AMSC

What AMSC does

AMSC is a US-based public power infrastructure company (NASDAQ:AMSC, founded 1987, headquartered in Ayer, MA) that designs, manufactures, and licenses equipment for electric grids, renewable generation, industrial processes, and naval defense. Its core technology stack centers on proprietary second-generation High-Temperature Superconductor (HTS) wire branded Amperium®, complemented by IGBT-based power converters (PowerModule™/Power Pole™), STATCOM systems (D-VAR®, D-VAR VVO®, PQ-IVR®), and an acquired transformer/rectifier portfolio (NWL, Neeltran, Comtrafo). Signature offerings include the Resilient Electric Grid (REG) HTS cable system, Windtec Solutions wind turbine designs (2.0–10.0 MW, including SeaTitan™ 10 MW offshore), and HTS-based Ship Protection Systems (SPS) for naval degaussing and propulsion.

The company operates a four-pillar product architecture — Power Protection (STATCOMs, capacitor banks, harmonic filters), Power Supply (ECS converters, wind turbine designs), Power Innovation (REG, SPS, Amperium HTS wire), and Energy Conversion (transformers, rectifiers, ESPs) — organized around Gridtec™ and Windtec™ solution brands. Revenue is generated through hardware sales, turbine-design licensing, multi-year defense contracts, and recurring field service; products are sold via direct enterprise sales ([email protected]), with global manufacturing in the US, India, Austria, and Brazil, plus engineering offices in Austria, the UK, and Australia.

AMSC's customer base spans electric utilities (ComEd, United Power, 100+ D-VAR customers), wind OEMs and developers (Inox Wind, Vestas, Doosan), US Navy and Allied Navies (Royal Canadian Navy $75M SPS contract), and industrial customers (Red Chris Mine, plus semiconductor, chemical, mining, and metals operators). FY2025 revenue reached $299.2 million (+34% YoY) with $133.8M net income and a ~$280M 12-month backlog (+~40% YoY). The company has reshaped its portfolio through serial acquisitions (NEPSI 2020, Neeltran 2021, NWL 2024, Comtrafo Dec 2025) and is publicly traded with a market capitalization of approximately $2.5 billion as of May 2026.

Name

AMSC

Legal name

American Superconductor Corporation

Website

http://www.amsc.com

Company type

Public

Founded year

1987

Operating status

Operating

Headcount range

251–500 employees

Short description

AMSC provides electric power infrastructure solutions spanning HTS wire, STATCOMs, transformers, rectifiers, and wind turbine designs, serving electric utilities, wind OEMs, US and Allied Navies, and industrial customers globally.

Ownership category

akta.pro rank

Product category

Power Grid Equipment

NAICS

Relay and Industrial Control Manufacturing (335314), Turbine and Turbine Generator Set Units Manufacturing (333611)

SIC

Motors & Generators (3621), Power, Distribution & Specialty Transformers (3612), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

FACTS / Reactive Power & Power Quality Systems EPC (SVC/STATCOM, Capacitor Banks) (EUAEABAE)

akta.pro secondary industry

Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF)

Keywords

• Power grid solutions
• High temperature superconductor
• Power quality systems
• Wind turbine technology
• Naval ship protection

Headquarters

HQ city

Devens

HQ country

United States

HQ region

North America

Offices11 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Supply Chain, Marketing or Sales

