American Superconductor Corporation (AMSC) - Company Summary

Business Overview

• Founded: April 9, 1987
• Headquarters: Ayer, Massachusetts
• Primary Business:
  • Leader in providing megawatt-scale power resiliency solutions for the electric grid and Navy fleet.
  • Systems leverage proprietary "smart materials" (high-temperature superconductors, HTS) and "smart software and controls".
  • Focus on enhancing grid reliability, resiliency, efficiency, and supporting renewable energy integration.
  • Develops and sells advanced power electronics, control systems, transformers, capacitors, and surge protectors.

Market Segments & Solutions

• Grid Solutions:
  • Power quality systems (e.g., D-VAR® devices, harmonic filters, STATCOMs)
  • Transmission planning services aimed at reducing congestion, improving power flow, and supporting renewable integration.
  • Urban grid infrastructure to increase reliability and capacity.
  • Marine protection systems (e.g., degaussing systems using HTS cables to reduce ship's magnetic signature)
  • Power management and high-density energy transfer systems (HTS cables and onboard power systems for Navy ships)
• Wind Power Solutions:
  • Design and licensing of wind turbine systems (≥2 MW)
  • Electrical control systems (ECS) for wind turbines
  • Support services including design, customer support, and manufacturing of turbine components
  • Supplies wind turbine power electronics, drive trains, and control technologies to enable efficient, reliable, and cost-effective wind turbines
• Defense & Naval Market:
  • Advanced ship protection systems (HTS-based degaussing systems)
  • Electric power generation and high-power density onboard systems
  • Power distribution and electric propulsion systems for Navy vessels

Key Market Drivers & Opportunities

• Growing need for modernized, resilient, and efficient energy grids.
• Increased renewable energy capacity (over $9 billion total addressable global market).
• Military modernization (US Navy and Royal Canadian Navy ship systems) driven by geopolitical needs.
• Electrification of transportation and industrial modernization (critical materials, semiconductors).
• Supportive government policies, incentives, and regulations including renewable standards, tax credits, and military upgrades.

Customers & Market Presence

• Global Customer Base: Over 100 customers.
• Major Customers Include:
  • Utility companies (e.g., Commonwealth Edison, Innomotics LLC, Capital Power, SSE plc, Ergon Energy)
  • Wind turbine manufacturers (e.g., Inox Wind Limited in India, Doosan Heavy Industries in South Korea)
  • U.S. Navy and allied navies (Royal Canadian Navy)
• Employees: Approximately 569 as of March 31, 2025.
• Revenue:
  • Fiscal Year 2025: $222.8 million (up 53% from $145.6 million in FY2024).
  • Breakdown:
    • Grid segment: $187.2 million
    • Wind segment: $35.6 million

Financial Highlights

• Operating loss of $1.1 million in FY2025, improved from a loss of $11.4 million in FY2024.
• Net income of $6.0 million in FY2025, compared to a net loss of $11.1 million in FY2024.
• Cash and cash equivalents: approximately $79.5 million as of March 31, 2025.
• The company is profitable in FY2024, after prior years of net losses, with positive operating cash flow of $28.3 million in FY2025.
• Recently acquired NWL, a U.S.-based engineered power solutions provider, through a $61.4 million purchase in August 2024.

Proprietary Technologies

• PowerModule™: Programmable power electronic converters
• Amperium®: High-temperature superconductor (HTS) wire capable of conducting many times more electricity than copper or aluminum conductors with minimal power losses.
• System-level products: Including transmission and distribution solutions, ship protection, and wind turbine components.
• Patents: Extensive portfolio worldwide covering superconductors, power quality systems, and wind turbine technologies.

Strategic Focus

• Deliver comprehensive solutions along the power value chain, from generation to distribution.
• Focus on megawatt-scale projects for utilities, wind turbine manufacturers, and military/naval applications.
• Innovate through product development and licensing to increase efficiency and reliability.
• Expand internationally, especially in markets investing heavily in renewable infrastructure and military upgrades.

This summary reflects the company's core operations, customer base, financial performance, and technologies based solely on provided information.