Science & Technology
Science and Technology
Science and Technology
Thu, June 3, 2010 Composite Technology Announces Further Market Expansion
IRVINE, CA--(Marketwire - June 3, 2010) - Composite Technology Corporation (CTC) (
This first project will significantly improve the capacity and reliability of this portion of the transmission grid serving the Brazilian market. The application of ACCC® conductor represents our initial steps into a very substantial new geographic market for CTC Cable.
CTC Cable's ACCC® Dove conductor was chosen for this application because of its increased capacity, lower sag profile and superior efficiency. With the choice of ACCC® Dove conductor, this transmission line upgrade will not require structure modification or replacement and will have the added advantage of a significantly greater reserve capacity during peak load operation.
Benton Wilcoxon, Chief Executive Officer of Composite Technology Corporation, commented, "CTC Cable Corporation continues to expand its strategic business development efforts into key international markets. We are pleased with this first order from Brazil and look forward to the near term development of this region."
This initial penetration of the Brazilian market represents further evidence of CTC Cable Corporation's position as the world's leading composite core conductor in the electrical transmission and distribution industry. ACCC® conductor is the most broadly accepted composite core conductor technology in the industry with over 140 installations and 9,400 kilometers commercially deployed in transmission and distribution grids in the U.S., Mexico, South America, Asia and Europe.
About CTC:
Composite Technology Corporation, based in Irvine, California, USA, develops, manufactures and sells innovative, high performance, energy efficient electrical transmission conductors through its subsidiary, CTC Cable Corporation. CTC Cable produces composite core rod for use in its patented high efficiency ACCC® conductors, which are used in electrical transmission and distribution grids. ACCC® conductors perform with less line losses when 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. ACCC® conductors also 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. The performance and longevity of CTC's ACCC® conductor technology has been independently verified by certifying agencies, test centers and power grids around the world and has consistently demonstrated significant savings in upgrade capital costs and operating expenses when substituted for traditional conductors in reconductoring upgrades as well as new line construction. ACCC® core, the key component of ACCC® conductor, is produced by CTC Cable and is delivered to licensed qualified conductor manufacturers worldwide for ACCC® conductor production and sale into local markets. Over 9,400 kilometers of ACCC® conductor have been ordered and over 8,500 kilometers installed on five continents. ACCC® is a registered trademark of CTC Cable Corporation.
For further information, visit our website: [ www.compositetechcorp.com ] or contact Investor Relations, 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, resolution of pending and threatened litigation matters involving CTC or its subsidiaries, resolution of disputes with CTC's or subsidiaries' creditors competition with larger companies, development of and demand for a new technology, 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 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 for fiscal year ended September 30, 2009 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.
