IGC-SuperPower Secures Exclusive Licenses From LANL

IGC-SuperPower Secures Exclusive Licenses From LANL
05/29/2001

 

Intermagnetics' Subsidiary IGC-SuperPower Secures Exclusive Licenses from Los Alamos National Laboratory

  • Licenses Include Core Technology For Second-Generation HTS Material And Fault Current Controller System Design
  • IGC-SuperPower Also Signs $1.8 Million Contract With Argonne National Laboratory To Accelerate Improvements In High-Temperature Superconductor Production Process

LATHAM, NY - Intermagnetics General Corporation (Amex:IMG) today announced that its wholly owned subsidiary, IGC-SuperPower, has signed agreements with Los Alamos National Laboratory granting it worldwide exclusive licenses to patents and applications related to manufacturing second-generation high-temperature superconductors (HTS). Superpower also received an exclusive license to technology related to fault current controller systems. Additionally, Superpower received exclusive rights to sublicense any of these technologies.

Separately, IGC-Superpower also announced a $1.8 million collaborative development agreement with Argonne National Laboratory to accelerate technological advances in manufacturing cost-effective, second-generation coated superconductors. Under terms of the new two-year agreement, Argonne will assist and contribute its materials characterization capabilities, such as the Advanced Photon Source, to IGC-Superpower in scaling up the second-generation HTS fabricafon processes to commercial manufacturing levels.

"These agreements represent an extension of the technology transfer agreement we and the two national laboratories announced slightly over a year ago and include know-how and further refinements to the manufacturing process developed by Los Alamos for second-generation material," said Glenn H. Epstein, president and chief executive officer of Intermagnetics. "We believe this will prove to be the best method of cost-effective continuous production of high performance HTS material for use in the electric power industry."

U.S. Sen. Charles E. Schumer (D-NY), a strong proponent of advancing superconducting technology as a means of easing the strain on the U.S. power grid, added: "We are at the precipice of an energy crisis and using new superconducting technology to increase electricity transmission capacity, reliability and quality on existing power lines is a critical component to overcome this energy supply problem. These new agreements should help IGC-Superpower to bring superconductors to market sooner."

IGC-Superpower L.L.C., was formed about a year ago to build upon the Los Alamos and Argonne technology, technology licensed from Lucent Technologies and lntermagnetics' 30 years of experience in developing low- and high-temperature superconducting material and devices. The company's goal is to commercialize HTS devices designed to provide more efficient and reliable means of transmitting and distributing electric power.

IGC-Superpower and several industry and research partners have demonstrated the technical feasibility of HTS devices such as transformers, fault current controllers and cables in more efficiently delivering electric power. The technology transfer and subsequent exclusive licenses are key to making the devices commercially viable.

About The National Laboratories
Los Alamos National Laboratory is operated by the University of California for the U.S. Department of Energy's National Nuclear Security Administration (DOE's NNSA), and Argonne National Laboratory is operated by the University of Chicago for DOE. The DOE Superconductivity Centers at both of these institutions receive support from the DOE's Office of Energy Efficiency and Renewable Energy, Office of Power Technologies.

About lntermagnetics General Corporation
lntermagnetics is a leading developer and manufacturer of superconducting materials, radiofrequency coils, magnets and devices utilizing low- and high-temperature superconducting wire, cable and tape, and related refrigeration equipment. The company currently derives revenues primarily from applications within magnetic resonance imaging for medical diagnostics and cryogenic applications for vacuum and related processes. Through its own research and development programs and in conjunction with industry partners, lntermagnetics is committed to further commercialization of applied superconductivity and refrigeration systems including high temperature superconductor applications for the electric utility industry.

Safe Harbor Statement -  The statements contained in this press release that are not historical fact are "forward-looking statements'' which involve various important assumptions, risks, uncertainties and other factors. These include, without limitation, the assumptions, risks, and uncertainties set forth here as well as in the company's Annual Report on Form 10-K, including but not limited to, the ability of the company and its partners to successfully commercialize and gain market acceptance of HTS products, the company's ability to license certain key technology for the manufacture of HTS wire, the potential adverse impact on the company of emerging patents in this highly competitive field, and the company's ability to invest sufficient resources to bring HTS products to market.

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