Superconductor Technologies Delivers on Conductus(R) 2G HTS Wire Orders
July 23 2013 - 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,
announced the successful shipment of Conductus® 2G HTS wire against
previously announced purchase orders from three industry leading,
multinational industrial companies. These shipments consisted of
wire that attained critical current performance between 250 and 400
Amps per centimeter width (A/cm-width) for the various specific
customer requests. As previously announced in April 2013, the
company's current wire production capacity for the next several
months is allocated to ship against existing purchase orders for
emerging smart grid applications. These initial shipments are being
used for qualification testing in the various customers' product
designs for devices such as superconducting fault current limiters
and HTS high field magnets used in multiple applications.
"Our customers are performing qualification testing of Conductus
wire to complete their vendor selection process for upcoming
projects," stated Adam Shelton, STI's VP of Marketing and Product
Line Management. "These shipments represent a significant milestone
for STI as our potential customers look to secure a supply of HTS
wire for 2014 and beyond. With the customer qualification phase
well underway, our important objective to establish commercial
relationships with these customers is fast approaching. For our
customers to successfully complete upcoming smart grid projects,
they will require a significant quantity of superconducting wire at
various lengths. Our wire performance, yields and wire length per
run have dramatically improved over the first half of 2013. We
expect our wire performance to continue to improve in these areas
that are critical to achieving commercial volumes. By carefully
aligning our 2013 production output with requirements from
strategic target customers who are committed to the
commercialization of superconducting devices, we are executing on
our plan to bring Conductus wire to market in commercial volumes in
2014. We expect to continue to ship high performance, longer length
wire to satisfy existing purchase orders for Conductus 2G HTS wire
in the coming months."
"Conductus wire is suitable for use in HTS power cables,
superconducting high-field magnets, superconducting fault current
limiters, and superconducting motors and generators applications.
As the power industry continues to adopt HTS technology to address
problems unsolvable by conventional means, STI is clearly focused
on fostering customer relationships with leading, multi-national
industrial companies with established sales channels to utilities.
As our current wire capacity increases, our intention is to secure
business with these customers as we prepare for the full commercial
launch of Conductus wire in 2014 as we transition from pilot to
full production," Shelton concluded.
About Superconductor Technologies Inc.
(STI)
Superconductor Technologies Inc., headquartered in Austin, TX,
has been a world leader in HTS materials since 1987, developing
more than 100 patents as well as proprietary trade secrets and
manufacturing expertise. For more than a decade, STI has been
providing innovative interference elimination and network
enhancement solutions to the commercial wireless industry. The
company is currently leveraging its key enabling technologies,
including RF filtering, HTS materials and cryogenics to develop
energy efficient, cost-effective and high performance second
generation (2G) HTS wire for existing and emerging power
applications, to develop applications for advanced RF wireless
solutions and innovative adaptive filtering, and for government
R&D. 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; the limited number of
potential customers; 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; overcoming technical challenges in attaining
milestones to develop and manufacture commercial lengths of our HTS
wire; customer acceptance of our HTS wire; fluctuations in product
demand from quarter to quarter; the impact of competitive filter
products, technologies and pricing; manufacturing capacity
constraints and difficulties; our ability to raise sufficient
capital to fund our operations, and the impact on our strategic
wire initiative of any inability to raise such funds; the impact of
any such financing activity on the level of our stock price; and
local, regional, and national and international economic conditions
and events and the impact they may have on us and our customers,
such as the current worldwide recession.
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, 2012 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.
CONTACT: Investor Relations Contact
Cathy Mattison or Kirsten Chapman
LHA
+1-415-433-3777
invest@suptech.com
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