American Superconductor books record HTS wire orders in fourth fiscal quarter

WESTBOROUGH, Mass., April 2, 2003 — American Superconductor Corp., an electricity solutions company, reported it received orders for a record 450 kilometers (279 miles) of high temperature superconductor (HTS) wire during its fourth fiscal quarter, which ended March 31.

This is the largest amount of wire orders the company has received in one quarter. During the first nine months of the fiscal year, AMSC received wire orders totaling 20 km.

Orders received during the fourth quarter were from 11 different customers from four countries for multiple applications including motors, generators, power cables, industrial processing equipment and specialty electromagnets. AMSC delivered 88 km of the new wire orders in the quarter ending today and expects to deliver an additional 168 km from this backlog during the fiscal year ending March 31, 2004. The remainder will be backlog for the following fiscal year.

Eric Snitgen, vice president and general manager of AMSC Wires, the company’s business unit responsible for developing and manufacturing HTS wires, said the company has good visibility to orders for at least another 120 km of HTS wire in the first fiscal quarter ending June 30, 2003, with over half of those orders to be delivered by end of March 2004.

“AMSC’s commitment to manufacturing high quality, high performance HTS wire in commercial quantities at commercial prices is being recognized by the marketplace,” said Snitgen. “Our wires meet a wide range of customer specifications for multiple applications, and our manufacturing capability allows us to deliver significant quantities of wire with an excellent turnaround time. Our new plant is designed for just-in-time expansion so we are able to increase our capacity to meet growth in demand.”

Over half the new wire orders in the fourth quarter were repeat orders from existing customers, including Dupont, which ordered 50 km of wire for use in a full-scale magnetic separation system. AMSC will also manufacture the electromagnetic coils needed for this system from its wire. Dupont is manufacturing and demonstrating the magnetic processor system under a U.S. Department of Energy Superconductivity Partnership contract (for more information on this project, please see http://www.eere.energy.gov/superconductivity/pdfs/magnetic_sep.pdf).

About American Superconductor Corp.

American Superconductor develops solutions and manufactures products to dramatically improve the cost, efficiency and reliability of systems that generate, deliver and use electric power. The company has a vertically integrated portfolio of products supported by more than 500 patents and licenses covering technologies fundamental to Revolutionizing the Way the World Uses Electricityà¢â€ž-. More information is available at www.amsuper.com.


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