Published: 25 January 2007 25 January 2007
American Superconductor Corporation has announced that its wholly-owned subsidiary, Windtec, has sold a license in China for its Model WT1650 wind energy system to Zhuzhou Electric Locomotive Research Institute (ZELRI), a division of China-Southern-Loric.
The license includes an upfront fee of approximately US$2 million to AMSC as well as a royalty payment for each WT1650 system installed, and a right of first refusal for AMSC to provide the electrical components for each WT1650 manufactured by ZELRI. The potential revenue to AMSC from royalty payments and sales of electrical components exceeds US$30 million for the first set of WT1650 wind energy systems ZELRI plans to manufacture and install. Based in Zhuzhou City in the Hunan province of China, ZELRI develops and sells electric drive systems for locomotives and inverter technologies for industrial and civil use.