Composite Technology Wins First ACCC(R) Conductor Order in California
Order Marks Continued Market Penetration in the United States
IRVINE, CA, Jan 06, 2011 (MARKETWIRE via COMTEX) -- Composite Technology
Corporation (CTC) (CPTC) is pleased to announce the first conductor order placed
in California, for its subsidiary, CTC Cable Corporation. The order, issued by
the City of Riverside Public Utilities (RPU), California, is comprised of ACCC(R)
1183 kcmil conductor and associated hardware to be used for reconductoring a
69kV, one mile portion of a 120 MVA transmission line for RPU. Installation is
scheduled for early Spring 2011.
RPU considered upgrading its existing 654 kcmil ACSR conductor to achieve higher
capacity and lower losses at the same clearances. They investigated the use of
advanced conductors on their system and selected ACCC(R) conductor.
Stephen H. Badgett, RPU's Deputy General Manager, approved the use of ACCC(R)
conductor based on its lowest total lifecycle cost. According to Stephen, "The
ACCC(R) conductor provides RPU some unique opportunities to minimize impacts to
overhead construction, including using longer spans and fewer structures as well
as its lower power losses, which will help reduce our carbon footprint."
"Riverside Public Utilities' selection of ACCC(R) conductor for this project
marks another milestone toward CTC Cable's goals of providing high capacity, low
sag (HCLS) efficient conductors to upgrade and increase the reliability of
transmission and distribution grids worldwide. Riverside has a history of
combining innovation and practical decision making. We are pleased and proud to
add RPU to our growing list of customers," stated Stewart Ramsay, President of
CTC Cable Corporation.
CTC Cable is the major global supplier of composite core conductor with over
6,100 miles (9,900 kilometers) of ACCC(R) conductor selected for 156 commercial
deployments on transmission and distribution lines.
About Riverside Public Utilities: Established in 1895, RPU employs over 550
people. It is a municipal utility, owned by the customers they serve. They
provide high quality, reliable services to over 106,000 customers. RPU is
committed to increased use of renewable energy resources and sustainable living
practices that help reduce environmental impacts within the City of Riverside and
the state of California.
About CTC: Composite Technology Corporation's patented ACCC(R) conductor
technology enables superior performance of high voltage transmission and
distribution electrical grids. ACCC(R) conductors use CTC's proven carbon fiber
core which is produced by its subsidiary, CTC Cable Corporation, at its Irvine,
California headquarters and delivered to qualified conductor manufacturers who
produce and distribute ACCC(R) conductors to operators of electrical grids
worldwide. CTC's conductor technology significantly reduces thermal line sag and
can replace similar diameter and weight traditional conductors with its higher
capacity and more energy efficient ACCC(R) conductor. It is an ideal conductor
for both upgrading existing power lines as well as building new lines since the
technology allows for the reduction of the number of support structures and/or a
reduction of their height. Since its commercial introduction in 2005, ACCC(R)
conductor has been selected for over 6,100 miles (over 9,900 kilometers) of
projects in all environmental and operating conditions, including severe heat and
ice environments, long span applications and high capacity corridors for the
modern grid. ACCC(R) is a registered trademark of CTC Cable Corporation.
For further information, visit our website: 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, 2010 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.
Investor Relations:
James Carswell
+1-949-428-8500
SOURCE: Composite Technology Corporation |
