SOURCE: Composite Technology Corporation

December 01, 2008 12:43 ET

Composite Technology's DeWind Announces Commissioning of Commercial D8.2 Turbine in Minnesota

2.0 Megawatt Turbine in Pipestone County Completes Mechanical Commissioning

IRVINE, CA--(Marketwire - December 1, 2008) - Composite Technology Corporation (CTC) (OTCBB: CPTC) announced today that its subsidiary, DeWind, has completed the mechanical commissioning of the 2 megawatt D8.2 wind turbine sold to Hilltop Power LLC and erected in Pipestone County, Minnesota. All mechanical commissioning is complete and the turbine will complete electrical commissioning and synchronization with the grid before year end once the local power grid connection comes on line. Power is being sold to Xcel Energy on a local distribution line for use by local customers.

David Norgaard, Owner, and Wayne Hesse of Southwest Wind Consulting, who are the developers for the project, stated, "We are very pleased with the installation and believe the D8.2 is an excellent product that is being produced in the U.S. We look forward to working with DeWind on future Southwest Wind projects."

Benton Wilcoxon, CEO of CTC stated, "We are pleased to start the commercial deployment of our D8.2 turbine in the U.S. Our Sweetwater, Texas, turbine installation was the first D8.2 commissioned in the U.S., initially as a demonstration turbine followed by a sale of the turbine to the Texas State Technical College. The Hilltop turbine is the first strictly commercial deployment in the U.S., and begins a new era for DeWind. Our previous D8.2 installations in Germany and Argentina have demonstrated excellent ability to synchronize with the local grid and provide clean power with built in capability for reactive power control to help stabilize the grid. We expect this turbine will continue to prove the value of our DeWind turbine."

This application is a community power project, where the DeWind turbine has found favor. The community of Willmar, Minnesota has also chosen the D8.2 for its community power application. Prototype versions of the DeWind D8.2 have already logged over 8760 operating hours of clean power delivery in Germany, Argentina and the U.S. The D8.2 turbine for Hilltop was assembled in Round Rock, Texas and incorporates the Voith WinDrive®, a hydrodynamic torque converter which allows constant output speed to the synchronous generator with high voltage output that synchronizes directly with the grid without power electronics.

"We are very happy to be on track to bring the DeWind turbine on line. This project has been eagerly anticipated for many months and we will soon be ready to generate commercial power for the community," stated Evan Johnson, Manager of Hilltop Power LLC and Mechanical Engineering grad from the University of Minnesota. "I'm also very impressed with the DeWind design and construction."

About Hilltop Power LLC:

Hilltop Power LLC is made up of members of Hilltop Farm Corp., of Maple Plain, Minnesota. Funding for the Hilltop power project is in part by a grant from Xcel Energy Renewable Development Fund with financing through Agstar Financial.

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
    ACCC* (Aluminum Conductor Composite Core) conductors, which are "high
    efficiency conductors" for use in electrical transmission grid systems.
    ACCC conductors demonstrate less electricity line losses when compared with
    conventional conductors and when deployed in place of conventional
    conductors on existing systems, the higher efficiency of ACCC conductors
    enables power generators to reduce the amount of power they must generate
    while still delivering the same power to the customers.  They have also
    demonstrated significant savings in upgrade capital costs and operating
    expenses when substituted in grid systems for other conductors. ACCC
    conductors enable grid operators to reduce blackouts and brownouts,
    providing a 'reserve electrical capacity' by operating at higher
    temperatures without significant thermal sag of the lines. ACCC conductors
    are an innovative economical solution for reconductoring power lines,
    constructing new lines and crossing large spans. ACCC composite core is
    delivered to qualified conductor manufacturers worldwide for local 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 has been operating since early 2007 at Cuxhaven, Germany, and utilizes
    the advanced WinDrive® hydrodynamic torque converter developed by Voith
    AG in combination with a synchronous AC generator with high voltage output
    synchronized directly to the grid without the use of power conversion
    electronics. The first 60Hz D8.2 is now operating at Sweetwater, Texas.
    DeWind D8.2 turbines are now being assembled at TECO Westinghouse Motor
    Co., in Texas for our North and South American customers.
    

*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, 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 by 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 for fiscal year ended September 30, 2007 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

  • Investor Relations Contact:
    James Carswell
    +1-949-428-8500