IRVINE, Calif., Dec. 16, 2002 — Composite Technology Corp. announced it has completed a cooperative initiative with Kansas Wind Power, LLC (KWP) to form a joint venture to utilize CTC’s products for construction, generation and delivery of renewable power.
Power Purchase Agreements to support a 100 MW installation are pending or in final draft with several carefully selected, socially responsible municipalities, utilities & electric cooperatives, as well as communications centers and teaching facilities in Kansas.
KWP currently has important wind sites throughout Kansas under license as they develop end-user agreements which will be used in financing this and future projects. Estimates place the completed project value in excess of $150 million.
The initial wind farm location recently was granted Phase 1 permitting for a 102 MW installation. This site could ultimately be expanded to 300 MW. KWP will supply up to 68 wind turbines rated at 1.5 MW each. CTC is to complete an engineering and system integration study in cooperation with KWP and the wind generator suppliers. CTC is then to provide its proprietary wind turbine support and erection systems.
CTC will provide up to 175 circuit miles of its award winning, proprietary ACCC (aluminum conductor composite core) transmission lines and support structures, as well as structural members for substations and switchyards.
“Last month, when our ACCC cable technology was named ‘Most Promising Pre- Commercial Technology Development of the Year’ by Platts/BusinessWeek, CTC stated that we had been approached by numerous groups regarding partnering. We are pleased and excited to announce our first partnership is with Kansas Wind Power for development of major renewable energy projects in Kansas. CTC’s new, proprietary technology for high strength, light weight wind turbine composite support towers and self-erecting systems provides the lowest cost installation we have seen in the industry,” said Benton Wilcoxon, CEO of Composite Technology Corporation.
“We believe our improved capacity power cable, which also has reduced line losses and lower EMF, will set the power product standards for the electrical industry as we continue into the 21st century.”
Troy Helming, CEO and Founder of KWP, stated that “After September 11th, I announced that I would spend the rest of my life working to reduce this country’s dependence on foreign oil. This venture combines KWP’s renewable energy generation management and partners, CTC’s unique composite-based technologies, and Kansas’ environmental-conscious governmental groups and corporations, to take a major step forward as we move to farm the winds of a state that has been called ‘the Saudi Arabia of wind power’. “
KWP is a privately funded Lawrence, KS-based company with a mission to be the leading developer of wind energy in Kansas. KWP has a joint venture with Padoma Windpower to develop 500 Megawatts of wind energy in the Midwest by 2006. KWP (with its partners) will develop its own transmission line assets using CTC’s ACCC conductor and composite support structures. Through its subsidiary, KWP Transmission, renewable energy will be supplied to off-takers all over the Midwest. KWP is developing cutting-edge technology for wind farm load-balancing/energy storage solutions, and intends to be one of the nation’s largest suppliers of clean hydrogen for fuel cells. Also see: www.kansaswindpower.com
CTC is an Irvine, CA-based company serving domestic and international electric utilities with advanced conductor (ACCC) for transmission and distribution lines. This conductor will carry up to twice the power of comparable size conventional cables. CTC is marketing ACCC cable directly to domestic utilities and plans to begin manufacturing its composite core in 2003 in Irvine, CA.
In international markets, CTC is establishing joint ventures with local cable manufacturers with an initial focus on the large and growing markets of China, Mexico and Brazil. ACCC cables have been specifically designed to allow utility companies to easily replace existing transmission lines without modification to the towers, thereby avoiding the deployment of new towers and rights-of-way that are costly, time consuming and may impact the environment.
CTC is now introducing newly designed high strength, light weight composite products for transmission towers and wind generator supports. Also see: www.compositetechcorp.com .