EU Energy Announces Changes and Sales

Irvine, California [] EU Energy plc, a UK-based alternative energy company, will convert from a public limited company to a private limited company and change its name from EU Energy plc to EU Energy Ltd. The motion was passed at a meeting of its shareholders concerning the proposed sale of EU Energy to Composite Technology Corporation (CTC), a U.S.-based public company. The sale of EU Energy to Composite Technology Corporation was announced by EU Energy at the WindPower 2006 conference held earlier this month in Pittsburgh, where it was also announced that the EU Energy group had entered into a agreement with Canadian Green Power Investment & Management Services Inc. for 60 turbines, representing a sale of approximately $120 million, with delivery commencing in 2008.
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