Revenue model

1. Grid Segment Hardware & Solutions: Sale of grid power quality and resilience hardware including D-VAR STATCOMs, PQ-IVR systems, D-VAR VVO, Resilient Electric Grid HTS cables, capacitor banks, and harmonic filters to utilities and industrial customers; contributed 25% pro forma growth in fiscal 2025 per Seeking Alpha analysis, with the Comtrafo acquisition expanding transformer revenue streams.
2. Wind Turbine Design Licensing & ECS (Electrical Control Systems): Licensing of complete wind turbine designs (2.0 MW to 10.0 MW) via Windtec Solutions to manufacturers for self-manufacturing plus sales of PowerModule™ PM3000W converters, Power Pole™ converters, wtSCADA software, wtCMS condition monitoring, and wtWPC wind park controllers; Wind segment grew 46% pro forma in fiscal 2025; supports 18 GW of wind power globally.
3. Field Service & Custom Engineering: Recurring and project-based revenue from system startup and commissioning, maintenance and repair, on-call/onsite assistance, remote performance monitoring, online historical performance tracking, and custom engineering for wind turbines (Windtec) and transformers/rectifiers (Neeltran); spare parts and replacement components; 24/7 global support.
4. Military Ship Protection Systems: Sale of HTS degaussing systems, propulsion motors, and power generators for US Navy and Allied Navies (e.g., Royal Canadian Navy $75 million contract); customized ship protection systems delivered as multi-year defense contracts.
5. Transformers, Rectifiers & Power Supplies (NWL, Neeltran, Comtrafo): Sale of utility-scale power transformers up to 250 MVA (Comtrafo), distribution/dry-type transformers, custom rectiformers (Neeltran), electrostatic precipitator power supplies, transformers, and inductors; vertical integration across oil-filled, dry-type, water-cooled and pad-mounted configurations spanning 75 kVA to 250 MVA.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels8 records

Core offering

AMSC designs, manufactures, and licenses electric power infrastructure products spanning proprietary Amperium high-temperature superconductor (HTS) wire, power electronics converters, STATCOM reactive power systems (D-VAR, D-VAR VVO, PQ-IVR), Resilient Electric Grid HTS cable systems, utility-scale transformers, industrial rectifiers, electrostatic precipitator power supplies, naval ship protection systems, and 2.0–10.0 MW wind turbine design licensing through its Windtec Solutions unit. The company sells directly to electric utilities, US/Allied Navies, wind turbine OEMs, and large industrial operators under project-based enterprise contracts.

Product overview

AMSC delivers a platform-plus-modules architecture built around four specialty pillars — Power Protection (D-VAR®, D-VAR VVO®, PQ-IVR® STATCOMs and NEPSI Capacitor Banks/Harmonic Filters), Power Supply (Windtec™ Electrical Control Systems and Wind Turbine Advanced Technology including the 2.0–10.0 MW SeaTitan™), Power Innovation (Resilient Electric Grid HTS systems, Ship Protection Systems, and Amperium® HTS wire), and acquired transformer/rectifier portfolios (NWL, Neeltran, and Comtrafo including the Solar Skid). These Gridtec™ and Windtec™ Solutions interoperate across Grid (NEPSI, D-VAR, REG), Wind (Windtec ECS and turbine designs), and Industrial/Military (Electrostatic Precipitators, Ship Protection Systems, transformers, rectifiers) segments, serving utilities, renewables developers, industrial operators, data centers, and the US/Allied Navies.

Differentiator

Problem solved

Functional benefit

Brands

• D-VAR®: Dynamic Volt-Amp Reactive (D-VAR) STATCOM systems for transmission and distribution voltage stability, interconnection of wind/solar plants, and industrial power quality.
• D-VAR VVO®
• PQ-IVR®
• Resilient Electric Grid (REG)
• Amperium®
• SeaTitan™
• PowerModule™
• Neeltran
• NWL
• Comtrafo
• Windtec Solutions
• NEPSI
• PowerPlus™
• PowerCube™
• actiVAR

