October 15, 2008
Devens Firm Licenses Turbine Tech
By Christina Davis
Devens-based American Superconductor Corp. has licensed two of its wind turbine designs to a South Korean firm.
Under the agreement with South Korea-based Hyundai Heavy Industries Co. Ltd. (HHI), an AMSC subsidiary will license designs for its 1.65 megawatt and 2 megawatt wind turbines. HHI plans to begin production of the smaller of the two turbines by the end of 2009 and hopes to sell them to the alternative-energy-hungry United States.
AMSC did not disclose the dollar amounts involved in the transaction, but did say it will collect upfront license fees in addition to royalty payment for the first several hundred turbines produced by HHI.
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