AMSC Receives Large Order of Wind Turbines from Hyundai Heavy Industries

"HHI's investment in the wind power industry has created a new growth engine for our company," said Young N. Kim, Senior Executive Vice President and COO, HHI Electro Electric Systems. "Over the course of the past year, we have licensed high-quality wind turbine designs from AMSC Windtec, commissioned our first prototype systems and secured our initial wind turbine orders in Korea and the United States. We see tremendous growth opportunities in front of us and are expanding our wind turbine capacity to support our growth plans."

HHI installed and commissioned its first reference 1.65 MW wind turbine near its manufacturing facility in Ulsan, South Korea in June 2009, less than one year after licensing the design from AMSC Windtec.

In September 2009, HHI http://english.hhi.co.kr/press/news_view.asp?idx=510&page=1 announced Wave Wind, LLC as its first wind turbine customer in the United States. HHI has invested 105.7 billion won (nearly US$90 million) to build a wind turbine manufacturing plant in Gunsan with an annual capacity of 600 MW. The company plans to expand the capacity of the facility to 800 MW by 2013.

"HHI continues to scale its manufacturing operation and execute its aggressive growth strategy in the renewable energies market," said Timothy Poor, AMSC's Senior Vice President of Global Sales and Business Development. "This follow-on order follows close on the heels of the first electrical control system order HHI http://phx.corporate-ir.net/phoenix.zhtml?c=86422&p=irol-newsArticle_Print&ID=1321825&highlight= placed with us in August 2009, demonstrating that its 1.65 MW wind turbines are quickly gaining traction in the marketplace."

About Hyundai Heavy Industries Co., Ltd.
Founded in 1972, Hyundai Heavy Industries (HHI) is an integrated heavy industries company with more than US$15 billion in annual sales. HHI operates six divisions: Shipbuilding, Offshore & Engineering, Industrial Plant & Engineering, Engine & Machinery, Electro Electric Systems and Construction Equipment. The company employs approximately 40,000 people at more than 30 locations worldwide. More information is available at http://english.hhi.co.kr.

About American Superconductor
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 http://www.amsc.com/products/applications/windEnergy/index.html energy, providing proven, megawatt-scale wind turbine designs and electrical control systems. The company also offers a host of Smart http://www.amsc.com/products/applications/utilities/smartgrid.html 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.

SOURCE: American Superconductor Corporation