Chinese firm accused of stealing U.S. firm's superconductor technology
In a story headlined "Renewable Industry in Turmoil," the Wall Street Journal reported the troubling story of American Superconductor Corporation. The Massachusetts-based firm licenses its superconductor technology for wind turbines to companies around the world.
The firm has filed a $250 million breach of contract suit against its Chinese partner, Sinovel, and claims that Sinovel paid $1 million to an American Superconductor employee to steal its technology, and then refused to pay for $60 million in parts shipped to Sinovel by American Superconductor.
This is a clear and worrying case of China's ongoing espionage, and it has a serious bearing on the future of American viability in the renewable energy sector.
Related recent Blogs
- The Big Three set the stage for a manufacturing renaissance • by TGarland • 12/10/2013
- Pharmaceutical companies' interests are covered in the TPP -- as for everyone else? Ehh ... • by mmcmullan • 12/09/2013
- A swing and a miss for Biden in Asia • by TGarland • 12/09/2013
- Kickstarting a manufacturing renaissance • by TGarland • 12/06/2013
- U.S. Manufacturing Gains 27,000 Jobs in November: Alliance for American Manufacturing (AAM) Statement. • by scapozzola • 12/06/2013
- Indiana manufacturing program expands • by TGarland • 12/05/2013
- Scott Paul: Keep skilled jobs for skilled workers in Washington • by mmcmullan • 12/05/2013
- December 5, 2013: Another voice for a currency rule in the TPP • by mmcmullan • 12/05/2013
- A bad time to sideline trade talks • by mmcmullan • 12/04/2013
- Infrastructure investment means job creation • by TGarland • 12/04/2013