Chinese firm accused of stealing U.S. firm's superconductor technology
Posted by scapozzola on 09/20/2011
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.
Add a comment
Related recent Blogs
- President Obama visits Baltimore factory to promote infrastructure investment as a means of revitalizing the middle class • by LDonia • 05/17/2013
- May 17, 2013 Headlines: Strengthening our national security, focusing on jobs, and more. • by LRaup • 05/17/2013
- Five reasons you should be concerned about the U.S. military's reliance on foreign manufacturers. • by LDonia • 05/16/2013
- Looking for a manufacturing job? Consider heading to one of these ten metro areas! • by mmcmullan • 05/16/2013
- National Retail Federation dismisses global safety plan for garment factories while Cambodian shoe factory collapses. • by LDonia • 05/16/2013
- OPINION: Aren't we better off buying safe, Made-in-USA products? • by scapozzola • 05/16/2013
- May 16, 2013 Headlines: factory collapses in Cambodia, U.S. retail industry dismisses plan for safer working conditions, & more • by LDonia • 05/16/2013
- U.S. Senate Passes Water Resources Development Act (WRDA) with Buy America Amendment Included. • by scapozzola • 05/15/2013
- And the crystal ball says that U.S. manufacturing is going up/down/sideways... • by scapozzola • 05/15/2013
- Japan's currency moves are heating up a trade problem • by scapozzola • 05/15/2013
