Composite Technology Wins First ACCC(R) Conductor Order in California
January 06 2011 - 8:05AM
Marketwired
Composite Technology Corporation (CTC) (OTCBB: 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®
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® conductor.
Stephen H. Badgett, RPU's Deputy General Manager, approved the
use of ACCC® conductor based on its lowest total lifecycle cost.
According to Stephen, "The ACCC® 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® 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®
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® 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 6,100 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® 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