Composite Technology Corporation (CTC) has announced the signature of a Term Sheet Agreement (TSA).
The TSA is to increase the share capital of its German based wind turbine service subsidiary, EU Energy Service and Maintenance GmbH (EU Energy Service). by introducing ENERTRAG AG, an independent German alternative energy company into EU Energy Service as a new shareholder and partner in the service operations. EU Energy Service would then include the existing service business of ENERTRAG Energiedienst GmbH and the name of EU Energy Service will be changed to E Energy Service GmbH (E Energy). In accordance with the terms of the TSA, a final agreement should be completed such that joint operations may begin on 1 October 2006.
