IRVINE, California, June 22, 2011 /PRNewswire/ --
- ACCC® Conductor Chosen for 132 kV Project in the UK
Composite Technology Corporation (CTC) (OTC Bulletin Board: CPTCQ) is pleased to announce that Scottish Hydro Electric Transmission Ltd (SHETL) has selected and successfully installed ACCC® Oslo conductor for a new line between St. Fergus and Peterhead in the northeast of Scotland.
The eleven kilometer, three-phase line operates at 132kV and is strung on a trident wood pole design. Installation of the conductor began in February 2011 and was successfully completed and the line energized in May 2011.
SHETL selected the ACCC® 318 mm2Oslo conductor for this line because of its ability to run at higher temperatures than conventional conductors, bringing increased capacity to the line.
Stewart Ramsay, President of CTC Cable Corporation, commented: "We are very pleased that SHETL selected ACCC® conductor for this project. We believe that the superior performance of ACCC® conductor, including its higher capacity and the lowest line losses on any conductor available today, will bring real benefits to both the transmission company and its customers, and will contribute towards the UK meeting its CO2 emission reduction targets. We look forward to working with SHETL on other transmission network projects in the future."
SHETL Group Design Manager Landel Johnston said: "This project is a significant investment in the electricity transmission infrastructure in Scotland, ensuring a safe and reliable electricity supply for years to come. We are always looking at innovative solutions and new developments within the industry worldwide and are delighted to be the first in the UK to install the ACCC® conductor on this strategic project in Scotland. It has been selected for this installation and will form part of an ongoing assessment as a possible future alternative for our numerous reconductoring projects if the technology proves cost effective operating on our network.
"It is SHETL's responsibility to develop the transmission system in the North of Scotland, to allow for new demand and generation access to the transmission network. This project is another step in the progress of upgrading the transmission network in the north of Scotland and has taken some time to plan, involving extensive work with local landowners."
Scottish and Southern Energy:
Scottish Hydro Electric Transmission (SHETL) is responsible for operating, maintaining and investing in the transmission network in its area, which serves around 70% of the land mass of Scotland. As the licensed transmission company for the area, SSE has to ensure there is sufficient network capacity for those seeking to generate electricity from renewable (and other) sources within it.
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 10,000 kilometers (6,214 miles) 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: http://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.
SOURCE Composite Technology Corp.