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Composite Technology Announces Qualification of Alcan Cable
Stranding Qualification Kicks Off Commercial Rollout of ACCC(R) Conductors by Alcan Cable
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Press Release Source: Composite Technology Corporation On Monday August 16, 2010, 8:05 am
IRVINE, CA--(Marketwire - 08/16/10) - Composite Technology Corporation (CTC) (OTC.BB:CPTC - News) is pleased to announce that its CTC Cable Corporation subsidiary has granted manufacturing qualification to Alcan Cable, to strand ACCC® conductor in North America. The grant of qualification comes after a thorough review of the manufacturing and quality systems of the Alcan Cable plant in Williamsport, Pennsylvania and the testing of stranded ACCC® conductor produced by Alcan Cable.
Earlier this year, CTC Cable and Alcan Cable signed definitive agreements that gave Alcan Cable the right to distribute ACCC® conductor to a range of key customers in North America and develop the ability to strand ACCC® conductor in its established North American factories. By attaining stranding qualification, Alcan Cable will now begin their sales and commercial rollout of ACCC® conductor to a select range of customers, consisting of nearly three dozen of the most influential utilities and transmission agencies in North America. Alcan Cable is expected to provide a fresh viewpoint and strategy for the market and use its well established relationships to provide a platform for accelerated adoption of ACCC® conductor. The combination of the Alcan Cable team with the expanded CTC Cable technical and business development teams will provide a powerful new thrust for ACCC® conductor sales in North America.
Alcan Cable will also provide stranding services for CTC Cable as it serves the balance of North America and the global market. The presence of a qualified strander in the U.S. is expected to reduce lead times and provide a local resource for the development of new market-driven ACCC® conductor configurations. Alcan Cable joins an elite list of cable companies around the world that are qualified to strand ACCC® conductors. CTC Cable has qualified stranders in Europe, China, Indonesia, the Middle East, and North America and is currently qualifying new stranders in South America. ACCC® composite core production will continue at CTC Cable's ISO 9001:2008 certified facilities in Irvine, California. CTC Cable will continue to provide support and training of installation teams in the North American market through its Field Application group.
"This is an exciting time for CTC Cable. With the qualification of Alcan Cable we now have a strong stranding source to serve the North American market and beyond. Most importantly, we worked very closely with the Alcan team throughout this process to develop a clear strategy for accelerating adoption of ACCC® conductor in the North American market. This includes articulating the value proposition for ACCC® conductor in new ways that will resonate with the North American utilities," commented Benton Wilcoxon, CEO of Composite Technology Corporation.
About Alcan Cable:
Alcan Cable has provided its customers with quality products and outstanding customer service for over 100 years. With its headquarters in Atlanta, Georgia, Alcan Cable is a leading manufacturer of aluminum cable, modular wiring systems, and rod and strip products and has seven manufacturing operations -- six in North America and one in China.
For further information, visit our website: www.cable.alcan.com or contact: Rhonda Buckley at Alcan Cable, Atlanta, +1 770 392 2381.
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, nearly 9,000 kilometers of ACCC® conductor have been installed 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 co
Composite Technology Wins Third ACCC(R) Conductor Order in South Africa
Order Marks Continued Modern Conductor Adoption in South Africa
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IRVINE, CA--(Marketwire - 08/11/10) - Composite Technology Corporation (CTC) (OTC.BB:CPTC - News) is pleased to announce a new order for its subsidiary, CTC Cable Corporation. The order, issued by Allteck Line Contractors, a Quanta Services company (NYSE:PWR - News), is comprised of ACCC® 611 kcmil conductor and associated hardware to be used for reconductoring an 88kV, 135 kilometer portion of a 60-100 MVA transmission line for City Power Johannesburg in South Africa. Installation is scheduled for November 2010.
The exponential demand growth and resulting strain on the electrical grid in the Johannesburg region of South Africa has led City Power Johannesburg to take steps to modernize its grid quickly and efficiently. Quanta Services selected CTC Cable's ACCC® Conductor to enable City Power Johannesburg to increase capacity over 100% while reducing both line losses and thermal sag on existing structures. Quanta Services use its patented propriety LineMaster™ robotic-arm and energized technique of replacing the conductor while the line is energized, so there is no interruption of electrical service or rerouting of the load.
