- The U.S. Navy has "created a sole source solicitation notice" for American Superconductor's (NASDAQ:AMSC) high-temperature superconductor (HTS) equipment. AMSC has also "established a relationship with the Navy to develop HTS power cable hardware for ship board power applications."
- AMSC notes it has collaborated with the Navy for several years on an HTS-based degaussing system, and that the system's core components are "transferable to other applications being targeted for ship implementation."
- The company notes its ship protection systems for the Navy reduce a ship's magnetic signature, which in turn interferes with the ability of an undersea mine to detect and damage a ship. It claims its products can cut degaussing system weight by 50%-70%. On its site, AMSC claims its Amperium HTS wire "conducts approximately 200 times the electrical current of copper wire of similar dimensions."
- Shares have risen to $8.41 AH, hitting their highest levels since a 1:10 reverse split took effect on March 25.