American Superconductor Corporation (NASDAQ: AMSC) today announced that it is now doing business as AMSC and introduced a new corporate identity in order to foster strong, sustainable growth. AMSC’s wind and grid offerings are now branded as Windtec Solutions and Gridtec Solutions to better reflect the company’s expertise across the power lifecycle. The value of AMSC’s solutions is described in the company’s new tagline: “Smarter, cleaner … better energy.”
“When we were founded nearly 25 years ago, we had operations only in the United States and our sole focus was on superconductors,” said AMSC President and Chief Executive Officer, Daniel McGahn. “Today, we have operations throughout North America, Europe and Asia. Meanwhile, our Windtec Solutions and Gridtec Solutions are powering gigawatts of renewable energy globally and enhancing the performance and reliability of power networks in more than a dozen countries. Our evolution from American Superconductor to AMSC better reflects who we are today and supports our continued diversification.”
“The new identity is just one of the changes that we are making to support a more diversified and sustainable company,” McGahn continued. “In recent months, AMSC has taken actions to streamline and strengthen its business. We have created a flatter, leaner organization that is more nimble and flexible to emerging opportunities; aligned our business to better serve the wind and grid markets; and refined our strategic priorities to capitalize on our near- and long-term opportunities.”
AMSC’s business formerly was structured around technologies. The company now has aligned its business by end market. Through its Windtec Solutions, AMSC enables manufacturers to launch best-in-class wind turbines quickly, effectively and profitably by providing designs, support services and power electronics and controls. AMSC's Gridtec Solutions include engineering planning services and advanced grid systems that optimize network reliability, efficiency and performance from the point of generation through transmission and distribution.