Composite Technology Corporation (CTC) a developer of high-temperature, low sag (HTLS) conductors for electric transmission and distribution lines,  has announced that it has concluded a Letter of Intent with certain binding agreements to acquire the entire share capital of EU Energy plc (EU Energy), a UK corporation, from its shareholders in exchange for common stock of CTC. EU Energy plc owns EU Energy Inc., a Nevada corporation, which entered into a Memorandum of Understanding with CTC on December 22, 2005. A more detailed description of the transaction will be included in a current report on form 8K to be filed shortly.