AMSC® (NASDAQ:AMSC), a leading system provider of megawatt-scale power resiliency solutions that orchestrate the rhythm and harmony of power on the grid™ and protect and expand the capability of our Navy’s fleet, today announced $23 million of new energy power systems orders. This includes orders for reactive compensation, enclosed capacitor banks, harmonic filters, voltage controllers, rectifiers and transformers.
“Our bookings momentum, driven by our new energy power systems, is strong.” said Daniel P. McGahn, Chairman, President and CEO, AMSC. “Our new energy power systems orders are 50% higher than we announced a year ago. We expect to continue to grow and diversify our Grid business with our strong bookings in the renewables, metals and mining, and chemical markets.”
AMSC’s new energy power systems solutions include D-VAR® and VVO offerings as well as NEPSITM and NeeltranTM businesses. Customers utilize AMSC’s solutions to provide voltage control, power factor correction, and reactive compensation to stabilize the power grid and prevent undesirable events such as voltage collapse. The systems are designed to detect and instantaneously compensate for voltage disturbances. Along with Neeltran, AMSC offers power conversion products. These products include transformers and rectifiers. Additionally, the systems help utilities manage their power quality concerns and expand grid capacity for renewable distributed generation.
