SOURCE: Composite Technology Corporation

April 16, 2008 08:05 ET

Composite Technology Announces ACCC Conductor Installation Completed in Poland

ACCC Conductor Energized on Major Transmission Line in Eastern Europe

IRVINE, CA--(Marketwire - April 16, 2008) - Composite Technology Corporation (CTC) (OTCBB: CPTC) is pleased to announce the commissioning of ACCC* conductor on a critical main artery transmission line feeding power to the Polish capital city of Warsaw. The order for the delivery of 350 kilometers (218 miles) of ACCC 460 mm2 "Stockholm" conductor and hardware is the first commercial use of ACCC conductors in continental Europe. In a landmark installation, six local contractors worked simultaneously on different sections of a 96 kilometer (60 mile) transmission line over a 30 day period installing the ACCC conductor and hardware. Outage time was limited due to the critical nature of the line.

Our subsidiary, CTC Cable Corporation, supplied the conductor and certain fittings as well as training and installation expertise on a contract awarded by CTC's agent in Poland, Zircon Poland Sp. z o.o. The line was just energized on Tuesday the 15th of April by the PSE-Operator S.A., the operator of the Polish transmission network.

Mr. Sokolik, President of Zircon Poland Sp. z o.o., reported, "The very short delivery and installation times for this project made this order a tough proposition from the outset. It has been of considerable advantage that ACCC conductor is easy to install quickly and efficiently; crews were thoroughly trained, and the on site installation support from CTC was excellent. We are pleased to see this line energized on schedule."

"This major new installation is another success in our focused effort to expand the use of ACCC conductors into new geographic markets. This represents the largest single order for one installation of our ACCC conductor," stated Marv Sepe, COO of CTC and President of CTC Cable.

ACCC conductors are already in general commercial use in over 3,500 kilometers (2,174 miles) of transmission and distribution grids in the U.S. and China and are on trial in numerous countries around the world. Orders for commercial installations in Mexico have also been recently placed and bidding in several tenders in South East Asia, India and other parts of Europe is currently underway.

About Zircon Poland Sp. z o.o.

Zircon Poland Sp. z o.o. is an experienced trading company specializing in supply, representation and consulting services for electrical wires, cables and accessories for the overhead transmission, power cable, marine cable, nuclear cable, and optical fiber industries. Located in Warsaw, Poland, Zircon offers fast, on-time delivery of high quality cables, accessories and other products that meet or exceed customers' requirements as well as international technical standards. Zircon is the agent for the distribution of ACCC conductors in Poland.

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 available in
    both 60Hz and 50Hz; the 2MW D8 model in 50Hz; and the 1.25MW D6 model in
    50Hz. The new 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 that is connected directly to the grid without the use
    of power conversion electronics. The first 60Hz D8.2 is now operating at
    Sweetwater, Texas, where it will initially be used for demonstration to
    North American customers. 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.