American Superconductor Corp. (NASDAQ: AMSC) has seen its share of ups and downs, with more downs than ups. Still, this company has incredible technology in wind and grid tech, and its current market value allows investors to get into alternative energy and clean-tech without paying much of a premium to the company’s actual book value. Now a fresh announcement from the company only highlights this turnaround even more.

This report has been updated below.

A press release issued on Wednesday indicates that Exelon Corp. (NYSE: EXC), via its ComEd unit, has agreed to develop a deployment plan for American Superconductor’s high-temperature superconductor technology to build a superconducting cable system that will strengthen Chicago’s electric grid. Its shares rose massively on the news — and for good reason.

This announcement is only a small part of why we named American Superconductor as one of seven lesser-known clean tech and alternative with massive upside potential. We are not operating under the assumption that anything will happen overnight for this company, but the opportunity in the United States alone is massive — and that is before you get into its overseas operations.

The company went on to say that the Resilient Electric Grid (REG) effort is part of the U.S. Department of Homeland Security Science and Technology Directorate’s work to secure the nation’s electric power grids and to improve resiliency against extreme weather, acts of terrorism or other catastrophic events.

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Exelon’s ComEd went on to say that it views this project as a natural extension of the infrastructure improvements and technological upgrades that have been underway for the past two years as it develops and deploys the smart grid. Now consider that Chicago is a massive city, and this could be a blueprint for ComEd and other utilities and power companies around the country.