This order follows last year's order for 210 kilometers and another emergency replacement order in June 2010 for 23 kilometers and demonstrates the confidence Quanta Services and City Power Johannesburg have in ACCC® conductor's superior composite core conductor technology as the best solution for the severely constrained electrical grid in Johannesburg. CTC Cable is the major global supplier of composite core conductor, with about 9,000 kilometers of ACCC® conductor commercially deployed at over 140 installations.
City Power in Johannesburg contracted Quanta through a local South African partner, Edison Jehamo Power (EJP), to uprate the existing 88 kV network around Johannesburg, using Quanta proprietary LineMaster™ energized robotic arm technology. The Quanta Team selected high-temperature composite core conductors for the replacement wire because it can operate at 200 degrees C under peak loading conditions. The ACCC® conductor performs well both during energized installation and under operation.
In this first phase of the project, 12 km of four double circuit 88 kV lines had to be uprated through a congested Right-of-Way (ROW) with limited access in the urban areas of Johannesburg.
"We are pleased with this new order for our ACCC® conductor from Quanta Services. The combination of our patented higher capacity conductor technology with Quanta's patented installation technique significantly improves the capacity and reliability of City Power Johannesburg's system without interrupting service to their customers," stated Benton Wilcoxon, Chief Executive Officer of Composite Technology Corporation.
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, nearly 9,000 kilometers of ACCC® conductor have been installed 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 R
great product and good times ahead for sure
Check out today's news!
Composite Technology Announces International Expansion
Global Strategy Supports National Export Initiative
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Press Release Source: Composite Technology Corporation On Monday August 9, 2010, 8:05 am
IRVINE, CA--(Marketwire - 08/09/10) - Composite Technology Corporation (CTC) (OTC.BB:CPTC - News) is pleased to announce that its CTC Cable Corporation subsidiary has formed a new operation in China. CTC Cable has a defined strategy in multiple international markets and is moving forward with plans to expand the business and ultimately boost revenues and jobs in its U.S. operations. These actions are in concert with the goals of President Obama's National Export Initiative, which seeks to double exports within five years.
CTC Cable is pleased to announce the formation of its subsidiary in China, named CTC Cable Asia Ltd. Located in Beijing, the Chinese company will act as the regional source for market development, educate power grid professionals on the unique advantages of ACCC® conductor technology, provide interface with governmental agencies, support development of qualified Chinese ACCC® conductor manufacturers, and promote regional awareness of CTC's technology and brand name. The new subsidiary will be the first direct CTC presence in China. Experienced senior executives for the Chinese subsidiary have already been hired using a recruiting process run by an international search firm and these new personnel will actively commence CTC operations this month. A search will continue to add a substantial number of key business development and technical application personnel.
CTC Cable has invoked these strategies to more aggressively control its patented technology, to promote its brand name and advance the sales of ACCC® conductor in one of the world's largest markets. This is one critical step in a multi-step strategy that will include more business units in China to spread the CTC Cable brand name and accelerate the use of ACCC® conductor products. ACCC® conductor is the only composite core conductor proven through wide spread and sustained operation on the Chinese power grid for nearly five years. With outstanding performance, ACCC® conductor has endured all climatic and operating conditions, including heavy ice load, high temperature operation, high winds, and corrosive atmospheres.
"We are very excited about the opening of our Beijing subsidiary. We have chosen experienced individuals with specific knowledge of the customers, the power grid, and the internal workings of the state owned utilities to form the core of our Chinese operations. We believe their contacts will be tremendously beneficial and will foster those critical relationships necessary to convince customers that our technology enables unique and highly cost effective solutions required to modernize the grid. As we combine this experience level with the seasoned staff additions we have recently made in our Irvine headquarters, we will have assembled a powerful team to address this massive and complex market," stated Benton Wilcoxon, CEO of Composite Technology Corporation.
CTC Cable is in the process of initiating similar new strategies in other international markets, including Latin America, the Middle East, Eastern Europe, and other parts of Asia. CTC Cable has added experienced team members to its staff with specific expertise in those strategic markets. CTC's global strategies are very clear and the company's expertise in addressing international markets is gaining recognition.