Products and services

• D-VAR® STATCOM Dynamic Volt-Amp Reactive (D-VAR) systems providing high-speed voltage disturbance detection, low/high voltage ride-through, reactive power compensation, and power factor correction for transmission and distribution networks, industrial operations, and renewable energy plants. Sold to electric utilities, wind/solar developers, and industrial customers globally.
• D-VAR VVO® STATCOM 15 kV distribution-class shunt compensation STATCOM providing fast and precise volt/VAR compensation and reactive power control to address distributed energy resources (DER) challenges such as voltage flicker, dysregulation, and large motor starting. Sold to distribution utilities. Configurable from ±1 MVAR to ±3 MVAR per location.
• PQ-IVR® Power Quality Industrial Voltage Restorer Shunt-connected voltage restoration system detecting power quality issues within milliseconds and injecting precise reactive power via stacked four-quadrant IGBT PowerModule™ inverters, with at least two seconds of ride-through at full power. Sold to industrial customers with sensitive loads (semiconductor fabs, automotive, data centers).
• Resilient Electric Grid (REG) System Urban grid solution using Amperium® HTS wire to deliver transmission-level power (over 100 MW @ 15 kV) with fault current limiting, reducing cable rights-of-way and substation footprints by 75%. Sold to electric utilities for urban substation redundancy and grid resilience.
• Ship Protection Systems (SPS) HTS superconductor-based naval systems including degaussing (up to 80% weight reduction vs. copper), propulsion motors, and power generators for US Navy San Antonio-class amphibious ships and Allied Navies. Sold under multi-year defense contracts.
• Transformers Comprehensive transformer portfolio spanning high-frequency rectifier transformers to 250 MVA utility-scale power transformers, including NWL transformers and inductors, Neeltran rectiformers, and Comtrafo distribution, power, pad-mounted, and dry-type epoxy-cast transformers, plus solar skid substations. Sold to utilities, industrial operators, and renewable developers across the US and Brazil.
• Rectifier Systems (Neeltran) Neeltran high-power rectifier-transformer (rectiformer) systems with air-cooled ratings up to 50 kAdc per 6 pulse at 3,000 Vdc and water-cooled ratings up to 110/220 kAdc per 6/12 pulse at 6,000 VDC, in multi-pulse configurations (6/12/18/24 pulse). Sold to chemical, metals, mining, oil & gas, water treatment, and defense customers.
• Harmonic Filters NEPSI medium-voltage metal-enclosed harmonic filter banks (2.4 kV–38 kV, 0.5–100 MVAR, 60–200 kV BIL) in C-High Pass, High-Pass, Notch, Tuned, De-Tuned, and multi-tuned configurations. Sold to industrial, renewable, commercial, and utility customers.
• Capacitor Banks (NEPSI, including actiVAR™) NEPSI medium-voltage metal-enclosed power capacitor banks providing customizable power factor correction and reactive power compensation, plus the actiVAR™ motor-start solution using ABB DS1M transient-free switching technology. Sold to industrial, utility, and commercial customers.
• Electrostatic Precipitator Power Supplies (NWL PowerPlus™ / PowerCube™) NWL ESP power supplies including PowerPlus™ (IGBT-based high-voltage/high-frequency switchmode power supply) and PowerCube™ solid-state thyristor replacements, plus linear transformer-rectifier (T/R) sets (70–135 kV peak, 200–3,000 mA) and current limiting reactors. Sold to power plants, cement, steel mills, and chemical plants for air pollution control.
• Electrical Control Systems (ECS) — Power Pole™ and PowerModule™ PM3000W Power Pole™ and PowerModule™ PM3000W high-performance power converters for wind and industrial applications featuring IGBT technology, double-conversion architecture, modular/scalable design, ground fault protection, and liquid cooling. Sold to wind turbine OEMs and industrial customers.
• Windtec Solutions Wind Turbine Advanced Technology Licensed wind turbine designs from 2.0 MW to 10.0 MW (including SeaTitan™ 10 MW offshore with HTS generator) — wt3000dd, wt3000df, wt3000fc, wt5500df/fc, wt6000fc, and SeaTitan™ — with proprietary pitch, control, and converter solutions, complemented by wtSCADA, wtCMS, and wtWPC wind park controller software. All IEC and Germanischer Lloyd certified. Licensed to wind turbine OEMs (e.g., Inox Wind, Doosan, Vestas) for self-manufacturing.
• COMTRAFO Compact Skid-Mounted Substation (Solar Skid) Integrated protection, control, transmission, and power distribution skid-mounted substation manufactured from hot-rolled and/or cold-formed steel profiles, providing flexibility, optimized space utilization, and reduced construction timelines for solar complexes. Sold to solar project developers, particularly across Latin America.

