AMSC announces $9M order
AMSC, the Devens-based manufacturer of wind and power grid technology, has received orders for $9 million in power grid-related productss in the U.S. and internationally, the company announced Tuesday.
The orders for the D-VAR STATCOM systems that are used to help stabilize electric grids and enable developers to meet grid interconnection requirements came in over the first four months of 2015, according to the company. Orders are expected to be delivered in the first half of fiscal year 2015.
"These orders represent the strength of our solutions and relationships in the United States, United Kingdom, and Australia as well as further penetration into the South African market,” Daniel P. McGahn, President and CEO at AMSC, said in a release.
The company’s stock rose 3 percent following the announcement. The company’s stock shot up by over 30 percent recently following the announcement of a likely deal with the Navy, but quickly fell following the announcement of a setback in Chinese court.
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