American Superconductor Pockets $22M New Energy Power System Orders

American Superconductor Corp AMSC has received $22 million of new energy power systems orders.
The order is for reactive compensation, enclosed capacitor banks, harmonic filters, voltage controllers, rectifiers, and transformers.
AMSC's new energy power systems solutions include D-VAR, VVO offerings, and NEPSI, Neeltran businesses.
"Our new energy power systems business continues to expand and is accelerating. Our bookings momentum was strong at the start of the fiscal year, and we expect this strength to continue into the second half of fiscal 2021," commented Daniel McGahn, Chairman, President and CEO, AMSC.
The company expects Grid business to drive total revenue growth again in fiscal 2021.
Price Action: AMSC shares are trading lower by 1.35% at $13.91 on the last check Wednesday.

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