Department of Homeland Security Signs Contract Modification with AMSC

AMSC (NASDAQ:AMSC), cleantech company focused on wind and solar power announced that the Department of Homeland Security has signed a modification agreement for the Resilient Electric Grid (REG) agreement. The REG grid is designed to reduce its environmental impact, increase durability and help prevent cyber attacks on power grids.

As quoted in the press release:

Chicago’s REG project is funded in part by the DHS Science and Technology Directorate initiative to secure the nation’s electric grid against extreme weather or other catastrophic events. The REG system uses AMSC’s high temperature superconductor technology and, under the terms of the agreement between AMSC and ComEd, will link existing electric power infrastructure within the City of Chicago. The REG system is expected to strengthen Chicago’s electric grid and to enhance its load serving capacity, resiliency and reliability.

AMSC expects that the engineering work for the REG project in Chicago will begin in calendar year 2019, the REG project hardware will be delivered in 2020 and the REG system will be operational in 2021.

Click here to read the full press release.