In May of this year, Marvin Sepe, Chief Operating Officer of CTC, traveled to China with Secretary of Commerce Gary Locke on the Obama Administration's Clean Energy Mission to promote the adoption of advanced U.S. technologies in China. CTC joined twenty-three other companies that represented the best that America has to offer in proven clean energy and efficient energy technologies. The trade mission raised the profile of CTC in China and underscored the importance of CTC's technology. CTC has maintained close ties with the Department of Commerce and Mr. Sepe represents CTC as an active member of the Southern California Regional District Export Council, a working arm of the Department of Commerce. As part of this role, Mr. Sepe was invited to the White House in early July as part of a select group to be briefed by the President and the Secretary of Commerce on the progress made on the National Export Initiative, the President's ambitious goal to double exports from the U.S. within 5 years. CTC will continue to contribute its viewpoint and market knowledge to the Department of Commerce as it crafts export policies and programs to support the President's goal.
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 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, nearly 9,000 kilometers of ACCC® conductor have been installed 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 wit
Today is end of 2nd Quarter, 10K Report from company should be soon. They have been paying off alot of debt I see good organic growth here .
PPS should move up slowly IMO
Up-chuck, I presume, please detail .31 for cptc and ETA
Goldrusher - While I haven't met the man, we did exchanged a few e-mails years ago. Sorry to hear about his passing. BTW his alias was NBSER on Raging Bull.
Sounds like their product is really getting noticed. Obviously its a superior product and more customers will see the benefits of utilizing this product.
I hope the sales staff is working it hard. I am sure in this economy its tough alot of utilities are holding back capital outlay projects.
I am Long on this baby, GO CPTC GO
For those that might have known him.....
I received a strange e-mail containing the obituary for Bruce
Nielson (a long time supporter of CPTC....can't recall his alias
on the message boards.) Bruce was from Racine, Wisc. and seemed
to be a real nice guy.
cheers
PS Guinness is good for you
Composite Technology Announces First Project in Qatar
ACCC(R) Conductor Selected for Reconductor Project in Qatar
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Press Release Source: Composite Technology Corporation On Wednesday June 16, 2010, 8:05 am
IRVINE, CA--(Marketwire - 06/16/10) - Composite Technology Corporation (CTC) (OTC.BB:CPTC - News) is pleased to announce a new order for its subsidiary, CTC Cable Corporation from Midal Cables Limited. The order is for ACCC® core to be stranded by Midal to produce 70 kilometers of ACCC® Drake conductor for a reconductor project of an existing 132 kV, 125 MVA per circuit ACSR Zebra conductor transmission line. This project will upgrade the line into a higher capacity 260 MVA per circuit ACCC® Drake conductor line. Installation is scheduled for September 2010.
CTC Cable's ACCC® Drake conductor was chosen for this project because it exceeded ACSR's mechanical and electrical parameters and its slightly smaller outer diameter offered better performance in wind conditions. Due to lower resistance and reduced line losses, our conductor enabled an increase in capacity without replacing existing structures. The application of ACCC® conductor in this line substantially improves the capacity and reliability of the transmission grid serving Qatar in the KAHRAMAA network.
Benton Wilcoxon, Chief Executive Officer of Composite Technology Corporation, stated, "The continued adoption of ACCC® conductors within new territories shows the effects of our new marketing strategies. We are very excited to receive this first order from the Middle East and are looking forward to further near term expansion in the region."
This entry into the Middle Eastern market is further evidence of CTC Cable'
It seems that Garth mentioned on the BESV board a couple of months back that he had just bought CPTC at around .30. I'm not sure if he's still holding.
This certainly appears as good news for CPTC and it's longs.
Anyone know if Derx and Garth are still invested with CPTC?
Patsy? TripletDad?
I wish you all well!!
cheers
PS Guinness is good for you
I'm assuming this is the first sale to them, and yes, I see it as really good news.
Selling ACCC in Brazil now?...
Wow!...That's good news...Is this the first sale to them?...
