and our success depends on our
ability to license such patents or other proprietary rights; We may
not realize all of the sales expected from our backlog of orders
and contracts; We have operations in and depend on sales in
emerging markets, and global conditions could negatively affect our
operating results or limit our ability to expand our operations
outside of these countries; We face risks related to our
intellectual property; We face risks related to our legal
proceedings; and the important factors discussed under the caption
“Risk Factors” in Part 1. Item 1A of our Form 10-K for the fiscal
year ended March 31, 2017, and our other reports filed with the
SEC. These important factors, among others, could cause actual
results to differ materially from those indicated by
forward-looking statements made herein and presented elsewhere by
management from time to time. Any such forward-looking statements
represent management’s estimates as of the date of this press
release. While we may elect to update such forward-looking
statements at some point in the future, we disclaim any obligation
to do so, even if subsequent events cause our views to change.
These forward-looking statements should not be relied upon as
representing our views as of any date subsequent to the date of
this press release.
AMSC Contact:
Brion D. Tanous
Phone: 424-634-8592
Email: Brion.Tanous@amsc.com
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