Composite Technology Announces ACCC(R) Conductor Type Certification in Qatar
December 29 2010 - 8:05AM
Marketwired
Composite Technology Corporation (CTC) (OTCBB: CPTC) is pleased to
announce that its CTC Cable Corporation subsidiary has received
"Type Certification" for its ACCC® conductor in the Country of
Qatar. Qatar General Electricity and Water Corporation
("KAHRAMAA"), Qatar's sole transmission and distribution system
owner and operator (TDSOO) for the electricity and water sector in
Qatar, issued the "Type Test Approval" on December 20, 2010. Type
Test Approval by KAHRAMAA allows the specification of ACCC®
conductor for use in electrical transmission and distribution lines
in Qatar.
"With billions of dollars expected to be invested in Qatar in
preparation for the World Cup in 2022, the market will represent a
significant opportunity for our expansion in the Gulf. ACCC®
conductors offer a green, focused economical solution to help
congested electrical grids manage increased demands. We have a very
clear strategy and are squarely on target to obtain Type
Registration of the ACCC® conductor worldwide to accelerate its
adoption. The low sag characteristic of the ACCC® conductor
combined with its high efficiency and high capacity performance
makes the composite core conductor technology an ideal conductor
for use in the Middle East where high ambient temperatures are
prevalent. KAHRAMAA issued the Type Test Approval after conducting
a rigorous review of our test data. Qatar represents a great
achievement for us in the Gulf region and the approval will
resonate significantly with other Gulf countries. We expect many
more countries that are currently in process to follow," commented
Ebbie K. Nakhjavani, Senior Vice President Global Strategies for
CTC Cable.
About KAHRAMAA: KAHRAMAA is the sole
transmission and distribution system owner and operator (TDSOO) for
the electricity and water sector in Qatar. Qatar General
Electricity and Water Corporation "KAHRAMAA" was established in
July 2000 to regulate and maintain the supply of electricity and
water to customers. Since its inception, KAHRAMAA has operated as
an independent corporation on a commercial basis with a total
capital of eight billion Qatari Riyals. KAHRAMAA's mission is to
provide their customers with high quality electricity and water
services, whilst creating value for its shareholders. KAHRAMAA
buys, distributes and sells electricity and water. KAHRAMAA is
mandated to: Formulate Power & Water Purchase Agreements (PWPA)
and provide necessary technical and corporate support for
establishment of generation & desalination ventures; Own,
construct and operate electricity & water transmission and
distribution networks in the State of Qatar; Set-up plans and
programs for development of electricity & water transmission
and distribution networks; Lay out regulations, standards and codes
of practices for electricity & water supplies to buildings and
facilities; Provide consultancy services related to its activities
and operations.
About CTC: Composite Technology
Corporation's patented ACCC® conductor technology enables superior
performance of high voltage transmission and distribution
electrical grids. ACCC 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 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 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 conductor
has been selected for over 6,000 miles (over 9,700 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® 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, 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