Quantifiable outcome

• 200x more power transferred than copper with zero resistance losses via Amperium HTS wire
• +9 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Partnerships

Eleven partnerships are on record, tiered flagship and core.

• Microsoft (with VEIR)flagshipTechnology or Integration · 1 February 2026Microsoft is pilot testing lossless High-Temperature Superconductor (HTS) power lines in collaboration with VEIR to improve electrical efficiency and infrastructure scalability for data centers supporting modern AI workloads; demonstrated significant reductions in cable size and weight. This pilot was highlighted as supporting AMSC stock rally in February 2026.
• Comtrafo Indústria de Transformadores Elétricos S.A.flagshipStrategic or Co-development Partner · 10 December 2025AMSC acquired Brazilian transformer manufacturer Comtrafo in December 2025 (closed December 5, 2025) for approximately US$133 million (cash and stock) per AMSC press release, with Seeking Alpha reporting ~$162 million total including real estate. Comtrafo provides AMSC a profitable revenue history and ~$85M 2026 backlog, expanding product portfolio into Latin American utility markets where Brazil plans to invest over $20 billion in its electricity grid. The acquisition positions AMSC in the $1.13 billion Brazilian transformer market.
• Commonwealth Edison (ComEd)flagshipStrategic or Co-development Partner · 31 August 2025AMSC and ComEd unveiled a Resilient Electric Grid (REG) system on Chicago's grid on August 31, 2025 — the first permanent installation of HTS cable technology in the US electric grid. Board director Terence R. Donnelly worked at ComEd/Exelon from June 1983 to December 2023. AMSC's REG system provides substation redundancy and fault current limiting for Chicago's urban power network.
• NWL, Inc.flagshipStrategic or Co-development Partner · 5 August 2024AMSC acquired NWL, Inc. (Nothelfer Winding Laboratories) in August 2024 in a deal valued at approximately $56.4 million including cash and stock payments. NWL is a leading manufacturer of transformers, inductors, and Electrostatic Precipitator (ESP) power supplies with an average revenue of about $55 million annually. Founded 1930, NWL extends AMSC's product offerings in military and industrial sectors with PowerPlus™, PowerCube™, T/R sets, and Current Limiting Reactors.
• Doosan Heavy IndustriescoreStrategic or Co-development Partner · 1 January 2022South Korea-based Doosan Heavy Industries is AMSC's wind technology partner for offshore wind. In 2022, AMSC successfully developed and internationally certified an 8 MW class offshore wind turbine with Doosan using AMSC's Windtec designs. AMSC also penetrated the South Korea wind market in 2008.
• Neeltran, Inc.coreStrategic or Co-development Partner · 6 May 2021AMSC acquired Neeltran in May 2021 for $4.5M cash plus $4.3M stock plus $7.6M debt extinguishment. Connecticut-based Neeltran, founded 1973, designs and manufactures custom rectiformers (rectifier-transformers) for chemical, metals, mining, oil & gas, water treatment, and defense/military applications. Acquisition expanded AMSC's industrial product offerings and market share, expected to be earnings-accretive within 12 months.
• NEPSI (Northeast Power Systems, Inc.)flagshipStrategic or Co-development Partner · 1 January 2020AMSC acquired Northeast Power Systems (NEPSI) in 2020 to accelerate path to profitability. NEPSI, founded 1995 in New York state, is a leading global supplier of medium-voltage metal enclosed capacitor banks and harmonic filter banks (actiVAR™, Harmonic Filters). Integrated with AMSC's Gridtec Solutions and PQ-IVR products.
• Infinia Technology CorporationcoreTechnology or Integration · 1 January 2017AMSC acquired Infinia Technology Corporation in 2017, obtaining cryocooling technology to deliver greater value to its customers, business partners and shareholders. Infinia's cryocooling capabilities support AMSC's HTS-based products requiring cryogenic operating temperatures.
• Inox Wind LimitedflagshipStrategic or Co-development Partner · 1 January 2015Inox Wind is AMSC's largest wind segment customer and partner in India. $210M strategic agreements signed in 2015; 3 MW class wind turbine design certification completed in 2021; initial 3 MW ECS order received 2023. AMSC's Wind segment is approximately 90% dependent on Inox per Seeking Alpha analysis, making this a flagship relationship critical to AMSC's renewable energy revenue.
• Northrop GrummancoreStrategic or Co-development Partner · 1 January 2009Co-development partner with AMSC for naval superconductor propulsion motors. In 2009, AMSC and Northrop Grumman announced successful testing of a 36.5 MW superconductor ship propulsion motor, the most powerful motor tested by the US Navy at that time, achieving 50% size & weight reduction versus conventional designs.
• Windtec (Austria)flagshipStrategic or Co-development Partner · 1 January 2007AMSC acquired Windtec in 2007, a leader in engineering of wind turbines pushing the boundaries of innovation. Founded 1995 in Völkermarkt, Austria, Windtec develops turbine designs from 2.0 MW to 10.0 MW (including SeaTitan™). Now AMSC's Windtec Solutions business line, providing complete electrical and mechanical system designs to manufacturers for self-manufacturing.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Hitachi Energy: Hitachi Energy (formerly Hitachi ABB Power Grids) is a global leader in transformers, HVDC, grid integration, and power quality solutions. It directly overlaps AMSC's Gridtec Solutions portfolio (STATCOMs, transformers, reactive power compensation) and competes head-to-head for utility grid modernization and data center power contracts.
• S&C Electric Company: S&C Electric is a US-based specialist in power quality, voltage regulation, fault protection, and grid automation products. It competes most directly with AMSC's D-VAR STATCOMs, PQ-IVR voltage restorers, and NEPSI capacitor/harmonic filter banks serving the same utility and industrial customers.
• Toshiba Energy Systems & Solutions: Toshiba ESS manufactures HTS wire/cable, transformers, and grid solutions — the closest global analog to AMSC's Amperium HTS wire and REG system technology. It is one of the few companies worldwide with grid-scale HTS deployment experience and competes for similar utility HTS pilot and deployment contracts.