Composite Technology Announces Further Market Expansion
ACCC(R) Conductor Chosen for Reconductor Project in Brazil
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Press Release Source: Composite Technology Corporation On Thursday June 3, 2010, 8:05 am
IRVINE, CA--(Marketwire - 06/03/10) - Composite Technology Corporation (CTC) (OTC.BB:CPTC - News) is pleased to announce a new order for its subsidiary, CTC Cable Corporation in Brazil. The order is comprised of ACCC® Dove conductor and associated hardware to be used for reconductoring an existing 138 kV, 217 MVA, single circuit ACSR Dove conductor transmission line. This project will upgrade the line to a higher capacity 310 MVA ACCC® Dove conductor line. Installation is scheduled for October 2010.
This first project will significantly improve the capacity and reliability of this portion of the transmission grid serving the Brazilian market. The application of ACCC® conductor represents our initial steps into a very substantial new geographic market for CTC Cable.
CTC Cable's ACCC® Dove conductor was chosen for this application because of its increased capacity, lower sag profile and superior efficiency. With the choice of ACCC® Dove conductor, this transmission line upgrade will not require structure modification or replacement and will have the added advantage of a significantly greater reserve capacity during peak load operation.
Benton Wilcoxon, Chief Executive Officer of Composite Technology Corporation, commented, "CTC Cable Corporation continues to expand its strategic business development efforts into key international markets. We are pleased with this first order from Brazil and look forward to the near term development of this region."
This initial penetration of the Brazilian market represents further evidence of CTC Cable Corporation's position as the world's leading composite core conductor in the electrical transmission and distribution industry. ACCC® conductor is the most broadly accepted composite core conductor technology in the industry with over 140 installations and 9,400 kilometers commercially deployed in transmission and distribution grids in the U.S., Mexico, South America, Asia and Europe.
About CTC:
lost .23 per share with 263,000,000 shares in the float.
Good question, nicehit. So I think I hear you saying we're undervalued? I think so, too. When companies are undervalued, it's usually just a matter of time until the value is reflected by the street. Accumulation is key, IMO.
Composite Technology Joins Administration's First Cabinet Level Trade Mission:
IRVINE, Calif., May 25 /PRNewswire-FirstCall/
Trip to China Promotes Export of Leading U.S. Energy Efficient Products...
Composite Technology Corporation (CTC) (OTC Bulletin Board: CPTC) has been selected by the U.S. Department of Commerce to accompany Commerce Secretary Gary Locke on the premiere trade mission of the Obama administration to China. CTC is one of 24 leading corporations in the clean energy field invited to promote U.S. exports and support American jobs.
CTC's Chief Operating Officer Marvin Sepe has joined executives of General Electric, Duke Energy, Peabody Energy, the Boeing Company and other business leaders on the senior delegation visiting Hong Kong, Shanghai and Beijing, China to meet with government officials, energy industry experts and leading Chinese businesses.
CTC's subsidiary CTC Cable has a long history of successfully providing its high efficiency ACCC® conductor throughout China to improve the capacity and efficiency of that nation's power grid. It has been officially designated by the Chinese State Grid as a "green product" for use throughout the country.
China's rapid economic growth has been accompanied by a huge increase in demand for energy and has experienced a collateral dramatic jump in greenhouse gas emissions. The country has enacted new rigid guidelines for reducing major pollutants and greenhouse gases creating an important opportunity for American companies to provide a wide range of clean energy technologies.
"We have joined some of the finest U.S. companies in bringing advanced energy efficient products and services to fulfill the huge Chinese appetite," said Marvin Sepe, CTC's Chief Operating Officer. "We look forward to once again showcasing our cutting edge conductor technology to policy makers guiding the expanding electrical grid in China and supporting this essential global relationship."
The performance and longevity of CTC's conductor technology has been independently verified by certifying agents, test centers and power grids on five continents. It has consistently demonstrated significant savings in upgrade capital costs and operating expenses when substituted for traditional conductors in upgrades and new line construction.
SOURCE Composite Technology Corporation
http://ih.advfn.com/p.php?pid=nmona&article=42964360&symbol=CPTC
Man with all this green stuff from Washington... why the heck is our price where it is.
We have sales all over the world... and we are stuck under $1.
I think IMO this is a very shaky company with self serving greedy management that may have a great product.
