SOURCE: Composite Technology Corporation

December 10, 2007 08:10 ET

Composite Technology Announces Robert C. Rugh as Executive Vice President of Operations for DeWind

IRVINE, CA--(Marketwire - December 10, 2007) - Composite Technology Corporation (CTC) (OTCBB: CPTC) today announces that Robert C. (Bob) Rugh has joined DeWind, Inc., a wholly owned subsidiary of CTC, as Executive Vice President of Operations. In this new position, Bob will initially be responsible for the development and execution of programs for wind turbine supply chain, contract manufacturing, turbine erection and commissioning, field operations and special market programs for DeWind. Mr. Rugh is a seasoned executive with extensive experience in a broad range of industrial and power generation products, including wind turbines.

Mr. Rugh brings to DeWind a wealth of wind industry knowledge, including commercial, engineering, supply chain, manufacturing and site operations. Mr. Rugh most recently served as Vice President, Wind Turbine Group, for Mitsubishi Power Systems Americas (MPSA), where he led MPSA's Marketing, Sales, Engineering, Projects and Operations for Wind Turbines in the Americas. Prior to joining Mitsubishi, Mr. Rugh was responsible for wind turbine components manufacturing for GE Wind LLC. Prior to GE, he served as Vice President, Wind Turbine Manufacturing for Enron Wind Corp. and its predecessor, Zond Energy Systems, Inc. In each of these roles, Mr. Rugh led and was responsible for wind turbine supply chain, sourcing and assembly activities, while providing support for project site coordination and turbine service operations, in geographic locations spanning the globe. Prior to Zond, Mr. Rugh served for over 20 years in a variety of capacities for Westinghouse Electric Corporation, primarily in the power generation and industrial services sectors. Within power generation, Mr. Rugh held a number of positions in engineering, operations, sales and services, and helped lead a Westinghouse renewable power initiative for wind turbine assembly and sales in the 1990s. Within industrial sectors, Mr. Rugh led numerous operations management, services and sales initiatives serving a variety of industrial sectors, including steel, mining, pulp & paper, petrochemical and automotive. Mr. Rugh holds an MBA from the University of Pittsburgh, and a Bachelor of Science in Mechanical Engineering from Pennsylvania State University.

"I am excited to join the DeWind team as the company prepares to launch its latest wind turbine product, the D8.2, into the Global market," said Mr. Rugh. "DeWind has a proven track record, and the D8.2 will continue this momentum, while bringing new design innovations to the market, providing new alternatives for customers who are seeking higher operating efficiencies and reliability in their wind turbines."

Benton Wilcoxon, CEO of CTC, stated, "We are pleased to welcome Bob Rugh aboard our growing company. His knowledge base and industry relationships should make a valuable contribution to our DeWind business at a time when we have begun assembly of our 60 hertz 2 megawatt D8.2 model Dewind turbine and are preparing to supply these novel turbines to the wind power industry in 2008."

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:

--  DeWind Inc. designs, produces, and sells the DeWind series of wind
    energy turbines, including the new 2 megawatt D8.2 model available in both
    50Hz and 60Hz; the 2MW D8 model in 50Hz; and the 1.25MW D6 model in 50Hz.
    The new D8.2, which has been operating since early 2007 at Cuxhaven,
    Germany, utilizes the advanced WinDrive® hydrodynamic torque converter
    developed by Voith AG with a synchronous AC generator that is able to
    connect directly to the grid at high voltage without the use of power
    conversion electronics. Preparations are being completed for a 60Hz version
    to be installed in Sweetwater, Texas, for certification to US standards.
    Commercial D8.2 turbines will be assembled at TECO Westinghouse Motor
    Company in Texas, which will supply turbines in 2008 for our North and
    South American customers.
--  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. When deployed in place of conventional conductors
    on existing systems, the higher efficiency of ACCC conductors enable 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 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 rod is delivered to qualified conductor manufacturers
    worldwide for local ACCC conductor production and resale into local

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 (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 its 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, 2006 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