AMSC and Nexans Expand Relationship to Jointly Develop and Deliver Resilient Electric Grid Projects in the U.S. and Canada
Joint Marketing and Sales Agreement to Address Both the United States and Canadian Markets for AMSC’s REG Product and High Performance Power Cables
Paris, August 29, 2016 - AMSC (NASDAQ: AMSC), a global energy solutions provider serving wind and power grid industry leaders, and Nexans, a worldwide expert in the cable industry, today announced a partnership to market and sell AMSC’s Resilient Electric Grid (REG) system, as well as other high performance superconductor power cables, in the U.S. and Canada. As part of this partnership, AMSC and Nexans will collaborate to jointly develop and deliver these projects with existing and potential electric utility customers in the U.S. and Canada.
“We are pleased to be expanding our relationship with Nexans. Nexans is a valued partner and leading provider of utility power cables, that is committed to building advanced power transmission and distribution networks utilizing HTS superconductor technology,” said Daniel P. McGahn, AMSC President and CEO. “We believe Nexans’ expertise in state-of-the-art power transmission and distribution cable systems, along with the combined strengths and assets of both companies, will support commercial projects for REG systems and high temperature superconductor (HTS) power cables. We see particular value being offered to our electric utility customers to help address the commercial complexities of a REG system order.”
“We are proud to partner with AMSC in order to strengthen our offer of superconductor solutions for complex urban power transmission and distribution challenges in the North American utilities market”, said Dr. Dirk Steinbrink, Senior Executive Vice President High Voltage & Underwater Cable Business Group at Nexans. “We believe targeting this market opportunity with a collaborative approach will be incrementally productive to both companies.”
AMSC’s REG system is an innovative approach to the power distribution system that increases reliability and capacity of the electric grid. By enabling the use of transmission and distribution assets in a way that is not feasible with traditional technologies, the REG system enables significant increases in grid reliability and increases load-serving capacity, while limiting the need for additional grid infrastructure, which mitigates any environmental impact. The key component to the REG system is AMSC's breakthrough Amperium® wire that combines with other sub-system design elements to increase the reliability, redundancy, and resiliency of urban power grids, greatly reducing the impact of equipment failure due to aging, cyber threats, physical disasters, or weather-related events.
AMSC's Amperium superconductor wire is able to conduct approximately 200 times the electrical current of copper wire of similar dimensions. This capability also allows for the delivery of a high performance power cable system that can address transmission and distribution challenges facing utilities worldwide.
As a global leader in advanced cabling and connectivity solutions, Nexans brings energy to life through an extensive range of best-in-class products and innovative services. For over 120 years, innovation has been the company’s hallmark, enabling Nexans to drive a safer, smarter and more efficient future together with its customers. Today, the Nexans Group is committed to facilitating energy transition and supporting the exponential growth of data by empowering its customers in four main business areas: Building & Territories (including utilities, smart grids, emobility), High Voltage & Projects (covering offshore wind farms, submarine interconnections, land high voltage), Telecom & Data (covering data transmission, telecom networks, hyperscale data centers, LAN), and Industry & Solutions (including renewables, transportation, Oil & Gas, automation, and others). Corporate Social Responsibility is a guiding principle of Nexans’ business activities and internal practices. In 2013 Nexans became the first cable provider to create a Foundation supporting sustainable initiatives bringing access to energy to disadvantaged communities worldwide. The Group’s commitment to developing ethical, sustainable and high-quality cables drives its active involvement within several leading industry associations, including Europacable, The National Electrical Manufacturers Association (NEMA), International Cablemakers Federation (ICF) or CIGRE to mention a few. Nexans employs more than 26,000 people with industrial footprint in 34 countries and commercial activities worldwide. In 2017, the Group generated 6.4 billion euros in sales. Nexans is listed on Euronext Paris, compartment A. For more information, please consult: www.nexans.com
About AMSC (NASDAQ: AMSC)
AMSC generates the ideas, technologies and solutions that meet the world's demand for smarter, cleaner … better energy™. Through its Windtec™ Solutions, AMSC provides wind turbine electronic controls and systems, designs and engineering services that reduce the cost of wind energy. Through its Gridtec™ Solutions, AMSC provides the engineering planning services and advanced grid systems that optimize network reliability, efficiency and performance. The Company's solutions are now powering gigawatts of renewable energy globally and are enhancing the performance and reliability of power networks in more than a dozen countries. Founded in 1987, AMSC is headquartered near Boston, Massachusetts with operations in Asia, Australia, Europe and North America. For more information, please visit