Good luck to the longs.
i am in the same camp i sold out a while back but watchign what i think is a good solid company
i held for 3 years sold last 2500 share in march
I may not be one of the CPTC longs at this time, but I am surely
rooting for them as I have met many of them and they are a great
bunch and deserve to have their patience rewarded. Go CPTC!!!
cheers
PS Guinness is good or you
Got this from the Y board, dated 5/10/10:
http://www.fegroup.com.cn/English/NewsInfo.asp?ID=610
Well, CPTC is about the only decent stock I had today. It's holding up really well considering the massacre the market's taking.
Composite Technology Announces ACCC(R) Conductor Project in Indonesia
Repeat Order for ACCC(R) Core From One of CTC Cable's Newest Stranding Sources
Press Release Source: Composite Technology Corporation On Wednesday May 19, 2010, 8:05 am
IRVINE, CA--(Marketwire - 05/19/10) - Composite Technology Corporation (CTC) (OTC.BB:CPTC - News) is pleased to announce an order for ACCC® core for its subsidiary, CTC Cable Corporation from one of its two stranding sources in Indonesia, PT Tranka Kabel, for PLN Sumatera Grid (PLN). This order represents the fourth ACCC® conductor project purchased from Indonesia. Installation is scheduled for completion by September 2010.
PLN, the sole provider of electricity in Indonesia, called a tender to build a coal fired power plant in the Batu Raja area of Indonesia. This new power plant required an upgrade to the Bukit Kemuning to Kota Bumi transmission line to handle the increased capacity on the line, which is the backbone for transferring energy from South Sumatera Province to Lampung Province. Since the line spans a highly populated area, PLN was concerned with sag and the possibility of de-energizing the critical line for a lengthy period of time.
After a comprehensive analysis of ACCR and ACCC® conductors as candidates to reconductor the 37 mile double circuit single conductor ACSR Hawk 150 kV line, PLN chose Lisbon sized ACCC® conductor. By selecting ACCC® Lisbon, the utility was able to increase capacity and greatly reduce both sag and critical construction time.
Benton Wilcoxon, Chief Executive Officer of Composite Technology Corporation, commented, "This repeat order by PT Tranka Kabel for another PLN project demonstrates increased customer acceptance in the growing Indonesian market. CTC Cable looks forward to expanding its relationship with PT Tranka Kabel and increasing market penetration in Indonesia."
About PT Tranka Kabel:
Founded in 1952, PT Tranka Kabel was the first cable manufacturer in Indonesia. Its continued success through five decades lies in the company's commitment to quality. Since 1972 Tranka Kabel has been producing telephone cables of various types and sizes. Today with the current facilities, Tranka Kabel is able to produce telephone cables from 1 pair up to 2,400 pairs. The Company also produces aluminum and copper rods for power cables, including ABC cables, bare conductor, low voltage, medium voltage and control cables. Situated on the outskirts of Jakarta, the present manufacturing facilities consist of two plants on 15 hectares of land. In 1994 the second plant was equipped with state of the art machinery especially from Nokia Cable's machinery of Finland.
About CTC:
Composite Technology Corporation, based in Irvine, California, USA, develops, manufactures and sells innovative, high performance, energy efficient electrical transmission conductors through its subsidiary, CTC Cable Corporation. CTC Cable produces composite core rod for use in its patented high efficiency ACCC® conductors, which are used in electrical transmission and distribution grids. ACCC® conductors perform with less line losses when compared to similar diameter conventional conductors and therefore enable power generators to reduce the amount of generation while still delivering the same power to customers. ACCC® conductors also enable grid operators to reduce blackouts and brownouts by providing reserve electrical capacity, since they can be operated at higher temperatures without significant thermal line sag. The performance and longevity of CTC's ACCC® conductor technology has been independently verified by certifying agencies, test centers and power grids around the world and has consistently demonstrated significant savings in upgrade capital costs and operating expenses when substituted for traditional conductors in reconductoring upgrades as well as new line construction. ACCC® core, the key component of ACCC® conductor, is produced by CTC Cable and is delivered to licensed qualified conductor manufacturers worldwide for ACCC® conductor production and sale into local markets. Over 9,300 kilometers of ACCC® conductor have been ordered and over 8,500 kilometers installed on five continents. ACCC® is a registered trademark of CTC Cable Corporation.
