EXHIBIT 21.1

Subsidiaries

1. American Superconductor Europe GmbH (*)—established in Germany

2. ASC Devens LLC (*)—incorporated in Delaware

3. ASC Securities Corp. (*)—incorporated in Massachusetts

4. Superconductivity, Inc. (*)—incorporated in Delaware

5. NST Asset Holding Corporation (*)—incorporated in Delaware

* Wholly owned subsidiary of American Superconductor Corporation