"Using Zoltek carbon fibers, Vestas, our biggest customer, took an early lead in the design and build of the world's largest and most efficient wind turbines. Over the past two years, there has been a great deal of progress in China, India and other places as high-tech companies in those countries have moved in the same direction of larger and more efficient wind turbines. Wind energy is continuing to go global and entering a new phase of rapid growth. We believe that Zoltek's Panex ® carbon fibers are a key enabling technology for the cutting-edge segment of the market," Rumy said.
While Zoltek's sales are benefiting from new applications and existing markets are growing, our highest and most immediate potential is in the wind power generating application. We produce the significant majority of the high-performance commercial carbon fibers used in the superlong blades that power the most advanced wind turbines. A new generation of carbon fiber-enabled wind turbines is replacing the older generation technology that relied on shorter blades reinforced with glass fibers. For all these reasons, we are convinced that Zoltek is on the threshold of a new era of accelerated growth.
Zoltek will host a conference call to review fourth quarter and fiscal year-end 2010 results and answer questions on Tuesday, November 30, 2010, at 10:00 am CT. The conference dial-in number is (888) 299-7208. The confirmation code is 3544027. Individuals who wish to participate should dial in 5 to 10 minutes prior to the scheduled start time. This conference call will also be webcast on Zoltek's website ― www.zoltek.com ― under "Investor Relations – Events & Presentations." The webcast replay will be available on the website several hours after the call.
This press release contains certain statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "expect," "believe," "goal," "plan," "intend," "estimate," and similar expressions and variations thereof are intended to specifically identify forward-looking statements. Those statements include statements regarding the intent, belief or current expectations of us, our directors and officers with respect to, among other things: (1) our financial prospects; (2) our growth strategy and operating strategy, including our focus on facilitating acceleration of the introduction and development of mass market applications for carbon fibers; and (3) our current and expected future revenue.