AMSC

In 1987, a group of four individuals from MIT—Gregory J. Yurek, Yet-Ming Chiang, David A. Rudman, and John B. Vander Sande—founded American Superconductor Corporation (AMSC). They started the company with a vision to commercialize high-temperature superconductor (HTS) technology. Securing about $4.5 million in early venture capital, they set out to revolutionize how electricity is transmitted. Four years later, in 1991, AMSC went public on the NASDAQ, raising $36 million to fuel its research and manufacturing of HTS wires. A key moment in their journey was the 2007 acquisition of Windtec GmbH, an Austrian company specializing in wind turbine electrical systems. This move diversified AMSC beyond superconductor materials and into the growing renewable energy sector. A significant challenge emerged in 2011 when AMSC accused its largest customer, the Chinese wind turbine manufacturer Sinovel, of intellectual property theft. The dispute led to protracted legal battles and a massive loss of revenue, forcing AMSC to restructure and pivot away from relying heavily on a single customer. This event fundamentally reshaped the company's strategy. Despite this major setback, AMSC demonstrated resilience. The company leveraged its expertise in power electronics to develop solutions for enhancing grid stability and reliability, including systems for the U.S. Navy. This strategic focus and diversification have been key to its continued operations and its position in the energy technology market today.