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For further details see our joint press release.
Composite Technology Corporation has settled the outstanding litigation with W. Brandt Goldsworthy and his affiliated companies.
The settlement grants CTC exclusive, worldwide rights to any Goldsworthy patents related to CTC’s ACCC cable products. The settlement also clears the way for CTC to continue its consulting relationships for its cable products with Dr. Clem Hiel, George Korzeniowski and Dr. Alonzo Rodriguez without any further objection from the Goldsworthy group. This settlement fortifies CTC’s existing intellectual property position, and eliminates all known legal obstacles to its worldwide composite based electrical cable production and marketing plans.
Composite Technology’s CEO, Benton Wilcoxon, stated, “Although CTC has developed and continues to improve its own patent pending Aluminum Conductor Composite Core (ACCC) technologies, the successful resolution of these litigation issues allows management to focus its attention and resources on the commercialization of our products and allows us to finalize strategic relationships with cable manufacturers. We are very pleased to move forward without these distractions and we anticipate positive developments in the near future.”
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