I was out for a while until I saw the PR that mentioned Quanta Services doing some work with ACCC in So Africa. That got my interest back and I have done ok since but my timing getting in after this last run was a bit premature. I wish they would make a deal to supply conductor in Southern California. There is so much work down there and it will be that way for a good while. Even if they offered to supply it at cost, maybe then they could then get into the bigger stuff and get to stand next to Big Arnold, He has been out to a couple of our jobs, looks good on his resume. lol
Heli,
You may have gotten this started with the info you gave them. I personally think we've bottomed and I'm accumulating more. I feel really good about CPTC at these prices from a risk/reward standpoint.
This type of conductor is perfect for that type of reconductor job. I was working down there on another project for Keys and showed one of the inspectors CPTC's web site about three or four years ago when he mentioned they needed to do something but they have cement pole structures there with plenty of useful life left. Hopefully we will be remembered as they look at the bids.
zig - I bought my first shares in Aug of '03 -- have bought many more and a good bucket load at recent lows -- looking to do very well on my investment. of course you have do a little research and have balls to invest in this kind of stock.
re Benton - he and his crew has done far better than other little piss ant companies like 3M, Nexans, etc. in developing and selling tech superior conductor - and they have survived the depression where most similar companies failed.
good luck - and there will still be plenty of room for the risk adverse to make money after it takes off. we will see...
Composite Technology Announces ACCC(R) Conductor Order for Keys Energy
ACCC Conductor Saves Utility $1.5 Million in Structures on Transmission Reconductor Project
marketwire
Press Release Source: Composite Technology Corporation On Monday May 10, 2010, 8:05 am
IRVINE, CA--(Marketwire - 05/10/10) - Composite Technology Corporation (CTC) (OTC.BB:CPTC - News) is pleased to announce that its subsidiary CTC Cable Corporation has received an order from Keys Energy for ACCC® conductor. This order is for a three mile transmission reconductor project that spans the Garrison Bight Bay outside of Key West, Florida. The conductor will be installed in August 2010.
Keys Energy needed to increase the capacity of the line without modifying existing structures. It was also interested in the improved sag characteristics of ACCC® conductor. By selecting ACCC® Linnet to replace ACSR Linnet, Keys Energy saved $1.5 Million by not having to replace or modify fifteen existing structures. Line sag was also significantly reduced and the ampacity on the line was increased by 50%.
Benton Wilcoxon, Chief Executive Officer of Composite Technology Corporation, commented, "We are pleased that power producers in the U.S. and around the world are choosing ACCC® conductor to significantly reduce total ownership costs. With a simple conductor replacement, Keys Energy was able to increase capacity and improve efficiency on a congested line without having to replace a significant number of towers."
"We are very excited about the benefits of ACCC® conductor and will consider it for all future reconductoring and new transmission projects," stated Dale Finigan, Director of Engineering & Control at Keys Energy.
About Keys Energy:
Keys Energy Services (KEYS) is the public power utility for the Lower Florida Keys. Headquartered in Key West, Florida, KEYS provides electricity from Key West to the Seven-Mile Bridge and serves more than 28,000 customers.
The City of Key West purchased the electric utility in 1943, and the City Council created the Utility Board to oversee KEYS (then known as City Electric Systems before the utility's name was changed in 2002). In 1969, the Florida State Legislature passed a new enabling act for the governing of KEYS, which is still in effect today, and calls for the popular election of five Utility Board members serving four-year terms. Through the Utility Board, KEYS' customers have a say in their municipal electric utility.
Initially, KEYS only provided electric service to the City of Key West. In 1953, the utility expanded its service area to the Seven-Mile Bridge. In those early years, electricity was produced via local generation.
In the late 1970s, the Utility Board studied alternative power supplies and decided to construct a transmission line (or TIELINE) to interconnect to the mainland power grid. On May 8, 1987, KEYS interconnected the TIELINE with the mainland power grid and KEYS' operations changed dramatically.
KEYS currently imports nearly all of its power supply and uses local generation for emergency back-up only. The utility relies on power from the mainland because it is far less expensive than local generation. As a member of the Florida Municipal Power Agency's All Requirements Project, KEYS pools its power resources with other public power utilities in the State. Together, the public power utilities in the state of Florida enjoy greater efficiency and economies of scale.
