AMSC Pockets $23M In New Energy Power System Orders

American Superconductor Corp AMSC has received $23 million in new energy power systems orders.
The orders include reactive compensation, enclosed capacitor banks, harmonic filters, voltage controllers, rectifiers, and transformers.
"Our new energy power systems orders are 50% higher than we announced a year ago. We expect to continue to grow and diversify our Grid business with our strong bookings in the renewables, metals, and mining and chemical markets," said Daniel P. McGahn, Chairman, President, and CEO.
The company's new energy power systems solutions include D-VAR, VVO offerings, NEPSI, and Neeltran businesses.
Price Action: AMSC shares traded higher by 7.32% at $8.80 on the last check Tuesday.