Composite Technology Corporation (CTC) (OTCBB: CPTC) recently announced that it has new orders for 460 kilometers (286 miles) of ACCC™ conductor to be used on the Chinese electrical grid.
The order was issued through the company’s subsidiary, CTC Cable Corporation, by Far East Composite Technology Company, a subsidiary of Jiangsu New Far East Cable Corporation. The order is valued at approximately $3.1 million. The ACCC™ conductor is made up of multiple core sizes with associated hardware for several installations including sites in Jiang Xi Province and Nanjing City.
A three year distribution agreement was made between CTC Cable and Far East, and this order meets the quarterly minimums that were laid out in the agreement. The use of the ACCC™ conductor has been growing throughout China, and with the help of recent severe weather, much damage has occurred that may have caused serious damage to the electrical transmission infrastructure in China requiring immediate replacement of transmission lines.
“Recent events in China provide a tremendous opportunity to replace damaged transmission lines with high efficiency ACCC™ conductor,” stated Mary Sepe, COO of CTC and President of CTC Cable. “Far East has done an excellent job representing the benefits of ACCC™ conductor to the regional utilities and continues to meet the established quarterly goals,” she added.
CTC Cable Corporation produces the composite rod for use in its patented ACCC™ Aluminum Conductor Composite Core) conductors, which are “high efficiency conductors” for use in electrical transmission grid systems. The ACCC™ conductors show less electricity line losses when compared to conventional conductors, and when substituted for conventional conductors on existing systems, the ACCC™ conductor enables power generators to reduce the amount of power they must generate while still delivering the same amount of power to the customers.
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