American Superconductor Gets New Order From SECRI

DEVENS, Mass. (AP) — American Superconductor Corp., which makes equipment for power generators and utilities, on Tuesday said it received a new order from Shanghai Electric Cable Research Institute for its high temperature superconductor wire.

American Superconductor has agreed to deliver the wire and provide consulting services to SECRI as the China-based company develops and manufactures a 30-meter-long, 35 kilovolt cable system with the help of the Shanghai government. Financial terms of the agreement were not disclosed.

The alliance between the two companies dates back to 2006 when American Superconductor became the preferred supplier of high temperature superconductor wire to SECRI and a recommended supplier to SECRI's manufacturing licensees. The companies developed and promoted the use of superconductor power transmission cables in China.

American Superconductor also provides SECRI with consulting services for its superconductor power cable development program.

Shares of AMSC closed at $16.47 on Monday.