SOURCE: Composite Technology Corporation

Composite Technology Corporation

August 18, 2010 08:05 ET

Composite Technology Receives Rural Utilities Service Certification of ACCC® Conductor

ACCC® Conductor Eligible for Purchase by RUS Financing Participants

IRVINE, CA--(Marketwire - August 18, 2010) -  Composite Technology Corporation (CTC) (OTCBB: CPTC) is pleased to announce that its subsidiary, CTC Cable Corporation, has achieved Rural Utilities Service (RUS) ( conditional acceptance of its ACCC® Conductor. "Conditional acceptance" means the customer must approve the product for use in its power system, and the conductor must be installed according to CTC Cable Corporation's specifications.

This acceptance signifies RUS's recognition to the use of composite core conductor technology by its borrowers as another tool to mitigate their transmission line capacity problems. ACCC® conductor also qualifies for FERC incentives worth up to two percent return on equity under SEC. 925 Electric Transmission and Distribution Programs of the EPA Act of 2005 (

Benton Wilcoxon, Chief Executive Officer of Composite Technology Corporation, commented, "CTC Cable Corporation has supplied over 130 miles of ACCC® conductor to innovative Public Power customers in the US since 2005, with several repeat orders from customers. RUS acceptance may facilitate the growth rate in the adoption of ACCC® conductor by the Public Power market."

Please contact your local CTC Cable Corporation representative for assistance with your conductor problems and detailed information on the aforementioned ACCC® conductor installations.

About RUS:
RUS is committed to helping improve the economy and quality of life in rural America. USDA Rural Development has a $115 billion portfolio of loans and will administer $20 billion in loans, loan guarantees and grants through programs in the current fiscal year. RUS achieves its mission by helping rural individuals, communities and businesses obtain the financial and technical assistance needed to address rural diverse and unique needs.

About CTC:
Composite Technology Corporation's patented ACCC® conductor technology enables superior performance of high voltage transmission and distribution electrical grids. ACCC® conductors use CTC's proven carbon fiber core which is produced by its subsidiary, CTC Cable Corporation, at its Irvine, California headquarters and delivered to qualified conductor manufacturers who produce and distribute ACCC® conductors to operators of electrical grids worldwide. CTC's conductor technology significantly reduces thermal line sag and can replace similar diameter and weight traditional conductors with its higher capacity and more energy efficient ACCC® conductor. It is an ideal conductor for both upgrading existing power lines as well as building new lines since the technology allows for the reduction of the number of support structures and/or a reduction of their height. Since its commercial introduction in 2005, nearly 9,000 kilometers of ACCC® conductor have been installed in all environmental and operating conditions, including severe heat and ice environments, long span applications and high capacity corridors for the modern grid. ACCC® is a registered trademark of CTC Cable Corporation.

For further information, visit our website: 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.

Contact Information

  • Contact:
    Investor Relations
    James Carswell