AMSC’s Windtec Sells License for Wind Energy System Design in China

American Superconductor Corporation (AMSC) announced that its wholly owned subsidiary, Windtec, has sold a license in China for its wind energy system.

Under the terms of the contract, Zhuzhou Electric Locomotive Research Institute (ZELRI) is gaining rights to manufacture, use and sell Windtec’s 1.65-megawatt (MW) Model WT1650 wind energy system in China. “China needs more renewable energy sources to power generation to meet the needs of our rapidly growing, technology-driven society,” said Du Jinsong, general manager of ZELRI’s wind power business unit. “With Windtec’s assistance, we plan to demonstrate our WT1650 prototypes late in 2007 and begin full-scale production of the units in 2008.” The license includes an upfront fee of approximately $2 million to AMSC as well as a royalty payment for each WT1650 system installed, and a right of first refusal for AMSC to provide the electrical components for each WT1650 manufactured by ZELRI. ZELRI is a division of China-Southern-Loric. “We are pleased to be joining forces with another large and well-respected manufacturer to capitalize on China’s rapidly growing wind energy industry, which requires that over 70% of the content of wind energy systems come from Chinese suppliers,” said Greg Yurek, founder and CEO of American Superconductor.
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