Benzinga | Feb 18, 2021 08:12AM EST

AMSC Announces $15M Of New Energy Power System Orders

AYER, Mass., Feb. 18, 2021 (GLOBE NEWSWIRE) -- AMSC (NASDAQ:AMSC), a leading system provider of megawatt-scale power resiliency solutions that orchestrate the rhythm and harmony of power on the grid(tm) and protect and expand the capability of our Navy's fleet, today announced $15 million of new energy power system orders. This includes orders for AMSC's D-VAR(r) STATCOM system, AMSC's D-VAR VVO(r) system as well as NEPSI's metal enclosed capacitor banks and harmonic filters. The orders principally serve the renewable and industrial sectors in the United States. These systems are expected to provide voltage regulation by responding to varying load conditions on the electric grid. Most of the revenue from these orders is expected to be recognized in fiscal year 2021.