California-based Composite Technology Corporation (CTC) (OTC.BB:CPTC) announced that its CTC Cable Corporation subsidiary has formed a new operation in China.
The new subsidiary will be the first direct CTC presence in China.
CTC Cable Asia Ltd. will be located in Beijing, and 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.
CTC Cable said it has invoked these strategies to more aggressively control its patented technology and promote its brand name in one of the world’s largest markets. The company’s ACCC® conductor products already have been in use on the Chinese power grid for nearly five years.
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.
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.
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.
Composite Technology Corporation’s patented ACCC® conductor is used for both upgrading existing power lines as well as building high capacity corridors for a modern power grid.
Last year CTC sold its wind turbine subsidiary DeWind Inc. to Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME) of Korea.
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