American Superconductor (AMSC) Rallying On Big Wire Order From Korea’s LS Cable

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09:24:19 am on October 6, 2010

Yesterday American Superconductor (AMSC) announced the rebranding of its 2nd generation HTS wire to Amperium and it appears the marketing strategy is paying off!  This morning they announced a large order from Korea’s LS Cable for a million feet which AMSC will begin shipping in 2012. 

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The two companies are no strangers.  In March, they announced a partnership to deploy more than 31 miles of superconductor cables in commercial power grids by 2015.

"With this commercial wire order, American Superconductor has officially begun to tap into what we believe will be a multi-billion-dollar HTS market," said AMSC President and Chief Operating Officer Dan McGahn. "Since the discovery of HTS materials more than two decades ago, our company has been the industry’s HTS wire leader and has played a pivotal role in developing and demonstrating various applications for this wire, including power cables. These steadfast efforts are now being rewarded. We are happy to support LS Cable’s growth plans for the global superconductor power cable market."

Shares of AMSC are adding on to the nice move yesterday and breaking out above the May high of 34.21.  This is a significant move for AMSC and signals an entry point on any pull backs. 

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