The firm specializes in using superconductors for the development of diverse power systems, including but not limited to superconducting wire.

American Superconductor was founded on April 9, 1987, by MIT professor and material scientist Gregory J. Yurek, in his kitchen.

[6] The company operates across three primary business segments: production of high-temperature superconductor (HTS) wire, which has a significantly higher electrical current capacity than copper wire; development of HTS-based motors and generators; and design and manufacturing of power electronic systems for wind farms and transmission systems.

[10][11][12] The world's first production superconducting transmission power cable, the Holbrook Superconductor Project, was commissioned in late June 2008.

[13] American Superconductor was chosen as a supplier for the Tres Amigas Project, the United States' first renewable energy market hub.

Sinovel promptly ended its payments to American Superconductor, causing the company to lose 84% of its market cap.