Please replace the release dated September 28, 2011 with the following corrected version due to multiple revisions.
The corrected release reads:
FIRST SUPERCONDUCTOR CABLE ENERGIZED IN KOREA’S POWER GRID
Korea Electric Power Corporation, LS Cable & System and AMSC Partner on Superconductor Power Cable Utilizing Second Generation Superconductor WireKorea Electric Power Corporation (KEPCO), LS Cable & System and American Superconductor Corporation (NASDAQ: AMSC) today announced that the world’s longest distribution-voltage superconductor cable system has been energized at the I’cheon substation located near the city of Seoul. Powered by AMSC’s Amperium™ superconductor wire and installed in Korea Electric Power Company’s (KEPCO) electricity grid, the 22.9 kV alternating current (AC) cable system is capable of carrying approximately 50 megawatts of power. This is longest HTS cable in the world to be energized in the grid utilizing second generation (2G) superconductor wire and is also currently the longest distribution voltage superconductor power cable in operation. “The energizing of the I’cheon substation has great historical significance and demonstrates that Korean power electric technology is at a world-class level,” said Yup Heo, Executive Vice President of KEPCO’s construction division. “Based on the technology and the know-how from this installation, KEPCO will continue to develop transmission voltage superconductor power cables and is securing the world’s top superconductor technology and market position.” AC superconductor power cable systems can conduct up to 10 times the amount of power of conventional cables made with copper wire. As demonstrated at the I’cheon substation installation, they can be placed strategically in urban power grids to deliver more power than conventional cables in the same right-of-way to mitigate grid congestion or can be used to replace overhead lines. “Already over-taxed power grids around the world are being challenged to meet rising electricity demands associated with today’s growing and increasingly networked economy. Because superconductor technology provides a reliable, cost-effective solution, we see it as a tremendous growth opportunity,” said LS Cable & System President Jong-ho Son. “Beginning with helping to fulfill KEPCO’s vision and expanding into a global business, we plan to capitalize on superconductor technology to meet the growing power demands of Korea and the world.” In October of 2010, LS Cable & System and AMSC entered into the world’s first large-scale commercial superconductor wire supply agreement. AMSC recently made its initial wire shipment to LS Cable & System under this new agreement to allow it to begin qualification work for Korea’s next superconductor cable projects. KEPCO is now planning a 1 kilometer, 154kV AC cable system and a 500 meter, 80kV DC cable system in the grid on South Korea’s Jeju Island.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV