Capstone Announces New Distributor Agreement for Venezuela and Trinidad and Tobago
Capstone Turbine Corporation (www.microturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, today announced the signing of a new Distributor Agreement with General Detectors International, Inc. (www.generaldetectors.com) for oil and gas applications and market segments in Venezuela and Trinidad and Tobago.
Established in 1996, General Detectors International, Inc. (GDI) is an integrated controls and instrumentation specialty company based in Houston, Texas, with offices in Venezuela (General Detectors, C.A.) and Trinidad (General Detectors Trinidad, Ltd.). The company's core business is focused on the petroleum industry, including petrochemicals and refining, as well as onshore and offshore oil and gas production.
"GDI provides engineering services, integration support and field services for all the products that we represent. We are a customer-focused company constantly looking for the best integrated solutions, and we believe that Capstone Turbine Corporation will be an excellent business partner for us," said Mr. Marcos Sierra, General Manager of General Detectors International, Inc.
"We have seen our microturbines deployed successfully in numerous oil and gas applications around the world," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "We believe that this new agreement will offer Capstone the opportunity to leverage GDI's capabilities and reputation throughout these new regions," Crouse added.
"I am pleased with our continued expansion of our distribution network into new territories and market segments," said Darren Jamison, President & Chief Executive Officer of Capstone Turbine Corporation. "This effort continues to be one of the strategic goals of our management team," added Jamison.
About Capstone Turbine
Capstone Turbine Corporation (www.microturbine.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 4,000 Capstone MicroTurbine(R) 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 9001:2000 and ISO 14001:2004 certified company; Capstone Turbine is headquartered in the Los Angeles area with sales and/or service centers in New Jersey, New York, Mexico City, Milan, Nottingham, Shanghai and Tokyo.
"Capstone Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about new sales opportunities for Capstone, in particular in Venezuela and Trinidad and Tobago, and the relationship between Capstone and General Detectors International, Inc. 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.
Source: Capstone Turbine Corporation
Released October 13, 2008