Science & Technology
Science and Technology
Science and Technology
Fri, May 15, 2009
Thu, May 14, 2009
Composite Technology Corporation: Composite Technology Announces New Order for Cable Business
IRVINE, CA--(Marketwire - May 14, 2009) - Composite Technology Corporation (CTC) (
The new Populus-to-Terminal transmission line is the first 45-mile segment in PacifiCorp's Energy Gateway Transmission Expansion project. Work began at the end-points in Salt Lake City, Utah, and Downey, Idaho, in February, to be in-service by year-end 2010. Once completed, this approximately 135-mile segment of PacifiCorp's Energy Gateway transmission expansion project will help to ensure its two divisions, Rocky Mountain Power and Pacific Power, can serve the long-term electric needs of their customers with a diverse portfolio of generating resources.
CTC Cable's ACCC™ conductor was chosen for this critical line due to its ability to provide capacity expansion with the highest performance and lowest weight. The weight advantage is an additional benefit to the superior temperature sag profile and unmatched transmission efficiency. The choice of CTC Cable's ACCC™ conductor for this application is another strong vote of confidence in ACCC™ conductor, which is the most broadly accepted composite core conductor technology in the industry with over 130 installations with 5,000 miles in service to date. The reliability of patented ACCC™ conductor technology has been proven by its use in transmission lines around the world for over four years, including thousands of miles of transmission lines in China, Mexico, Europe and the US. The patented, high performance hardware used for splicing conductor lines, and attaching the conductor to towers has been comprehensively tested through extensive third-party analysis and is well proven through the deployment of over ten thousand hardware units.
"CTC Cable has a long history with PacifiCorp. PacifiCorp was an early adopter of ACCC™ conductor and has more than four years of experience with the technology. We believe this repeat order exemplifies their confidence in ACCC™ conductor. We are very pleased to see this project come to fruition after the long evaluation period and look forward to working with PacifiCorp on other programs slated for the same region," stated Marv Sepe, COO of CTC and President of CTC Cable.
About Midal Cables Limited:
Midal Cables Limited, founded in 1977, is a premium manufacturer of aluminum & aluminum-alloy rod wire, overhead conductors and aluminum-clad steel wire. Midal has a seamless operation right from processing molten aluminum which they receive from one of the world's largest aluminum smelters, strategically located next door, to finally producing world-class conductor. The aluminum they receive is super pure which allows Midal exceptional control in the quality of its entire product range. Midal's EC grade and various alloy rods are sold around the world as well as being used "in-house" to manufacture a full range of overhead conductors and aluminum wires. Midal also supplies rods and wires for various mechanical applications. Quality is the prime focus of the company and this is emphasized by their ISO 9001, ISO14001, OHSAS 18001certification as well as RUS approval. Midal is one of the largest conductor manufacturers in the world and has a substantial track record of conductor supply to over 60 countries. It has continued a policy of investment in the most up-to-date technology in its plant and puts great emphasis on work force training to ensure the technical excellence of the products it manufactures. For further information visit [ www.midalcable.com ]
About PacifiCorp:
As part of PacifiCorp, one of the lowest-cost electricity producers in the United States, Pacific Power and Rocky Mountain Power provide more than 1.7 million customers in six western states with reliable, efficient energy. PacifiCorp is constructing the Energy Gateway Transmission Expansion project, a more than $6 billion investment across the western United States. The company works to meet growing energy demand while protecting and enhancing the environment. It also strives to promote innovation and works with customers and communities to increase the visibility of renewable energy generation technologies through education and community outreach. Pacific Power is headquartered in Portland and provides electric service to approximately 724,000 customers in Oregon, Washington and California. Rocky Mountain Power is headquartered in Salt Lake City and serves approximately 982,000 customers in Utah, Wyoming and Idaho.
About CTC:
Composite Technology Corporation, based in Irvine, California, USA, develops, manufactures and sells innovative high performance electrical transmission and renewable energy generation products through its subsidiaries:
CTC Cable Corporation produces composite rod for use in its patented high efficiency ACCC* conductors, used in electrical transmission grids. ACCC™ conductors have less line loss compared to similar diameter conventional conductors and therefore enable power generators to reduce the amount of generation while still delivering the same power to customers. Our conductors have demonstrated significant savings in upgrade capital costs as well as operating expenses when substituted in grid systems. ACCC™ conductors enable grid operators to reduce blackouts and brownouts by providing reserve electrical capacity, since they can be operated at higher temperatures without significant thermal line sag. ACCC™ conductors are an economical solution for reconductoring power lines, constructing new lines and crossing large spans. ACCC™ core is produced by CTC Cable and delivered to licensed qualified conductor manufacturers worldwide for ACCC™ conductor production and resale into local markets.
DeWind Inc. designs, produces, and sells the DeWind series of wind energy turbines, including the new 2 megawatt (MW) D8.2 model in both 60Hz and 50Hz, the 2MW D8 model in 50Hz, and the 1.25MW D6 model in 50Hz. The D8.2 turbine uses a WinDrive® hydrodynamic torque converter, by Voith AG, in combination with a synchronous high voltage generator that is synchronized directly to the grid without the use of power conversion electronics. DeWind D8.2 turbines are assembled at TECO Westinghouse Motor Co., in Texas.
*ACCC is a trademark of CTC Cable Corporation
For further information visit our website: [ www.compositetechcorp.com ]. Investor Relations Contact: James Carswell, +1-949-428-8500.
This press release may contain forward-looking statements, as defined in the Securities Reform Act of 1995 (the "Reform Act"). The safe harbor for forward-looking statements provided to companies by the Reform Act does not apply to Composite Technology Corporation (the "Company"). However, actual events or results may differ from the Company's expectations on a negative or positive basis and are subject to a number of known and unknown risks and uncertainties including, but not limited to, new or revised governmental laws and regulations (or the lack thereof) that affect wind energy, competition with larger companies, development of and demand for a new technology, risks associated with a startup company, the ability of the company to convert quotations and framework agreements into firm orders, our customers' fulfillment of payment obligations under the respective supply agreement, our ability to deliver reliable turbines on a timely basis, general economic conditions, the availability of funds for capital expenditure and financing in general by us and our customers, availability of timely financing, cash flow, securing sufficient quantities of essential raw materials, timely delivery by suppliers, ability to produce the turbines and acquire their components, ability to maintain quality control, collection-related and currency risks from international transactions, the successful outcome of joint venture negotiations, or the Company's ability to manage growth. Other risk factors attributable to the Company's business may affect the actual results achieved by the Company, including those that are found in the Company's Annual Report filed with the SEC on Form 10-K/A for fiscal year ended September 30, 2008 and subsequent Quarterly Reports on Form 10-Q and subsequent Current Reports filed on Form 8-K that will be included with or prior to the filing of the Company's next Quarterly or Annual Report.
