Institute for Plasma Research, India, (IPR) Selects Superconductor Technologies for Tokamak Fusion Development
April 23 2019 - 6:30AM
Superconductor Technologies Inc. (STI) (Nasdaq: SCON) announced
that the Institute for Plasma Research, India, (IPR) has selected
STI’s Conductus® wire for use in IPR’s next generation Tokamak
fusion development.
“IPR is well-respected and experienced in the world of
superconductor magnet development for plasma and Tokamak
applications. We are pleased our Conductus wire was selected by IPR
for development of its future Tokamak fusion device,” stated Jeff
Quiram, STI’s president and CEO. “IPR’s selection process included
rigorous analysis of many leading suppliers, with a focus on wire
performance, the company’s experience in superconductivity and
local support. Conductus wire’s performance was successfully tested
by IPR to insure it met the required specifications. We look
forward to working with IPR as they move forward with the
development of fusion device components utilizing the next
generation wire technology of our Conductus HTS wire. We would also
like to recognize the fine work done by TING Corporation, STI’s
distribution partner in India, in securing this first success in
India.”
“This order for Conductus wire from the prestigious Institute
for Plasma Research, India, is a big win for STI and TING
Corporation, and opens up the Indian market to the best wire
optimized for superconducting magnet applications,” said Prateek
Dokania, Vice President TING Corporation. “STI's proprietary &
leading-edge manufacturing process coupled with TING Corporation’s
experience and knowledge of the Indian market will deliver a
superior product - at a reasonable cost. We look forward to working
with STI and providing additional customers with high performance
magnet wire that delivers a competitive advantage.”
About IPRThe Institute for Plasma Research
(IPR) is an autonomous R & D organization. This institute is
largely involved in theoretical and experimental studies in plasma
science including basic plasma physics, magnetically confined hot
plasmas and plasma technologies for industrial application. The
institute owns two operational tokamaks (a machine for controlling
thermonuclear fusion) - ADITYA and Steady State Tokamak (SST) - 1.
FCIPT, ITER-India and CPP-IPR, located in Gandhinagar and Guwahati
are three divisions under IPR.
About TING CorporationTING Corporation provides
its global clients with state-of-the-art technology from North
America and the European Union. Their niche is the supply of
specialized engineering and technological solutions including 2G
HTS wire. 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
StatementStatements 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, before cash reserves are depleted (which
reserves are expected to be sufficient into the third quarter of
2019), 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 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,
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Forward-looking statements can be affected by many other
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"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, 2018 and in STI's other public
filings. These documents are available online at STI's website,
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Forward-looking statements are based on information presently
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update any forward-looking statements.
Investor Relations ContactMoriah Shilton or
Kirsten ChapmanLHA
+1-415-433-3777
invest@suptech.com
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