American Superconductor Corp.’s AMSC Windtec subsidiary has licensed a proprietary 2 MW wind turbine design to Inox Wind Ltd., a unit of the Inox Group of Companies which owns and operates wind farms in India. According to AMSC, the license grants Inox the right to manufacture and sell the wind turbines globally. AMSC will assist Inox in localizing the supply of key turbine components, establish its manufacturing line, and build and test the first prototype turbines in exchange for an up front license fee and ongoing royalty payments. “We view India as a tremendous growth opportunity for all AMSC products,” said CEO and founder, Greg Yurek. (Source: Boston Globe, May 27, 2009)
Contact: Jason Fredette, Director of Investor & Media Relations, American Superconductor Corporation, (508) 621-4177, [email protected], www.amsc.com.