AMSC Announces $34M Of New Energy Power System Orders
Portfolio Pulse from Benzinga Newsdesk
AMSC, a provider of megawatt-scale power resiliency solutions, has announced $34 million of new energy power systems orders. These orders include various power system components and are expected to contribute significantly to the company's revenues in fiscal year 2023. The orders represent a strong contribution from the renewables market, with wind and solar projects accounting for approximately one-third. Industrial orders, driven by metals, mining, and semiconductor projects, also contributed to nearly one-third. More than 10% of these orders come from serving the U.S. military.

July 18, 2023 | 12:12 pm
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AMSC's announcement of $34 million in new energy power systems orders is expected to boost its revenues in fiscal year 2023. The diverse sources of these orders, including the renewables market, industrial sectors, and the U.S. military, indicate a broadening customer base for the company.
The announcement of $34 million in new orders is a positive development for AMSC, indicating strong demand for its products. This is likely to boost the company's revenues in fiscal year 2023. The diverse sources of these orders, including the renewables market, industrial sectors, and the U.S. military, suggest that the company is successfully expanding its customer base, which could lead to further growth in the future.
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