Capstone Continues to Expand Reach in China Market With Three Orders From Oil & Gas Sector
CHATSWORTH, Calif., April 11, 2013 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, continues to expand its reach into the Chinese market with the sale of multiple C30s, C65s and C200s that will be installed at various oil and gas sites. The three orders, valued at more than $1.3 million, are a significant milestone for Capstone's growth in China as they represent the first sales into the oil and gas market.
Top-Well Petroleum Technologies, Capstone's oil and gas distributor in China, received the orders for the units from two Chinese oil and gas producers. The units, which are fueled by well-head gas, will generate reliable, low-emission electricity. The clean-and-green onsite electricity produced by the Capstone C30s, C65s and C200s will power the production equipment.
"With the difficulty and expense of bringing traditional power to the remote sites, the customers chose Capstone microturbines because of the high reliability and long maintenance intervals of our systems," said Darren Jamison, Capstone President and Chief Executive Officer. "Capstone microturbines are designed to efficiently convert well-head gas to electricity and outperform other options."
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST) is the world's leading producer of low-emission microturbine systems, and was the first to market commercially viable microturbine energy products. Capstone Turbine has shipped over 6,500 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone Turbine is a member of the U.S. Environmental Protection Agency's Combined Heat and Power Partnership, which is committed to improving the efficiency of the nation's energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO 9001:2008 and ISO 14001:2004 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the New York Metro Area, Mexico City, Nottingham, Shanghai and Singapore.
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This press release contains "forward-looking statements," as that term is used in the federal securities laws, about growth in the Chinese oil and gas market and the advantages of our products over competing technologies. Forward-looking statements may be identified by words such as "expects," "objective," "intend," "targeted," "plan" and similar phrases. These forward-looking statements are subject to numerous assumptions, risks and uncertainties described in Capstone's filings with the Securities and Exchange Commission that may cause Capstone's actual results to be materially different from any future results expressed or implied in such statements. Capstone cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Capstone undertakes no obligation, and specifically disclaims any obligation, to release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
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Released April 11, 2013