Dr. Venkat Selvamanickam Promoted To Vice President and Chief Technology Officer

Dr. Venkat Selvamanickam Promoted To Vice President and Chief Technology Officer


Schenectady, NY - It was with great pleasure that Philip J. Pellegrino, president of SuperPower, Inc., today announced Dr. Venkat Selvamanickam’s (“Selva”) promotion to the position of vice president and chief technology officer at SuperPower. Selva will continue to report to the president and will be responsible for establishing the Company’s technical vision, as well as leading all aspects of the Company’s technology development. As the Company’s chief technology officer, Selva will continue to play an integral role in the Company’s strategic direction, development and future growth.

Dr. Selvamanickam will also be responsible for advising SuperPower management on all issues relating to the Company’s technology and will have full responsibility for maintaining and enhancing the Company’s IP portfolio. He will have direct respon-sibility for supervising the technology development organization at SuperPower. As CTO, he will work closely with management on future strategic partnerships, and other industrial, government and academic technology alliances.

Selva’s accomplishments this year, and throughout his tenure at SuperPower/ Intermag-netics, are too numerous to list. The Materials Group, under his leadership, has met or exceeded every major performance milestone established for the 2G wire development program. In March of 2006, the Materials Group began fabrication of 2G HTS wire to meet the requirements for Phase 2 of the Albany HTS Cable Project. The campaign ended successfully with the shipment of 9.7km of wire to Sumitomo Electric Industries in December 2006. Sumitomo will use this wire to manufacture a 30 meter 2G HTS power cable to be installed at the project site later this year.

Selva’s new role will allow him to spend his time charting our path toward the ultimate goal, which is for 2G wire to be a cost-effective, superior replacement for copper by the end of the decade. He will devote more time to directing our IP initiatives to ensure that we can sustain our first mover advantage as the world’s only current 2G wire manufacturing enterprise.

Traute F. Lehner
Communications/Government Relations Specialist
Tel: (518) 346-1414 ext. 3070
Fax: (518) 346-5622

Furukawa Electric Co., Ltd.
SuperPower Inc. is subsidiary
of Furukawa Electric Co., Ltd.
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