Photo Release -- Velozzi to Integrate Capstone C65 and C30 Microturbines Into Electric Supercar and Sports Crossover Vehicle
CHATSWORTH, Calif., Feb. 4, 2010 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST) today announced that Velozzi, a Los Angeles-based car designer and manufacturer, will become the first auto company to integrate Capstone's ultra-clean C65 and C30 microturbines into a electric supercar and a crossover vehicle.
Photos accompanying this release are available at
Velozzi vehicles are the first production cars to be constructed with carbon fiber Nano tubes. Carbon Nano tubes increase the mechanical properties of vehicle components by 40 percent, which improves the performance of each part while reducing the vehicle's overall weight. Most materials used in the Velozzi cars are reusable, which decreases the Velozzi vehicles' overall carbon footprint.
The company has teamed with several world-class OEM suppliers, including Bayer, Bosch, PPG, Nanoledge, Camoplast, Pirelli, Visteon, Worwag, Bradford Industries, Henkel, Ashland, Saminco and Syvex.
"The first electric supercar with a 65-kilowatt microturbine will be available in late 2010. The SOLO crossover, featuring a 30-kilowatt Capstone microturbine, will be available in 2011," stated Velozzi CEO, Roberto Velozzi. "The selling price for both vehicles is to be determined," added Velozzi.
The Velozzi Supercar will be powered by a 770-horsepower AC-induction electric motor charged by an on-board Capstone C65 microturbine. The supercar is designed to accelerate from 0-60mph in just three seconds and reach a top speed of over 200 mph, according to Velozzi.
The SOLO will be a lightweight electric crossover with an on-board 30-kilowatt Capstone microturbine that will charge the crossover's batteries and super capacitors while in operation or at rest.
"Velozzi has included microturbines in their car designs since the company's inception," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "It's an extremely progressive company committed to producing environmentally friendly, powerful and practical electric vehicles. With a Capstone microturbine, they'll ensure drivers have the range and reliability to drive a Velozzi anywhere."
Current plug-in electric vehicle driving ranges are extremely short between battery charges. A microturbine dramatically extends the driving range of the vehicle. According to Velozzi their cars will operate on 100 percent battery power in zero-emissions mode for a range of up to 200 miles. Then, when the batteries reach a pre-determined state of discharge, the Capstone microturbine quietly and efficiently recharges the batteries on the fly to extend the driving range up to 1,000 miles.
The diesel-fueled Capstone microturbine produces ultra-low emissions and requires less maintenance than the traditional combustion engine found in today's hybrid-electric vehicles. Capstone microturbines can run on diesel, bio-diesel, ethanol, methanol, jet fuel, propane and compressed natural gas. Capstone was recently awarded a Department of Energy grant to develop a flex fuel turbine that will operate on agricultural syngas and hydrogen.
"Capstone's fuel system gives the driver the flexibility to use a multitude of energy sources available today and in the future," Velozzi said. "You don't have to wait years for plug-in infrastructure or a new fuel infrastructure to be developed to charge or power Velozzi vehicles because our vehicles can use many fuels available today," added Velozzi.
"Capstone's strategy is to provide microturbine solutions today based on our current industrial product that automotive, truck and bus manufacturers can immediately integrate into their electric vehicles while simultaneously collaborating with key automotive component manufacturers to build a high volume, lower cost automotive version of our products," said Capstone President and CEO, Darren Jamison.
"When I met with Roberto at the Los Angeles Auto Show and learned more about his company, it was clear Velozzi would be an excellent manufacturer to integrate our C65 and C30 into its automobiles. The company truly cares about developing top-of-the-line electric cars that are environmentally friendly, powerful and attractive that can benefit from utilizing Capstone's microturbine technology as an onboard range extender," added Jamison.
To learn more about the electric Velozzi Supercar and SOLO crossover that will feature Capstone C65 and C30 microturbines, visit www.velozzi.com or contact investor and investment media relations at email@example.com
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 5,000 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 is headquartered in the Los Angeles area with sales and/or service centers in the New York metro area, Mexico City, Nottingham, Shanghai, Singapore and Tokyo.
The Capstone Turbine Corporation logo is available at https://www.globenewswire.com/newsroom/prs/?pkgid=6212
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the use of our products in hybrid-electric and crossover vehicles, the timing of production of the vehicles and the low emissions, high efficiency and overall reliability of our technology. 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 Turbine Corporation" 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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CONTACT: Capstone Turbine Corporation Investor and investment media inquiries: 818-407-3628 firstname.lastname@example.org
Released February 4, 2010