SOURCE: Composite Technology Corporation

Composite Technology Corporation

December 14, 2009 08:05 ET

Composite Technology Announces Appointment of John Brewster to Senior Management

IRVINE, CA--(Marketwire - December 14, 2009) - Composite Technology Corporation (CTC) (OTCBB: CPTC) announced today that it has appointed John P. Brewster, as Chief Commercial Officer of Composite Technology Corporation and President of CTC Cable Corporation based in Irvine, California, effective immediately.

Prior to CTC, Mr. Brewster was Executive Vice President and Chief Operating Officer of Calera Corporation, a Khosla Venture funded Startup Company that is dedicated to reversing global warming by capturing and storing greenhouse gasses in the build environment.

Before joining Calera, Mr. Brewster was employed by NRG Energy, Inc. as Executive Vice President of Operations as well as Development Engineering, Construction, and Procurement division. John was responsible for the implementation of the new build and repower program along with plant operations worldwide. John had also served as President of NRG South Central region and represented NRG on boards both domestically and internationally.

Mr. Brewster is a former United States Army veteran, and an active member of the community. He has served on the Board of Directors for the Louisiana Recovery Authority following Hurricane Katrina, SERC Reliability Corporation, Mibrag (a German coal company) and continues to be a senior advisor to Calera Corp.

John Brewster commented, "With the growth in renewable energy and focus on expanding and upgrading the electrical grid, CTC is well positioned to meet the needs of the market with its energy efficient carbon core conductor for transmission and distribution, and I am excited about taking a leadership role to move the company forward."

Benton Wilcoxon, CEO of CTC, stated, "We are very pleased to be adding such a strong and utility experienced individual to our management team at CTC and to head up CTC Cable. I am confident that John will contribute significant leadership to expand awareness and increase sales of our ACCC® conductor in both the North American utility market as well as certain international locations which he has established relationships. This is another step in our plans to spread the use of ACCC® conductor, which in a recent EPRI report, appears to have installed more miles after its commercial introduction, faster than any other high temperature reduced sag conductors. John joins us with the firm belief, that the higher energy efficiency and increased capacity of our conductor is something that cannot be ignored by power transmission companies, legislators, and public utility commissions, if they really understand its advantages and economics."

Marv Sepe will continue as COO of CTC and will provide ongoing assistance to John Brewster in assuming his role as the President of CTC Cable Corporation and to continue the momentum that he has achieved, as well as transitioning his extensive knowledge of ACCC® conductor and the relationships developed with all those involved in the production and sales that we have achieved.

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 have 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 delivered to licensed qualified conductor manufacturers worldwide for ACCC conductor production and sale into local markets. Over 8000 kilometers of ACCC® conductor have been installed on five continents. ACCC® is a registered trademark of CTC Cable Corporation.

For further information, visit our website: or contact Investor Relations, James Carswell, 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/A for fiscal year ended September 30, 2008 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