– Strengthens Conductus Superconducting Wire IP portfolio –
AUSTIN, Texas, Feb. 16, 2017 (GLOBE NEWSWIRE) -- Superconductor Technologies Inc. (STI) (Nasdaq: SCON ) was awarded a U.S. Patent enabled by STI’s proprietary superconducting wire manufacturing method. This patented process improves Conductus ® wire’s performance in the presence of a strong magnetic field.
U.S. Patent No. 9,564,258 entitled “Coated Conductor High Temperature Superconductor Carrying High Critical Current Under Magnetic Field By Intrinsic Pinning Centers, And Methods Of Manufacture Of Same” from the U.S. Patent and Trademark Office (USPTO), associated with U.S. Patent No. 9,362,025 announced in June 2016, provides additional protection for STI’s unique manufacturing process.
“This new patent protects the foundation from which we will build high performance wire for our customers,” said Jeff Quiram, STI's President and CEO. “The flexibility provided by our proprietary manufacturing process enables STI to build superconducting wire in very unique ways.”
The ability to carry high electrical current in the presence of a strong magnetic field is a key enabler for the superconducting applications of the future. Using a technique called pinning, superconducting wire performance is dramatically improved. The traditional approach is to add more elements when manufacturing the superconducting layer, thereby increasing the complexity of an already challenging process.
Quiram continued, “STI has demonstrated the ability to incorporate pinning into our superconductor without using additional elements. This technique is now protected, allowing STI to meet the needs of our customers without the cost and difficulty of an increasingly complex manufacturing process. We believe that this will allow us to deliver the highest performing wire with high manufacturing yields, enabling us to be a market leader. Our proprietary RCE-CDR process makes Conductus wire ideal for applications such as motors, generators, MRI and NMR machines that require high in-field performance. We are excited about the growing demand for more efficient alternatives to traditional materials and designs, as well as our positioning in the industry.”
Reactive Co-evaporation and Cyclic Deposition Reaction Rare Earth, Barium, Copper Oxide (ReBCO) materials are recognized as a superior superconductor by offering better performance in a magnetic field. STI’s RCE-CDR process grows a ReBCO superconductor film onto a flexible template. This process requires accurate temperature, uniform pressure, precise ratios of elements and the presence of oxidizing atmospheres to grow high performance superconducting materials. The company’s RCE-CDR system is scaled for large batch operation to insure every portion of superconducting wire has uniform material properties.
About Superconductor Technologies Inc. (STI) Superconductor Technologies Inc. is a global leader in superconducting innovation. Its Conductus ® superconducting wire platform offers high performance, cost-effective and scalable superconducting wire. With 100 times the current carrying capacity of conventional copper and aluminum, superconducting wire offers zero resistance with extreme high current density. This provides a significant benefit for electric power transmission and also enables much smaller or more powerful magnets for motors, generators, energy storage and medical equipment. Since 1987, STI has led innovation in HTS materials, developing more than 100 patents as well as proprietary trade secrets and manufacturing expertise. For more than 20 years STI utilized its unique HTS manufacturing process for solutions to maximize capacity utilization and coverage for Tier 1 telecommunications operators. Headquartered in Austin, TX, Superconductor Technologies Inc.'s common stock is listed on the NASDAQ Capital Market under the ticker symbol “SCON.” For more information about STI, please visit http://www.suptech.com .
Safe Harbor Statement Statements in this press release regarding our business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors, which could cause actual results to differ materially from the forward-looking statements. These factors and uncertainties include, but are not limited to: our limited cash and a history of losses; our need to materially grow our revenues from commercial operations and/or to raise additional capital (which financing may not be available on acceptable terms or at all) in the very near future, before cash reserves are depleted (which reserves are expected to be sufficient into the first quarter of 2017), to implement our current business plan and maintain our viability; the performance and use of our equipment to produce wire in accordance with our timetable; overcoming technical challenges in attaining milestones to develop and manufacture commercial lengths of our HTS wire; the possibility of delays in customer evaluation and acceptance of our HTS wire; the limited number of potential customers and customer pressures on the selling prices of our products; the limited number of suppliers for some of our components and our HTS wire; there being no significant backlog from quarter to quarter; our market being characterized by rapidly advancing technology; the impact of competitive products, technologies and pricing; manufacturing capacity constraints and difficulties; the impact of any financing activity on the level of our stock price; the dilutive impact of any issuances of securities to raise capital; the steps required to maintain the listing of our common stock with a U.S. national securities exchange and the impact on the liquidity and trading price of our common stock if we fail to maintain such listing; the cost and uncertainty from compliance with environmental regulations; and local, regional, and national and international economic conditions and events and the impact they may have on us and our customers.
Forward-looking statements can be affected by many other factors, including, those described in the "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of STI's Annual Report on Form 10-K for the year ended December 31, 2015 and in STI's other public filings. These documents are available online at STI's website, www.suptech.com , or through the SEC's website, www.sec.gov . Forward-looking statements are based on information presently available to senior management, and STI has not assumed any duty to update any forward-looking statements.
Investor Relations Contact Cathy Mattison or Kirsten Chapman LHA +1-415-433-3777 invest@suptech.com
