in News Departments > FYI
print the content item

American Superconductor Corp. (AMSC), a Westborough, Mass.-headquartered provider of power electronic systems, has acquired Windtec, a Klagenfurt, Austria-based wind turbine system designer.

This agreement is the result of a relationship that began between the two companies in 2005 when Windtec requested to use AMSC's PowerModule electronic devices to control power flows for turbines in China and Japan. Because the devices were a success, the orders dramatically increased within the past 18 months. AMSC and Windtec have combined their resources in this agreement to expand their operations in order to meet the need of this growth.

"[Windtec] needed to expand their sales force to get more orders - they need to increase their field service team now that they have product going out to so many wind farms, and we already have that," says Greg Yurek, AMSC's chief executive officer and founder. "It just made sense to combine our two companies, take advantage of the synergies and continue to grow rapidly."

Under the terms of the agreement, AMSC will acquire Windtec's wind turbine design patents and pending patents. AMSC plans to retain Windtec's operations in Austria, which has customers in Canada, China, Germany and other countries. The purchase price is 1.3 million shares of AMSC common stock, valued at approximately $12.4 million. The transaction’s closing is expected in January 2007.


Trachte Inc._id1770
Latest Top Stories

Alberta Breaks Wind Power Record, Then Does It Again

Last week, the Alberta Electric System Operator recorded new wind production peaks in the Canadian province - highlighting how well the grid integrated the renewable energy.


Federal Appeals Court Finds Obama's Wind Farm Decision Unconstitutional

A federal appeals court ruled that the U.S. government violated the constitutional rights of Chinese-owned Ralls Corp. when ordering the divestment of four Oregon wind farms.


Renewables Make Up Over 50% Of New U.S. Power In First Half Of 2014

According to a recent government report, renewable energy sources, such as wind and solar, continue to dominate new electric generating capacity.


Suzlon Facility Lends Key Assist In Developing 'The Wind Technicians Of Tomorrow'

The turbine manufacturer’s Elgin, Ill.-based training facility is the culmination of a program that puts a new twist on a proven method of instruction.


Having Their Say: CanWEA Clarifies True Source Of Canadian Wind Success

The Canadian Wind Energy Association (CanWEA) takes issue with a recent report summary regarding various renewable energy policies in North America.

Renewable NRG_id1934
Navigant_id1983
Canwea_id1984