SOURCE: Composite Technology Corporation

Composite Technology Corporation

March 05, 2010 08:05 ET

Composite Technology Announces First ACCC® Conductor Line Completion in Portugal

IRVINE, CA--(Marketwire - March 5, 2010) -  Composite Technology Corporation (CTC) (OTCBB: CPTC) is pleased to announce that its subsidiary, CTC Cable Corporation, completed its first ACCC® conductor sale and installation in Portugal. EDP Distribucao purchased 4.4 kilometers of ACCC® Amsterdam for its "Valon to Alfena Substation" line, which was recently installed and energized.

By selecting and installing ACCC® Amsterdam conductor, EDP Distribucao saved 31% in total project costs and four weeks in installation time. The utility considered addressing their capacity constraints by comparing the doubling of the existing ACSR Bear power line or reconductoring with ACCC® Amsterdam conductor in a "hot" parallel circuit. ACCC® Amsterdam Conductor was selected to reconductor the existing line due to EDP Distribucao's need to quickly increase ampacity to accommodate a new high voltage client in this highly constrained right-of-way path, while continuously keeping one circuit in service. 

The installation work was completed by Bragalux-Montagens Eléctricas, Lda, under contract with EDP Distribucao and under supervision of CTC Cable. To date over 9,100 kilometers of ACCC® conductor has been purchased for transmission and distribution grids in the U.S., Mexico, South America, Asia, and Europe. 

John Brewster, President of CTC Cable, commented, "We are pleased that our conductor was selected and successfully installed in Portugal for the "Valon to Alfena Substation" project. This installation, combined with recent installations in Germany and Belgium demonstrate our increased market penetration in Europe, and we look forward to continued traction in the region."

About EDP Distribucao:
EDP Distribucao is the company that carries out the Operator Distribution Network in the mainland of Portugal, an activity regulated by the Financial Services Regulatory Authority (ERSE), holding the concession for the operation of the National Distribution (RND) Electric Power Medium Voltage (MV) and High Voltage (AT), and concessions municipal distribution of electricity in Low Voltage (LV). The distribution of electricity is our main focus, which is guided by high standards of quality and efficiency, independence and transparency enshrined in the Code of Conduct of the Company.

About Bragalux-Montagens Eléctricas, Lda:
Bragalux-Montagens Eléctricas, Lda, established in 1980, is an electrical construction company, headquartered in Braga City, Portugal. The company specializes in all types of electrical construction, including transmission, distribution and others. 

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 has 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 is delivered to licensed qualified conductor manufacturers worldwide for ACCC® conductor production and sale into local markets. Over 9,300 kilometers of ACCC® conductor have been ordered and over 8,400 kilometers installed on five continents. ACCC® is a registered trademark of CTC Cable Corporation.

For further information, visit our website: www.compositetechcorp.com 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
    +1-949-428-8500