in News Departments > FYI
print the content item

Composite Technology Corp. (CTC) has sold shares of its common stock to Credit Suisse Securities Ltd. Prior to the transaction, Credit Suisse owned 4% of the outstanding shares of CTC. The sale resulted in net proceeds to CTC of $10 million, and an option until June 30 to invest an additional $40 million.

Under the terms of the financing, CTC sold 13.3 million shares of common stock for $10 million. Under the option, Credit Suisse may acquire up to an additional 45.5 million shares for $40 million.

"We are pleased that Credit Suisse has increased its equity stake in CTC," says Benton Wilcoxon, CEO of CTC. "This permits CTC to continue its commitment to its high-value energy-efficient ACCC conductor products for transmission lines and its innovative renewable energy DeWind turbine products. We believe that this growth capital will assist CTC in expanding our conductor business and supporting the sales of its D8.2 turbine."

SOURCE: Composite Technology Corp.


Trachte Inc._id1770
Latest Top Stories

Alberta Breaks Wind Power Record, Then Does It Again

Last week, the Alberta Electric System Operator recorded new wind production peaks in the Canadian province - highlighting how well the grid integrated the renewable energy.


Federal Appeals Court Finds Obama's Wind Farm Decision Unconstitutional

A federal appeals court ruled that the U.S. government violated the constitutional rights of Chinese-owned Ralls Corp. when ordering the divestment of four Oregon wind farms.


Renewables Make Up Over 50% Of New U.S. Power In First Half Of 2014

According to a recent government report, renewable energy sources, such as wind and solar, continue to dominate new electric generating capacity.


Suzlon Facility Lends Key Assist In Developing 'The Wind Technicians Of Tomorrow'

The turbine manufacturer’s Elgin, Ill.-based training facility is the culmination of a program that puts a new twist on a proven method of instruction.


Having Their Say: CanWEA Clarifies True Source Of Canadian Wind Success

The Canadian Wind Energy Association (CanWEA) takes issue with a recent report summary regarding various renewable energy policies in North America.

Navigant_id1983
Canwea_id1984
Renewable NRG_id1934