Composite Technology Corporation (CTC) (BULLETIN BOARD: CPTC) announced today that its subsidiary DeWind Ltd has received an order from S&M CZ s.r.o. to sell a total of 9 DeWind turbines for 11.5 million Euros (approximately $14.8 million). The Turbine Sales Agreement consists of 2 DeWind 2 megawatt D8 turbines and 7 DeWind 1.25 megawatt D6 turbines for installation at three sites in the Czech Republic. The D8 turbines are to be supplied from existing inventory and the D6 turbines are to be assembled. Turbine deliveries are scheduled for 2007.
Michael Porter, President of CTC and CEO of DeWind Ltd., stated "We are back on track back in the 50 hertz market -- Europe was, is and will be one of our key markets. The demand for our turbine technology is definitely reactivated and we believe that moderate growth can be achieved in Middle and Eastern Europe."
S&M CZ s.r.o., a project development company, is located in Jevicko, Czech Republic, and has wind farm projects in Zipotin, Anenska Studanka and Ostry Kamen. Since its formation in March 2003, S&M CZ has been actively working in the Czech Republic renewable energy sector, with its first wind turbine installed in 2004.
About CTC:
Composite Technology Corporation, based in Irvine, California, USA develops, manufactures and sells high performance electrical transmission and renewable energy generation products through its subsidiaries:
* DeWind, Inc., and DeWind Ltd. (formerly EU Energy Wind Ltd) produce, sell, and license the DeWind series of wind energy turbines including the 50Hz D6 rated at 1.25 megawatts (MW) and the 50Hz D8 rated at 2 MW, both noted for their reliability. In 2007, the first new 2 MW D8.2 turbines are planned to be delivered to North American customers from assembly operations at TECO Westinghouse Motor Company in Texas. The D8.2 utilizes the advanced WinDrive hydrodynamic torque converter developed by Voith AG with a synchronous AC generator that is able to connect directly to the grid at high voltage without the use of power conversion electronics. The DeWind D8.2 will be available in both a 60Hz and 50Hz version.
* CTC Cable Corporation produces composite rod for use in its proprietary ACCC aluminum conductor composite core. ACCC conductors virtually eliminate the sag in power lines caused by high current and high line temperatures. ACCC conductors also reduce electricity line losses, and have demonstrated significant savings in capital and operating expenses when substituted for other conductors. ACCC conductors enable grid operators to reduce blackouts and brownouts, providing a 'reserve electrical capacity' by operating at higher temperatures. ACCC conductors are an innovative solution for reconductoring power lines, constructing new lines and crossing large spans. ACCC composite rod is delivered to qualified conductor manufacturers worldwide for local ACCC conductor production and resale into local markets.
For further information visit our websites: www.compositetechcorp.com & www.eunrg.com