DEVENS, Mass.--(BUSINESS WIRE)--American Superconductor Corporation (NASDAQ: AMSC), a global energy technologies company, today announced that it and Beijing-based Sinovel Wind Corporation Limited (Sinovel) have signed a new contract worth more than $100 million (excluding value added tax) for core electrical components to be utilized in Sinovel’s 3 megawatt (MW) wind turbines, known as the SL3000. AMSC expects to begin shipping sets of core components under the new contract in March 2010 and to complete all shipments by the end of calendar year 2011. Sinovel is China’s largest wind turbine manufacturer and expects to be the world’s fifth largest wind turbine manufacturer by the end of 2009.

“Over the course of the past four years, Sinovel has transformed from start-up mode into China’s largest wind turbine manufacturer,” said Greg Yurek, founder and chief executive officer of AMSC. “This success was achieved through the production of thousands of 1.5 MW wind turbines. Sinovel is now exhibiting its technology leadership by entering volume production of its SL3000 wind turbines. We at AMSC are proud to be supporting Sinovel’s 1.5 MW and 3 MW platforms and look forward to the launch of the company’s 5 MW wind turbines in the not-too-distant future.”

With a 300-foot rotor diameter and tower height, Sinovel’s SL3000 is China’s most powerful domestically produced wind turbine. Sinovel has already erected several 3 MW turbines off the coast of Shanghai for the Shanghai Donghai Bridge Wind Farm, China’s first off-shore wind farm.

This is the second order AMSC has received from Sinovel for 3 MW core electrical components and follows an $18 million contract that was signed in early 2008. AMSC’s core electrical components include the company’s proprietary PowerModule™ PM3000W power converter and enable reliable, high-performance wind turbine operation by controlling power flows, regulating voltage, monitoring system performance and controlling the pitch of wind turbine blades to maximize efficiency.

At the end of calendar year 2008, China had an installed wind power capacity of approximately 12,000 MW (12 gigawatts). In its June 2009 report, industry research firm Emerging Energy Research projected that China’s wind power installed base would exceed 200,000 MW (200 GW) by 2020.

About Sinovel Wind Corporation Limited

Sinovel Wind Co., Ltd. is one of the largest wind turbine manufacturers in the world and China’s top wind turbine producer. Headquartered in Beijing, Sinovel has manufacturing bases in China’s Dalian, Jiangsu, Inner Mongolia and Gansu Provinces. Sinovel specializes in the R&D, design, manufacturing and sales of a variety of wind turbines. Currently it has approximately 1,700 employees, including 1,000 technicians and 300 senior engineers or technicians with PhD/Master’s degrees. For more information, please visit www.sinovel.com

About American Superconductor (NASDAQ: AMSC)

AMSC offers an array of proprietary technologies and solutions spanning the electric power infrastructure – from generation to delivery to end use. The company is a leader in alternative energy, providing proven, megawatt-scale wind turbine designs and electrical control systems. The company also offers a host of Smart Grid technologies for power grid operators that enhance the reliability, efficiency and capacity of the grid, and seamlessly integrate renewable energy sources into the power infrastructure. These include superconductor power cable systems, grid-level surge protectors and power electronics-based voltage stabilization systems. AMSC’s technologies are protected by a broad and deep intellectual property portfolio consisting of hundreds of patents and licenses worldwide. More information is available at www.amsc.com.

American Superconductor and design, Revolutionizing the Way the World Uses Electricity, AMSC, Powered by AMSC, D-VAR, dSVC, PowerModule, PQ-IVR, Secure Super Grids, Windtec and SuperGEAR are trademarks or registered trademarks of American Superconductor Corporation or its subsidiaries. All other brand names, product names or trademarks belong to their respective holders. The Windtec logo and design is a registered European Union Community Trademark.

Any statements in this release about future expectations, plans and prospects for the company, including our expectations regarding the future financial performance of the company and other statements containing the words "believes," "anticipates," "plans," "expects," "will" and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are a number of important factors that could cause actual results to differ materially from those indicated by such forward-looking statements. Such factors include: we have a history of operating losses, and we may incur losses in the future; a significant portion of our revenues are derived from a single customer, and a reduction in business with this customer could adversely affect our operating results; adverse changes in domestic and global economic conditions could adversely affect our operating results; changes in exchange rates could adversely affect our results from operations; our common stock may experience extreme market price and volume fluctuations, which may prevent our stockholders from selling our common stock at a profit and could lead to costly litigation against us that could divert our management’s attention; if we fail to implement our business strategy, our financial performance and our growth could be materially and adversely affected; we may not realize all of the sales expected from our backlog of orders and contracts; many of our revenue opportunities are dependent upon subcontractors and other business collaborators, and a reduction in orders stemming from these companies could adversely affect our operating results; our products face intense competition, which could limit our ability to acquire or retain customers; our success is dependent upon attracting and retaining qualified personnel and our inability to do so could significantly damage our business and prospects; and our international operations are subject to risks that we do not face in the U.S., which could have an adverse effect on our operating results. Reference is made to these and other factors discussed in the "Risk Factors" section of the company's most recent quarterly or annual report filed with the Securities and Exchange Commission. In addition, any forward-looking statements included in this press release represent the company's views as of the date of this release. While the company anticipates that subsequent events and developments may cause the company's views to change, the company specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing the company's views as of any date subsequent to the date this press release is issued.

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