Today, KEYS is a nationally recognized Reliable Public Power Provider (RP3) by the American Public Power Association and a local leader with GREEN initiatives that help conserve energy and improve the environment. KEYS maintains a highly respected position within its local community, and in the Public Power industry, for its dedication to reliable electric service and forward thinking initiatives -- KEYS customers have come to expect nothing less than the best from the utility that has been powering paradise since 1943.
About CTC:
Composite Technology Corporation, based in Irvine, California, USA, develops, manufactures and sells innovative, high performance, energy efficient electrical transmission conductors through its subsidiary, CTC Cable Corporation. CTC Cable produces composite core rod for use in its patented high efficiency ACCC® conductors, which are used in electrical transmission and distribution grids. ACCC® conductors perform with less line losses when compared to similar diameter conventional conductors and therefore enable power generators to reduce the amount of generation while still delivering the same power to customers. ACCC® conductors also enable grid operators to reduce blackouts and brownouts by providing reserve electrical capacity, since they can be operated at higher temperatures without significant thermal line sag. The performance and longevity of CTC's ACCC® conductor technology has been independently verified by certifying agencies, test centers and power grids around the world and has consistently demonstrated significant savings in upgrade capital costs and operating expenses when substituted for traditional conductors in reconductoring upgrades as well as new line construction. ACCC® core, the key component of ACCC® conductor, is produced by CTC Cable and is delivered to licensed qualified conductor manufacturers worldwide for ACCC® conductor production and sale into local markets. Over 9,300 kilometers of ACCC® conductor have been ordered and over 8,400 kilometers installed on five continents. 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.
It's Benton Wilcoxon...
NOT Brenton Wilcox...
No need to Google him...
Just read this!...The writer nails it...lol
http://firebentonwilcoxon.com/
I've been following this company for six years now...
Thanks I'll Google him.
Wouldn't blame them. Shame though product would seem to have great potential. If you google Brenton Wilcox this is his MO. Plenty of potential always a pay day but just for Brent and cronies.
I'm not in anymore but WOW What happened here?!?
.17 matched 52 week low and over 2 mil in volume with no news?!?
Wonder if a long got out because of the guy you're talking about.
loved this stock pre Dewind before knowing that Wilcox was the great Houdini in self promotion. He could write the book on how to profit and suck all the gold from the golden goose while leaving Shareholders diluted and pennyless.
Looks like he is raiding the cofers once again with 100K cash and 100% matching salary. This time from borrowed funds as the gift that just keeps on giving to BW and cronies only.
I'm thinking you have good instincts both on Alcan and the government. I'm hoping they both come to fruition.
ditto on your post bman
in that post on Yahoo it sounds like CTC has applied for other related/contingent grants - possibly for plant/equipment/etc
Im just guessing - but I think this may end up being some sort of JV with Alcan - whatever it is, it looks to be good and since they will be getting Govt money I would also expect some of the Govt G&Ts to be more inclined to use ACCC - as we know price is not even a consideration for the Govt
it is obvious that the main reason 3M had what few sales they have here in the US was because they had Govt involved early and probably own at least a few politicians
Nice Find BMAN...
Zen, I think you're right.
Thanks for the link, but as I read it, the DOE is allocating $1.25M of Recovery Act Funding to cover half of a $2.5M Total Project Value to train workers at the ACCC production facility in MO.
Good news none the less....and hopefully foreshadows some DOE support for ACCC installation projects.
Certainly, a point worth considering. I would expect that there are many like me, however, that remember the stock reaching over $6 and can see the potential for this again. CPTC is much further along in the business now than they were then. There is a new face or two in management since the semi-old days. I realize BW is still CEO, and I hope he has learned from his mistakes. I would say he has made his share of them. I don't know how strong the hands are that hold this stock. I have a pretty firm grip on my core position shares and have accumulated a good bit more lately. I will trade some but hold the largest pecentage for what I think will be a very nice pay day. Good luck to you.
I agree that the company has huge potential. But I think a question in the the mind of many people is whether current leadership can lead this company to the promised land. Honestly, I'm not sure. I think many now have the attitude of "show me the money." Plus, so many shareholders have been under water for so long that there will be a ton of selling as the stock moves up. I doubt that many of the shares here are in "strong hands" any longer.
