STI to Exhibit Advancements in 2G HTS Wire Production at the ARPA-E Energy Innovation Summit March 1-3
February 18, 2010 09:00 AM US Eastern Timezone
World leader in the development and production of HTS materials will be exhibiting at the ARPA-E Energy Innovation Summit
SANTA BARBARA, Calif., Feb 18, 2010 (GlobeNewswire via COMTEX) – Superconductor Technologies Inc. (Nasdaq:SCON) (“STI”), a world leader in the development and production of high temperature superconducting (HTS) materials and associated technologies, will be exhibiting at the Energy Technology Innovation Showcase during the ARPA-E Energy Innovation Summit March 1st to 3rd in Washington, DC in booth 230 in the Maryland Ballroom C & D.
The event will highlight the Advanced Research Projects Agency – Energy (ARPA-E) award winners and finalists announced in the fourth quarter of 2009 and showcase the next generation of clean energy technologies. ARPA-E is a new organization within the Department of Energy (DOE) set up to fund projects under the American Recovery and Reinvestment Act of 2009.
“We are excited to be recognized with other companies and research organizations poised to transform our energy economy,” said Jeff Quiram, president and CEO of STI. “Our joint proposal with GE Global Research and Los Alamos National Laboratory for the development of a commercially viable production process for 2G HTS wire was one of 300 finalists out of approximately 3,700 initial submissions.”
“STI is committed to developing a more efficient, scalable manufacturing process for HTS wire. We are now producing initial lengths and enhancing the performance of HTS wire for various commercial applications. We look forward to pursuing additional opportunities with GE and other industry leaders to advance our 2G HTS wire production,” Quiram added.
For additional information about the ARPA-E Energy Innovation Summit Program, visit the website:
About Superconductor Technologies Inc. (STI)
STI, headquartered in Santa Barbara, CA, has been a world leader in HTS materials since 1987, developing more than 100 patents as well as proprietary trade secrets and manufacturing expertise. For more than a decade, STI has been providing innovative interference elimination and network enhancement solutions to the commercial wireless industry. Now, the company is leveraging its key enabling technologies, including RF filtering, HTS materials and cryogenics, to develop applications for advanced RF wireless solutions, power efficient HTS materials, innovative adaptive filtering and government R&D. For more information about STI, please visit http://www.suptech.com.
The Superconductor Technologies Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3963
Safe Harbor Statement
“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding our business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. These factors and uncertainties include: fluctuations in product demand from quarter to quarter which can be significant; the need for additional capital depending on unpredictable cash flow; STI’s ability to diversify its concentrated customer base; the impact of competitive filter products technologies and pricing; unanticipated decreases in the capital spending of wireless network operators; and manufacturing capacity constraints and difficulties.
Forward-looking statements can be affected by many other factors, including those described in the “Business” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of STI’s Annual Report on Form 10-K for 2008 and in STI’s other public filings. These documents are available online at STI’s website, www.suptech.com, or through the SEC’s website, www.sec.gov. Forward-looking statements are based on information presently available to senior management, and STI has not assumed any duty to update any forward-looking statements.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Superconductor Technologies Inc.
For further information please contact Investor Relations, firstname.lastname@example.org, Kirsten Chapman or Cathy Mattison, both of Lippert / Heilshorn & Associates, +1-415-433-3777, for Superconductor Technologies Inc.