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Article: American Superconductor Corporation and Electricite de France forge strategic alliance.
- Article from:
- Business Wire
- Article date:
- April 2, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WESTBOROUGH, Mass.--(BUSINESS WIRE)--April 2, 1997--
Electricite de France backs HTS technology advancements with
$10 million investment
American Superconductor Corporation (Nasdaq: AMSC), a leading developer of high temperature superconductor (HTS) technology, announced today the execution of a strategic alliance agreement with Electricite de France, one of the world's largest electric utility companies, headquartered in Paris. Under the terms of the agreement, an affiliate of Electricite de France will purchase 1 million shares of AMSC stock for $10 per share and American Superconductor will use the $10 million to accelerate the ...