AMSC's HYDRA snaps up $25M more from DHS

American Superconductor (NASDAQ: AMSC) today announced new funding from the U.S. Department of Homeland Security (DHS) for its ongoing secure power grid project in Manhattan with Consolidated Edison.

The two companies are using high temperature superconductor (HTS) power cables and ancillary controls to deliver up to 10 times more power through the grid while at the same time suppressing power surges—or fault currents—that can disrupt service.

AMSC and partners have been working on Project HYDRA in conjunction with DHS for the past eight months (see the Cleantech Group's American Superconductor to gird New York grid).

The approach calls for multiple superconducting paths for electricity flow in the local grid to boost system redundancy if individual circuits are disrupted due to severe weather, traffic accidents or 'willful destruction' [ed.: count on DHS for a coloful euphanism when you want one.]

DHS is to provide up to $25 million in total funding for the $39 million project. It has provided approximately $3.8 million of the total to date.

AMSC has been working with subcontractors Con Edison and Southwire Company.

Ultimately, multiple 300-meter-long HTS power cables are to connect two of Con Edison’s Manhattan substations in 2010.

AMSC offers programmable power electronic converters and high temperature superconductor (HTS) wires. It does considerable business in alternative energy, offering grid interconnection solutions as well as licensed wind energy designs and electrical systems.

Shares of AMSC were relatively flat on this morning's announcement, down approximately one percent.

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