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Superconductor Technologies Delivers On Conductus(R) 2G HTS Wire Orders

Stocks in this article: SCON

AUSTIN, Texas, July 23, 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, announced the successful shipment of Conductus ® 2G HTS wire against previously announced purchase orders from three industry leading, multinational industrial companies. These shipments consisted of wire that attained critical current performance between 250 and 400 Amps per centimeter width (A/cm-width) for the various specific customer requests. As previously announced in April 2013, the company's current wire production capacity for the next several months is allocated to ship against existing purchase orders for emerging smart grid applications. These initial shipments are being used for qualification testing in the various customers' product designs for devices such as superconducting fault current limiters and HTS high field magnets used in multiple applications.

"Our customers are performing qualification testing of Conductus wire to complete their vendor selection process for upcoming projects," stated Adam Shelton, STI's VP of Marketing and Product Line Management. "These shipments represent a significant milestone for STI as our potential customers look to secure a supply of HTS wire for 2014 and beyond. With the customer qualification phase well underway, our important objective to establish commercial relationships with these customers is fast approaching. For our customers to successfully complete upcoming smart grid projects, they will require a significant quantity of superconducting wire at various lengths. Our wire performance, yields and wire length per run have dramatically improved over the first half of 2013. We expect our wire performance to continue to improve in these areas that are critical to achieving commercial volumes. By carefully aligning our 2013 production output with requirements from strategic target customers who are committed to the commercialization of superconducting devices, we are executing on our plan to bring Conductus wire to market in commercial volumes in 2014. We expect to continue to ship high performance, longer length wire to satisfy existing purchase orders for Conductus 2G HTS wire in the coming months."

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