Capstone Receives Order From DesignLine for Denver RTD Electric Bus Fleet
CHATSWORTH, Calif., April 8, 2013 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean-technology manufacturer of microturbine energy systems, today announced that it received an order for thirty-four liquid fuel C30s for use in DesignLine's Eco Saver IV range extended electric buses. The buses are expected to be delivered to Denver Regional Transportation District (RTD) later this year.
The new Denver RTD buses will operate on the 16th Street Mall in downtown Denver. The new buses will replace 36 TransTeq mall buses that were bought in 1999 and are now at the end of their useful life, according to RTD officials.
Two Capstone-equipped DesignLine buses have been in service for over a year on the mall, and they have better maintenance records than the TransTeq vehicles, according to RTD officials.
The DesignLine range extended electric buses are 45 feet long and have three wide passenger doors to speed loading and unloading. They are low-floor buses, meaning that there are no steps from the entrances into the passenger compartment, which improves access for people with handicaps.
The DesignLine buses have an all-electric drivetrain using state-of-the-art lithium ion batteries for energy storage. The batteries are used to power the electric motors, which drive the bus, and all accessories such as air conditioning, power steering and lighting.
The lithium ion batteries recover kinetic energy from the bus brakes via a regenerative braking system to extend the range. The batteries are recharged by the Capstone 30kW microturbine, running on clean diesel or biodiesel. The microturbine recharges the batteries on the fly and shuts down when the batteries reach the desired state of charge. The Capstone microturbine produces extremely low emissions and noise compared to a traditional engine, with no requirements for complex exhaust aftertreatment or additional additives.
Capstone and DesignLine recently executed a new five-year OEM agreement, marking a renewed commitment to the long-standing relationship. "We have seen a measurable improvement in DesignLine operations since Joe Smith was named President and CEO in 2012," said Darren Jamison, Capstone President and Chief Executive Officer.
"Joe is a wily bus industry veteran and the former President of the New York MTA who first interacted with DesignLine while he was still at MTA. Joe became interested in the company's technology and now is a big proponent of Capstone. In his position as the President and CEO of DesignLine we can work together to promote DesignLine buses equipped with the Capstone product to the bus market," added Jamison.
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 advantages over competing technologies, increased opportunities within the electric bus market and an improved relationship with DesignLine. 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.
"Capstone" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
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Released April 8, 2013