American Superconductor Corp. has found success in the wind energy industry by breaking from the pack and focusing on the licensing of wind turbine designs and the sale of wind turbine components to companies in China.
Conveniently, the Chinese wind energy market is one of the fastest growing in the world at number three just behind the U.S. and Spain. Good for American Superconductor Corp. and good for the Earth. Anything that eases China’s dependence on coal power gets two thumbs up from the Eco Ninjas.
American Superconductor Corp. is definitely booming. With some serious growth in profits from the 2007 fiscal year of $112 million, to the current fiscal year which is expected to be around $180 million. Next fiscal year the company expects to make over $225 million.
Nice for the environment and I’m also thinking nice for the pocketbook. American Superconductor Corp. is listed on NASDAW as AMSC, if you’re so inclined. *
*All investment advice found on the Ninja Network is not only subject to your discretion but is also probably bad advice. We are ninja bloggers, not day traders.