Endeavour Capital and Greenbelt Capital Partners have announced the close of a strategic investment in cable outfit CTC Global Corporation.
Based in Irvine, California, CTC specializes in engineering and manufacturing advanced conductor cores for high-voltage transmission wires and its ACCC Conductors have been installed in over 1250 projects across 60 countries by more than 250 utilities.
CTC’s current chief executive J.D. Sitton, will continue to lead the business through its next phase of growth.
“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,” he said.
“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.”
Endeavour managing director Derek Eve 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.”
Partner at Greenbelt Chris Murphy added: “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.”