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AMSC announces $25m financing

By Chris Reidy

 |  Globe Staff  

  April 04, 2012

AMSC, a Devens firm that makes control systems for wind turbines, has raised about $25 million in gross proceeds through the sale of convertible notes and warrants. Just about a year ago, AMSC, then known as American Superconductor, ran into trouble when the Chinese wind turbine company that was its largest customer stopped accepting shipments of AMSC products. AMSC had to halve its workforce. AMSC is now suing the Chinese wind turbine maker, Sinovel Wind Group, over allegations that Sinovel stole its technology.

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