- Wire samples for new superconducting fault current limiter and motor applications shipped in Q4 -
- Pipeline of customer requests for Conductus ® 2G HTS wire continues to increase -
- Positioned to begin pilot production of Conductus wire in 2013 -AUSTIN, Texas, March 7, 2013 (GLOBE NEWSWIRE) -- Superconductor Technologies Inc. (STI) (Nasdaq:SCON), a world leader in the development and production of high temperature superconducting (HTS) materials and associated technologies, reported results for the quarter and year-ended December 31, 2012. "2012 has been a watershed year as STI strives to become a leading producer of second generation (2G) HTS wire," said Jeff Quiram, STI's president and chief executive officer. "In the past year, we installed a complete suite of Conductus ® wire manufacturing equipment at our new Advanced Manufacturing Center of Excellence facility in Austin. Our IBAD system is operational and has been producing fully compliant material for several quarters. Our new SDP system is operational and in the last two weeks we produced 50 meters of 10 centimeter wide substrate in a continuous run that met our substrate performance requirements. This is a significant milestone in our efforts to produce wider and longer wire substrate, which we will utilize to produce longer lengths of Conductus wire. We have completed several production runs of our new 100 meter RCE tool. Our technical team continues to make very significant progress in turning up this machine, and we believe we will solve the remaining operational issues in the near future. "We are now positioned to begin the pilot production of Conductus wire in 2013. Our HTS wire template offers a unique performance advantage that we intend to exploit. Recent testing in January confirmed that Conductus wire met the product requirements for several existing low temperature wire applications. These results continue to demonstrate that Conductus wire is suitable for a variety of markets with superconducting needs, including applications that are currently utilizing low temperature wire. In the fourth quarter, we also shipped Conductus wire samples to several new potential customers for qualification testing in fault current limiter and superconducting motor applications.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts