EU Energy plc, a UK-based alternative energy company, has announced that it has concluded a memorandum of understanding (MOU) with Composite Technology Corporation (CTC), developer of composite core cables for electric transmission and distribution lines. The MOU was signed at the same time as an agreement between subsidiaries of EU Energy and CTC that was previously announced.
Under the terms of the MOU the parties and their subsidiaries are discussing the signing of additional agreements that would provide the EU Energy group with the following: the ability to sell Aluminium Conductor Composite Core (ACCC) cable to EU Energy customers; the development of novel composite wind towers and composite towers and poles; securing access to credit financing of customer systems; joint carbon fibre purchasing; and composite blade technology. Work on these agreements will continue alongside the due diligence being conducted by CTC’s subsidiary CTC Wind Systems into EU Energy’s North American business and prospects. EU Energy anticipates the companies will join their international efforts to enhance the sales of each on the international markets.