American Superconductor Corp gains on order from Sinovel Wind
Shares of American Superconductor Corp. (Nasdaq: AMSC) got a jolt in pre-market trading this morning after the energy technologies company, announced that it received a follow-on $70 million order for wind turbine electrical systems from Beijing-based Sinovel Wind Corp. Ltd.
American Superconductor’s subsidiary, AMSC Windtec, will ship the customized electrical systems to Sinovel in 2008 for use in Sinovel's 1.5 megawatt wind energy systems.
AMSC Windtec turbine electrical systems provide wind turbine operation by controlling power flows, regulating voltage and controlling the pitch of wind turbine blades to maximize efficiency.
Shares of American Superconductor climbed 6.23%, or $1.22, to $20.80 in pre-market trading.
