Capstone Turbine Expands Marine Market Product Offering With LNG/Diesel-Fueled Marine Microturbines; Announces Contest to Win Free Microturbine Marine Power
CHATSWORTH, Calif., Oct. 9, 2013 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, is expanding its product offering in the marine market and has appointed six Capstone marine distributors.
In addition, the company has launched a contest that will give away up to 130 kilowatts of marine power to three existing or new ship owners. Winners will be selected from entries submitted which represent the most compelling marine projects that can be powered by clean-and-green marine microturbines. Entries must be submitted at www.winmicroturbinepower.net by March 31, 2014.
Marine Microturbines: Cost-Effective and Clean
Capstone marine microturbines, which run on cleaner and less costly liquid natural gas (LNG) or traditional diesel, already are installed on several vessels including the Argonon. The Argonon is a Type C Tanker in the European inland waterways that has been successfully operating with two C30 LNG Capstone microturbines since 2011. "The Argonon has been efficiently running using Capstone microturbines in excess of 20,000 combined hours," said Gerard Deen, Founder of Deen Shipping. "The environmental benefits of the Capstone microturbines suit our mission to have a clean-and-green profile."
Capstone Microturbines are especially ideal for small- and mid-size commercial ships that travel inland waterways and Emission Controlled Areas (ECAs). This innovative power technology can produce 30-kilowatts to multiple megawatts of high-efficiency onboard electricity.
The LNG or diesel-fueled microturbines can provide all onboard electrical power. In addition, the technology becomes even more efficient when waste heat from the microturbine is captured during operation and re-used for other energy needs on the ship, such as heating and chilling.
Marine Microturbines vs. Reciprocating Marine Engine Generator Sets
Microturbines for marine applications differ from traditional diesel-fueled reciprocating engine generator sets in the following ways:
|Capstone Marine Microturbines vs. Reciprocating Engine Generator Sets|
|Capstone Microturbine||Reciprocating Genset|
|Low noise and vibration||X||-|
|No exhaust after treatment*||X||-|
|No water cooling system||X||-|
|Diesel or LNG configuration||X||X|
|Built in load sharing/synchronization||X||-|
|Capstone Microturbines vs. Reciprocating Engine Generator Sets (Continued)|
|Continuous low load operation||X||-|
|Fast transient response||X||X|
|DC power output option available||X||-|
|No engine oil/filter disposal||X||-|
|Little to no annual maintenance||X||-|
|No additives required||X||-|
|Efficient heat recovery||X||X|
|*EPA Tier 4, IMO Tier III for ECA|
Worldwide Marine Market
For Capstone's U.S. and European marine distributors, the potential global market for microturbines is significant, especially in the small and mid-size commercial ship category:
- Approximately 90 percent of the merchant fleet is comprised of small and mid-size ships that operate within the Capstone power range.
- Today, approximately 63 commercial small and mid-size non-carrier ships are LNG fueled. In the next decade, it is expected 1,000 non-carrier vessels will be LNG fueled.
- The U.S. has more than 25,000 miles of navigable inland waterways, making it one of the most extensive marine transportation systems in the world.
- Roughly 554 million tons of waterborne cargo was transported along U.S. waterways in 2012, a volume equal to about 14% of all intercity freight, and valued at nearly $185 billion.
Capstone marine distributors that will target the marine market include: E-Finity Distributed Generation and RSP Systems along the Eastern U.S. seaboard, Horizon Power Systems in the Gulf Coast, Regatta Solutions along the U.S. West Coast and IBT Group and Pon Power in Europe.
"With over 2.5 billion tons of freight transported annually in the U.S. alone, this is a market that needs Capstone's innovation," said Darren Jamison, Capstone President and CEO. "Installing Capstone microturbines is a win-win for ship owners. The cost savings in reduced fuel and operational costs provide significant business benefits, while the low environmental impact is a vital, must-have element required by international governing organizations."
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 approximately 7,000 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.
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 environmental advantages and reliability of our products, the use of our products in the marine market, the potential for growth of the marine 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 October 9, 2013