Broad incumbents

• ABB: ABB is a broad incumbent in electrification, motion, and process automation, offering transformers, drives, power quality products, and grid solutions. While AMSC competes in narrower niches, ABB's portfolio overlaps across nearly all of AMSC's grid and industrial product lines at much larger scale.
• Siemens Energy: Siemens Energy is a global incumbent in power generation, transmission, HVDC, transformers, and grid software. It competes with AMSC across the grid (transformers, HVDC, STATCOMs), wind (turbines/ECS), and HTS-adjacent grid solutions, though at vastly larger scale and broader scope.
• GE Vernova: GE Vernova, the power-focused spin-off of GE, offers grid solutions, wind turbines, and power generation equipment. It overlaps AMSC's Windtec turbine design/ECS business and competes in grid hardware (transformers, STATCOMs) for the same utility customers and data center power opportunities.
• Eaton: Eaton is a diversified power management company offering transformers, UPS, power quality, and industrial control products. It competes with AMSC in power quality (PQ-IVR alternative solutions), industrial transformers (NWL/Neeltran/Comtrafo alternatives), and grid reliability for utility and data center customers.
• Schneider Electric: Schneider Electric is a global incumbent in energy management and automation, with grid solutions, transformers, and power quality products that overlap AMSC's Gridtec portfolio. It competes in utility modernization, data center power infrastructure, and industrial power quality markets.

Emerging players

• VEIR: VEIR is an emerging US startup developing HTS power lines specifically for AI data center power delivery, currently in pilot testing with Microsoft (Feb 2026). It represents the most direct emerging threat/opportunity comparable to AMSC's REG and Amperium HTS wire in the data center vertical.
• SuperOx: SuperOx is a Russian HTS wire and tape manufacturer serving grid, medical, and industrial applications. As a focused HTS wire producer, it is comparable to AMSC's Amperium business and represents the type of upstream competitor that could supply HTS material to REG-style deployments at scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/nasdaq_amsc
• LinkedInlinkedin.com/company/american-superconductor

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries7 records

Funding overview

Funding rounds8 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A7 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AMSC