Around the world, utilities are building smart grids that use information technology to run more efficiently and thus save money. Jack Robinson, who manages the Winslow Green Growth fund, likes American Superconductor, a Devens, Mass., company that makes a host of products for the smart grid. Its ceramic power cables, for example, can carry up to 10 times as much load as conventional cables. The stock, about $34 recently, is trading at 22 times next year's earnings. Robinson explains that, with profits growing at 30% annually, a great deal of upside remains.
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