American Superconductor has secured a $25 million turnkey contract from a North American utility, according to a GlobeNewswire release dated July 28, 2026. The company describes it as the largest individual order for mining development in AMSC's history, with delivery expected during fiscal year 2027.
Per the release, AMSC will design, engineer, install, and commission an integrated power system combining modular STATCOM technology with metal enclosed capacitor banks, shunt reactors, and a 138kV power transformer. The stated purpose: strengthen the regional transmission and distribution system to handle increasing industrial loads while sustaining reliable grid performance.
As of May 27, 2026, AMSC reported its 12-month backlog had expanded nearly 40% year-over-year to approximately $280 million, per the company's disclosure. Fiscal year 2026 revenue came in at $299.16 million, up 34.26% from $222.82 million the prior year. Mining is not new territory for AMSC — per prior disclosures, industrials including metals and mining contributed to approximately half of total new energy power systems orders in 2023, and two-thirds of a previously announced $26 million order were for industrial applications such as mining and manufacturing.
On the balance sheet, AMSC reported a net cash position of $143.6 million as of May 28, 2026, with 48.46 million shares outstanding. The company's market capitalization stood at $1.745 billion as of July 8, 2026.
No named executive quote appeared in the primary release as republished.
Trading context: on July 22, 2026, AMSC shares moved between $33.20 and $34.99 on volume of 765.85K shares against a daily average of 592.92K, per the market screener data cited in the brief. Today's broader tape is mixed: the S&P 500 fell to 7,400, down 0.17% from the prior session per Trading Economics, while the Dow posted 52,210, up 263 points on July 27 per Trading Economics. Copper fell to $6.29 per pound, down 0.93%, per Trading Economics.
AMSC, headquartered near Boston and founded in 1987, operates across Grid and Wind segments with offices in Asia, Australia, Brazil, Europe, and North America.
Per the release, contract execution and delivery are expected within fiscal year 2027.