Capstone Announces New Distributor Agreement for Asia Pacific Region
CHATSWORTH, Calif.-- 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 Sobono Energy Private Limited (www.sobono.com.sg) for Combined Heat & Power (CHP) and Resource Recovery applications in Singapore, Malaysia, Philippines, Thailand, Indonesia, Vietnam, Guam and Saipan.
Headquartered in Singapore, Sobono Energy provides green and renewable energy solutions to customers in Asia Pacific region, including system design, site installation and post-commissioning maintenance.
"This agreement offers Capstone the opportunity to leverage Sobono's broad capabilities throughout the Asia Pacific," said Jim Crouse, Capstone Turbine Corporation's Executive Vice President, Sales and Marketing. "Their expertise and knowledge as a green and clean energy solution integrator will be a great addition to complement Capstone's strategic sales growth initiatives," Crouse added.
When reached for comment, Darren Jamison, President and Chief Executive Officer of Capstone Turbine Corporation said: "One of our business strategies has been to add new business partners and strengthen the relationships with our existing ones. The talented and professional management and sales force of Sobono bring to us the capabilities we have been seeking to augment our sales efforts. Sobono's broad geographic and commercial presence enhances the opportunity for improved sales growth for Capstone microturbines."
"Our customers are driven by growing environmental concerns, needs of innovative on-site energy solutions that provide dependable and reliable power supply, as well as reduction in business costs," said Wee Khoon OH, Managing Director of Sobono Energy. "The new generation Capstone MicroTurbine(R) models C200, C600, C800 and C1000 come with attributes of high reliability and efficiency, modular design for easy installation, fuel flexibility, suitability for multi-MW application and adaptability for co-generation and tri-generation. These are indeed all the features that our customers are looking for. We are very pleased to be working with Capstone Turbine Corporation and look forward to a long-term successful relationship."
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 the Asia Pacific Region, certain features of our products and a successful working relationship between Sobono Energy Private Limited and Capstone Turbine Corporation. 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 December 8, 2008