WESTBOROUGH, Mass., March 24, 2004 — American Superconductor Corp., an electricity solutions company, announced that it has added Vikram S. Budhraja to its Board of Directors. The appointment is effective immediately.
Budhraja has more than 25 years of experience in the electric industry in power systems planning and operations, in electric industry restructuring, in reliability management, and in new ventures and technologies.
From 1977 to 2000, he served in several key senior management positions at Edison International, the parent company of Southern California Edison, including: President of Edison Technology Solutions; Senior Vice President and Head of the Power Grid Business Unit of Southern California Edison; and Vice President of System Planning, Fuels and Operations of Southern California Edison.
“I have known and worked with Vikram for 10 years,” said Greg Yurek, chairman and chief executive officer. “His more than two decades of experience in the electric power industry — as a manager, an executive and as a consultant — will serve our company well. It further strengthens the Board’s makeup with deep experience in developing and executing business strategies in the rapidly evolving electric power sector.”
Presently, Budhraja is President of Electric Power Group, LLC, a Pasadena, California-based consulting firm he founded in 2000 to provide management and strategic consulting services to the electric power industry.
He chairs the Consortium for Electric Reliability Technology Solutions (CERTS) and worked with the U.S.-Canadian Power Systems Outage Task Force that was formed to investigate the root causes of the August 14, 2003 power blackout in the Northeast.
“This is an exciting time to be joining American Superconductor because the company’s leading-edge products and technologies have converged with the clear need for significant improvement and investment in the nation’s power transmission grid,” Budhraja said. “I am looking forward to working with Greg and his colleagues to achieve the business goals of American Superconductor.”
Budhraja holds a BS in Mechanical Engineering from the Indian Institute of Technology and a Master’s Degree in Operations Research and System Engineering from UCLA.
About American Superconductor Corporation (Nasdaq: AMSC)
AMSC is a supplier of dynamic reactive power grid stabilization products and the world’s principal vendor of high temperature superconductor (HTS) wire and large rotating superconductor machinery.
AMSC’s power electronic converters and HTS wire are at the core of a broad range of new electricity transmission and distribution, transportation, medical and industrial processing applications, including dynamic reactive power grid stabilization solutions, large ship propulsion motors and generators, smart, controllable, superconductor power cables and advanced defense systems. The company’s products are supported by hundreds of patents and licenses covering technologies fundamental to Revolutionizing the Way the World Uses Electricityâ„-. More information is available at www.amsuper.com.