SOURCE: Composite Technology Corporation

December 12, 2008 08:05 ET

Composite Technology Announces ACCC Conductor Line Completion in Mexico

ACCC™ Conductor Line in Mexicali Energized

IRVINE, CA--(Marketwire - December 12, 2008) - Composite Technology Corporation (CTC) (OTCBB: CPTC) is pleased to announce the completion of the first ACCC™ conductor transmission line in Mexico. The Mexicali - Wisteria line was installed this month and successfully energized on December 11.

The pilot line of 19 kilometers is the first to be energized in Mexico for the Comision Federal De Electricidad (CFE). Larger orders are planned for installation later in 2009. Jordana Electric of Calexico administered the CFE order and installation was completed by Covanaro Obras Electromecanicas SA de CV under supervision of CTC Cable's experienced field personnel. This is the first significant use of ACCC™ conductor in Mexico and served as the pilot line for CFE personnel to become acquainted with the installation and handling of CTC Cable's high efficiency conductor and its accessories. ACCC™ conductor is now in use in over 3000 miles of transmission and distribution grids in the U.S., China, and Europe.

CTC Cable has an aggressive plan to expand the use of ACCC™ conductors into new geographic markets, including Mexico and Latin America as large growth markets. The benefits of high energy efficiency ACCC™ conductor fit the needs of the Mexican market very well. CFE has been very progressive in recognizing these benefits and developing solutions for the aging Mexican grid," stated Marv Sepe, COO of CTC and President of CTC Cable.

About Comision Federal De Electricidad (CFE):

Comision Federal De Electricidad (CFE) is a decentralized public entity of the Mexican Federal Government created by decree of the legislative branch of the Mexican Congress in 1937. CFE mainly renders public utility electric energy service throughout Mexico, which consists of generating, conveying, transforming, distributing and supplying electric energy, as well as planning and carrying out all the projects, installations and works required by the national electricity system with respect to planning, execution, operation and maintenance, with the applicable participation of independent energy producers. CFE operates through thirteen regional branches.

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: 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