MTS Awarded Two Contracts Valued At $17 Million Collectively
MTS will partner with a leading multi-national engineering and manufacturing conglomerate to provide a fault ride through tester for its offshore wind business. This first-of-a-kind solution will help maintain power generation stability of today's large offshore wind turbines.
Today's fault ride through testers can simulate grid failures up to 33kV, but as the size and power of turbines continues to grow, larger capacity grids are necessary, and today's wind turbine parks use 66kV connections. MTS and its partner will be the first to provide a fault ride through solution to help protect wind turbines operating on 66kV.
MTS is also pleased to partner with an industry-leading commercial vehicle manufacturer to design a unique simulator that will provide a more economical means of deriving frame, suspension and chassis performance characteristics earlier in the vehicle development cycle, allowing for faster innovations, including development of next-generation electric commercial vehicles.
The new MTS road simulator will help its partner facilitate product design innovations aimed at reducing emissions for its heavy commercial vehicles. Additionally, MTS' ability to help simulate vehicle performance before full development will help its partner save time and cost and allow it to bring new commercial vehicle innovations to market faster.
"Innovation is at the core of MTS' values and I am pleased that we will support our partners with unique solutions that help them achieve their goals. Importantly, these awards are strategically aligned with our own cultural values and dedication to promoting environmental sustainability," says
This release contains "forward-looking statements" made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties, as well as assumptions, that could cause actual results to differ materially from historical results and those presently anticipated or projected. Words such as "may," "will," "should," "expects," "intends," "projects," "plans," "believes," "estimates," "targets," "anticipates," and similar expressions identify forward-looking statements in this release. Such statements include, but are not limited to, statements about future financial and operating results, plans, objectives, expectations and intentions, and other statements that are not historical facts. These statements are based on our current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements. Risks, uncertainties and assumptions that could cause our actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, those described in the "Risk Factors" section of our most recent Annual Report on Form 10-K filed with the
View original content to download multimedia:http://www.prnewswire.com/news-releases/mts-awarded-two-contracts-valued-at-17-million-collectively-301144401.html
Investors: Brian Ross, Executive Vice President and Chief Financial Officer, email@example.com, (952) 937-4000; Media: Ted McHugh, Ted.firstname.lastname@example.org or Patrick Ryan, Patrick.email@example.com