American Superconductor (AMSC) Acquires 25% Of Wind Turbine Blade Manufacturer

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11:58:21 pm on August 17, 2010

American Superconductor (AMSC) announced earlier today that it acquired a 25% stake in UK based Blade Dynamics, a designer and manufacturer of advanced wind turbine blades for $8 million in cash and will gain one seat on the Board.  Blade Dynamics designs increase efficiency and performance of high power wind turbine blades. Dow Chemical (DOW) also purchased a minority stake in the company.

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AMSC CEO Greg Yurek commented on the technology:

“The design and manufacturing processes for wind turbine blades have remained fundamentally unchanged for 20 years. Today, however, the market is migrating to higher wind turbine power ratings. Onshore wind turbines now exceed 2 MW in many locations, and offshore wind farm developers are increasingly seeking wind turbines with power ratings exceeding 5 MW. Blade Dynamics presents us — and the entire wind industry — with a game-changing wind turbine blade technology that enhances performance and reduces weight and cost for high power wind turbines. We view this as a compelling investment and expect many wind turbine manufacturers, including our own AMSC Windtec(TM) licensees, to quickly migrate to the Blade Dynamics solution to avail themselves of these competitive advantages. In fact, AMSC Windtec and Blade Dynamics engineers have already been working in close collaboration to optimize blades for AMSC Windtec turbine designs.”

On an unrelated note, it was also announced that  Louisiana Economic Development will provide incentives for up to $30 million to help Blade Dynamics open a manufacturing facility in New Orleans that could potentially add 600 jobs to the local economy.

“This is a huge win for New Orleans and our whole state,” said Governor Jindal. “By recruiting Blade Dynamics and its revolutionary wind power technologies to Louisiana, we are creating hundreds of high-paying new jobs in New Orleans while diversifying the economy of this region.”

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