Composite Technology Appoints John Mitola to Its Board
Wednesday October 31, 8:05 am ET
IRVINE, CA--(MARKET WIRE)--Oct 31, 2007 -- Composite Technology Corporation (CTC) (OTC BB:CPTC.OB - News) announced today that its Board of Directors has appointed John P. Mitola as an Independent Director to the Board of Directors.
"John Mitola brings a range of energy-related practical experience from his engineering, business management, and legal background," stated Benton Wilcoxon, Chairman and CEO of CTC. "In addition to serving as Chairman of the Illinois Tollway for the past 4 years, John has also been a leader in the energy industry throughout his career where he has been active in alternative power development and energy conservation."
Mr. John Mitola was appointed Chairman of the Board of the Illinois State Toll Highway Authority by Governor Rod Blagojevich in March 2003 and has served in that capacity since that time. The Illinois Tollway is one of the largest agencies in Illinois and is one of the largest transportation agencies in North America -- with a $600 million annual budget operating over 274 miles of roadway serving the Chicago metro area and currently undergoing a $6.3 billion reconstruction program. Mr. Mitola is also a managing partner with Kingsdale Capital International, a private equity and capital advisory firm specializing in merchant banking, leveraged buyouts and corporate finance. He was formerly CEO of Electric City Corp. from January 2000 to February 2006 where he led the development of large-scale, demand response systems for utilities. Earlier in his career, he was Vice President and General Manager of Exelon Thermal Technologies (originally a part of Commonwealth Edison) where he oversaw the company's development of several, large-scale, cogeneration thermal storage and power systems across North America. He has over 20 years of experience in the energy and environmental industries, real estate development, venture capital, engineering and construction.
"There are two core components of Composite Technology that make me very excited to join the board," said John Mitola. "Of course, they include their high capacity energy efficient transmission cable business and their innovative wind turbine energy generators. I am looking forward to working with the company on the introduction of its cable efficiency to utility operators and regulators across North America. If there was ever a time the energy industry needed a high capacity, highly efficient transmission cable, it is now." |
