SOURCE: Composite Technology Corporation

October 21, 2009 08:05 ET

Composite Technology Announces More Conductor Orders in the U.S.

Repeat Order With NV Energy Spreads ACCC Conductor in Nevada

IRVINE, CA--(Marketwire - October 21, 2009) - Composite Technology Corporation (CTC) (OTCBB: CPTC) is pleased to announce a new order for ACCC™ conductor for its subsidiary CTC Cable Corporation. This order is a repeat order placed by the NV Energy of Reno for ACCC conductor and follows their successful installation of ACCC conductor earlier this year.

The order provides approximately 48 miles of ACCC conductor (14 circuit miles plus spares) for the replacement of a 120kV power line between Spanish Springs Substation in Sparks, Nevada to the Tracy Substation in Washoe County. The conductor selected is ACCC Drake (1020kcmil) to replace the similar weight and diameter ACSR Drake (795 kcmil).

NV Energy needed to increase the ampacity of the line and looked at several options. Rebuilding the line with bundled ACSR 795 kcmil was considered, while it also evaluated various high temperature conductor alternatives in an attempt to use the existing structures. In addition to its superior technical performance ACCC Drake conductor also won out in the cost evaluation as it doubled the ampacity of the existing line while allowing NV Energy to use the existing structures and thereby avoid the cost of rebuilding the line. Other high temperature alternatives required the modification of the existing structures or proved to be higher in cost than ACCC conductor. Avoiding the rebuild of the line also helped with the permitting process.

"We are very happy to serve NV Energy again. The success of our last installation paved the way for this new project. We are also pleased with the NV Energy selection process, which followed objective criteria and clearly chose ACCC conductor on its technical and financial merits. There are many similar projects throughout the United States where ACCC conductor would be an excellent choice when it is evaluated in the same objective manner," stated Marv Sepe, President of CTC Cable.

About NV ENERGY:

Headquartered in Nevada, NV Energy, Inc. is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, are doing business as NV Energy. Serving a 54,500-square-mile service territory that stretches north to south from Elko to Laughlin, NV Energy provides a wide range of energy services and products to approximately 2.4 million citizens of Nevada as well as approximately 40 million tourists annually.

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 have 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 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/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
    +1-949-428-8500