IRVINE, Calif.--Endeavour Capital (“Endeavour”) and Greenbelt Capital Partners (“Greenbelt”) (collectively, the “Investors”) are pleased to announce the close of a strategic investment in CTC Global Corporation (“CTC” or the “Company”). Based in Irvine, CA, CTC specializes in engineering and manufacturing advanced conductor cores for high-voltage transmission cables. The Company’s cutting-edge ACCC® Conductors have been successfully installed in over 1,250 projects across 60 countries by more than 250 utilities. The Company’s CEO, J.D. Sitton, will continue to lead the business through its next phase of growth.
Since its founding in 2011, CTC has become a global transmission products business, focusing on the engineering, design and manufacture of advanced conductors, with a flagship manufacturing facility based in California. Its signature products, ACCC® Conductor and the ACCC InfoCore® System, are at the forefront of addressing the critical need to modernize aging utility grid infrastructure and reduce greenhouse gas emissions globally. The Company’s products significantly increase electrical capacity, improve efficiency, and decrease thermal sag compared to traditional transmission conductors. The ACCC® Conductor has been independently certified by SCS Global Services for its ability to reduce CO₂ emissions; replacing 10 miles of traditional transmission cable with an ACCC® Conductor is estimated to reduce CO₂ emissions by ~5,400 MTs in the 1st year, which is the equivalent to taking ~800 cars off the road.
J.D. Sitton, CEO of CTC, said, “Partnering with Endeavour and Greenbelt will enable CTC’s team to do more of what it loves to do – helping utilities around the world improve the efficiency, capacity, reliability, and resiliency of their increasingly strained electric power grids. This partnership will allow CTC to accelerate the adoption of advanced conductors globally and to introduce critical new technologies for a more sustainable energy future.”
Derek Eve, Managing Director at Endeavour, said, “We believe CTC’s track record, product performance characteristics, installed base, and trusted standards acceptance, with over 45 U.S. utilities, position the Company well to support the growth of its utility partners. We are thrilled to partner with CTC and Greenbelt on this journey.”
The capacity buildout and hardening of transmission systems are critical steps in the U.S. and global path to energy resiliency. Increased grid capacity requirements, rising energy consumption, and the integration of renewable power generation all provide strong tailwinds for advanced conductor adoption. Bloomberg New Energy Finance (“BNEF”) forecasts over $21 trillion will be invested into the global energy grid between 2020 and 2050. CTC is well situated to accelerate growth by facilitating the increase in transmission capacity globally through (i) reducing the amount of new transmission capacity required to bring renewable generation online and (ii) facilitating capacity expansion of in-ground infrastructure through reconductoring.
Chris Murphy, Partner at Greenbelt, said, “CTC’s advanced conductor technology is well positioned to help mitigate U.S. transmission congestion and interconnect queues by enabling utilities to increase the transmission capacity across their existing assets. We believe the Company’s technology will be critical in helping utilities and transmission operators bypass these interconnect bottlenecks and increase the amount of renewable generation powering the U.S. electric grid.”