SANTA BARBARA, Calif., May 12, 2011 (GLOBE NEWSWIRE) -- Superconductor Technologies Inc. (Nasdaq:SCON) ("STI"), a world leader in the development and production of high temperature superconducting (HTS) materials and associated technologies, received the MICO award in recognition of its potentially disruptive and market-changing intellectual property (IP). The MICO, which means "To Shine" in Latin, was presented by MDB Capital Group on May 10th at the second annual Bright Lights Conference at the Le Meridien Hotel in New York City.
The Bright Lights Conference focuses exclusively on publicly-traded companies possessing disruptive and market changing IP, providing institutional investors with a venue to discover the largely unrecognized value of embedded IP.
Jeff Quiram, STI's president and chief executive officer stated: "We are leveraging our extensive IP portfolio and manufacturing expertise to develop Second Generation (2G) HTS wire for large emerging power generation device and electricity distribution markets. We are honored to receive the MICO award, which recognizes our significant IP portfolio and the progress we have made applying our industry leading expertise in HTS materials and manufacturing for existing applications that include high power transmission cables, superconducting fault current limiters, and superconducting motors and generators."
"STI stood out as one of the top five companies across all industries with the most potentially disruptive or market changing IP, and we are honored to recognize their achievements in driving IP as an asset class and the impact they are making in driving innovation in America," commented Christopher Marlett, CEO of MDB Capital Group.
About Superconductor Technologies Inc. (STI)
Superconductor Technologies Inc., headquartered in Santa Barbara, CA, has been a world leader in HTS materials since 1987, developing more than 100 patents as well as proprietary trade secrets and manufacturing expertise. For more than a decade, STI has been providing innovative interference elimination and network enhancement solutions to the commercial wireless industry. The company is currently leveraging its key enabling technologies, including RF filtering, HTS materials and cryogenics to develop energy efficient, cost-effective and high performance second generation (2G) HTS wire for existing and emerging power applications, to develop applications for advanced RF wireless solutions and innovative adaptive filtering, and for government R&D. Superconductor Technologies Inc.'s common stock is listed on the NASDAQ Capital Market under the ticker symbol "SCON." For more information about STI, please visit http://www.suptech.com.
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Statements in this press release regarding our business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors, which could cause actual results to differ materially from the forward-looking statements. These factors and uncertainties include, but are not limited to: our limited cash and a history of losses; the limited number of potential customers; the limited number of suppliers for some of our components; there being no significant backlog from quarter to quarter; our market being characterized by rapidly advancing technology; overcoming technical challenges in attaining milestones to develop and manufacture commercial lengths of our HTS wire; customer acceptance of our HTS wire; fluctuations in product demand from quarter to quarter; the impact of competitive filter products, technologies and pricing; manufacturing capacity constraints and difficulties; and local, regional, and national and international economic conditions and events and the impact they may have on us and our customers, such as the current worldwide recession.
Forward-looking statements can be affected by many other factors, including, those described in the "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of STI's Annual Report on Form 10-K for the year ended December 31, 2010 and in STI's other public filings. These documents are available online at STI's website, www.suptech.com, or through the SEC's website, www.sec.gov. Forward-looking statements are based on information presently available to senior management, and STI has not assumed any duty to update any forward-looking statements.
For further information please contact Investor Relations, firstname.lastname@example.org, Cathy Mattison or Mary Magnani of Lippert / Heilshorn & Associates, +1-415-433-3777, for Superconductor Technologies Inc.