I'm sure that plays into it, however, that may turn out to be a small number relative to how big this company could potentially become. But yes, if we were at half the O/S, the pps would probably be around double what it is presently. JMO.
Yes. A big number. That's got to be part of why the stock price is depressed.
Shares outstanding according to Yahoo: 288.27 million. Is that what you have?
I agree the stock should start moving up. The problem we have is a lack of management execution over a long period of time and a massive number of shares outstanding. But I'm still holding.
Our patent situation looks stronger as of the March 8 release and the suit against Mercury should look stronger as referenced in this paragraph from the March 8 PR:
CTC Cable's suit against Mercury for willful patent infringement had been stayed by the Court pending the outcome of the reexamination of the '319 patent and of U.S. Patent No. 7,368,162 ("the '162 patent"). The USPTO issued a similar Notice for the '162 patent on February 24, 2010. In light of the foregoing, CTC Cable is requesting that the stay be lifted so that it may proceed against Mercury. The USPTO has now considered the patentability of each of CTC Cable's '319 patent and '162 patent twice, taking into account Mercury's best attempt to argue invalidity. Consequently, CTC Cable believes that its suit against Mercury is now even stronger.
The patent and lawsuit situation plus the relationship with Alcan and now the DOE grant give us a number of good reasons from recent sources to believe CPTC is on the right track toward becoming solid. Add to that the success of the cable in a number of locations on the globe and I think we could really have a winner, here. How can this be a .27 stock? Just my opinion.
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Composite Technology Corporation
2026 Mc Gaw Avenue
Irvine, CA 92614
949-428-8500 Tel
949-428-8515 Fax
http://www.compositetechcorp.com
James Carswell
Director of Investor Relations
Phone:760-416-8628
Fax:949-660-1533
http://www.compositetechcorp.com/ctccontact.htm
CTC is a global provider of electric utility solutions featuring its composite technologies. CTC's transmission, distribution, and industrial cable products address a $50 billion annual global market that is projected to exceed $80 billion within 10 years.
CTC's premiere product is a composite-reinforced conductor known as ACCC (Aluminum Conductor Composite Core) cable. ACCC cable has the potential to enhance electrical grids by offering more power than traditional aluminum cables, stronger materials and improved reliability.
The CTC Solution:
CTC's ACCC (Aluminum Conductor Composite Core) cable is capable of doubling the current carrying capacity in emergency conditions, like during a heat wave, with its grid-overwhelming air conditioning overload, when compared to existing transmission and distribution cable. It increases system reliability by reducing to a large degree, high-temperature sag, caused by the need to crank up the amperage to meet the consumer's expectations of comfort.
Benefits of having higher strength and reduced sag include the ability to avoid the need to re-engineer new steel towers in the near term, and the heavier-duty ACCC cables can also be configured to match the original tower design until new rights-of-way are realized or bigger towers are utilized. ACCC's niche is best achieved in longer distance river crossings, where additional towers cannot be engineered due to the impedance of navigational constraints. Standard installation procedures can be employed while using common bullwheel radii in the usual fashion and it resists environmental degradation as it will not rust, corrode, or cause electrolysis with aluminum conductors or components.
Diversity of Composites:
Composites are a proven and broadly accepted technology in a wide range of applications in the aerospace, energy, industrial, and transportation markets that touch consumers' lives on a daily basis. All of these applications demand high-strength and cost-effective solutions that, above all else, increase product safety and reliability. CTC's technology and manufacturing techniques harness the benefits of composites for the diverse needs of the energy marketplace. CTC has established relationships with existing cable manufacturers to expand production and assist utilities and governments in achieving improvements in power grid capacity and reliability worldwide.
Recent Headlines
http://finance.yahoo.com/q/h?s=CPTC.OB
SEC Filings
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000317477&owner=include
Share Structure (from company website)
Float: Approximately 205,000,000 Shares
Approximate Outstanding: 289,000,000 Shares
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RESEARCH REPORT ON CPTC FROM DAVIS JONES RESEARCH COMPNAY
http://davisjonesresearch.com/reports/CPTC_Davis_Jones_Research.pdf
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