Superconductor Tech +47% on $4.5M DoE contract

|About: Superconductor Technologies... (SCON)|By:, SA News Editor

Superconductor Technologies (NASDAQ:SCON) +47.5% AH after it was awarded a $4.5M contract by the Department of Energy to improve HTS Wire for its Next Generation Electric Machines program.

SCON says it is teaming with TECO-Westinghouse and academic institutions MIT and the University of North Texas to improve the manufacturing process of superconductive wires to improve performance and yield while reducing cost at high enough temperatures where nitrogen can be used as the cryogenic fluid.

SCON says it expects to transition from R&D to full scale production of motor- and generator-optimized wire during the three-year project plan.