AMSC (NASDAQ: AMSC), a global energy solutions provider serving
wind and power grid industry leaders, today announced the
successful commissioning of AMSC’s D-VAR VVO™ system as part of
United Power’s voltage optimization and energy efficiency program.
United Power commissioned the D-VAR VVO™ system in its distribution
grid in the state of Colorado.
“AMSC’s D-VAR VVO™ product is proving to be an effective upgrade
for distribution feeders with challenging voltage regulation issues
due to dynamically varying load,” said Robert Maxwell III, P.E.,
Director of Engineering at United Power. “Our first application for
D-VAR VVO™ supports United Power’s effort to support industrial
growth and to validate the technology as a solution to renewable
generation interconnection, power quality, voltage optimization and
energy efficiency challenges.”
“Working with utilities across the country, we are finding the
potential for D-VAR VVO™ to solve a number of customer issues,”
said Daniel P. McGahn, President and CEO, AMSC. “The precise and
rapid reactive power and voltage control provided by D-VAR VVO™ can
assist utilities in maintaining their power quality standards,
while enabling large scale adoption of distributed generation and
electric vehicles on their distribution networks.”
AMSC’s D-VAR VVO™ addresses the needs of utilities that are
experiencing rapid growth of renewable distributed generation (DG)
and electric vehicle (EV) charging capacity within their
distribution networks. Renewable distributed generation, such as
rooftop and community solar power, and electric vehicle charging
are inherently dynamic and variable in nature. Utilities are now
striving to enhance their distribution grid network’s capabilities
to accommodate these new resources and customers, while maintaining
efficiency and superior power quality.
The D-VAR VVO™ helps utilities manage their power quality
concerns and expands grid capacity for renewable DG and EVs.
The D-VAR VVO™ equipment reacts seamlessly to EV-driven rapid load
changes and clouds passing or changing wind speeds across the
distribution grid, minimizing the impact on electrical equipment
and customers, and helping utilities meet power quality standards
even as more renewable DG and EVs come on-line.
Utilities are also evaluating techniques to implement
Conservation Voltage Reduction (CVR) strategies. This is an
increasingly widespread approach used by electric utilities to
increase efficiency and reduce peak electric loading on their
system to reduce costs and improve reliability, with minimal impact
on customers. D-VAR VVO™ gives utilities the ability to enact
widespread reduction in system voltages, on command, to execute CVR
programs. The D-VAR VVO™ is designed to achieve all of this
with no moving parts, a minimal number of installation sites, and
virtually no maintenance requirements.
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.
About United Power United Power is a rural
electric cooperative, providing electric service to homes and
businesses throughout Colorado’s northern front range. Surrounding
Denver on three sides, United Power serves 900 square miles along
the north central range of the Colorado Rockies. Our service
territory wraps around the north and west borders of Denver
International Airport, and includes the north metropolitan
development corridors, including Interstate 25, Interstate
76, State Highway 85, and E-470. United Power is a
not-for-profit electric cooperative, owned by the customer-members
who receive electricity from us. United Power is governed by a
member-elected board of directors, who direct the operations of the
cooperative, oversee needed rate changes, and help the staff and
employees plan for the future of the company. Through careful
management and constant improvements in technology, United Power
demonstrates its commitment to being the Utility of Choice by using
innovation and efficiency to provide
economical and reliable power to its members.
AMSC, Windtec, Gridtec, D-VAR VVO, 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 our expectations regarding
functionality, performance and capabilities of the D-VAR VVO™, its
benefits and other impacts on AMSC, utility grids, utilities and
consumers, and AMSC’s related plans and goals; industry and market
trends; 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 to secure 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 the move of our former Devens, Massachusetts
manufacturing facility or achieve expected savings following the
move could adversely impact our financial performance; 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;
Growth of the wind energy market depends largely on the
availability and size of government subsidies, economic incentives
and legislative programs designed to support the growth of wind
energy; Our products face intense competition; 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,
including India, and global conditions could negatively affect our
operating results or limit our ability to expand our operations
outside of these markets; 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, 2018, 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. TanousPhone: 424-634-8592Email:
Brion.Tanous@amsc.com
Public Relations Contact: Nicol Golez Phone:
978-399-8344 Email: Nicol.Golez@amsc.com
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