Capstone Microturbine to Power United States Marine Corps Base
CHATSWORTH, Calif., Oct. 21, 2015 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it received an order for a C1000 Power Package to be used for combined heat and power (CHP) at a United States Marine Corps base in Virginia.
E-Finity Distributed Generation, Capstone's distributor for the mid-Atlantic and southeastern United States, secured the order, which is expected to be commissioned in September 2016.
The Naval Facilities Engineering Command (NAVFAC) awarded the design and construction of the CHP plant to a multi-national energy services company (ESCO). The ESCO chose Capstone's clean-and-green microturbine technology to provide a more secure, reliable and energy efficient solution for their client. The electricity generated will be fed into the base's distribution grid and the captured waste heat will be used to provide hot water. All of the energy produced will serve approximately 20 buildings across the base, including the barracks, administration office and dining facilities.
According to the U.S. Energy Information Administration (EIA), the U.S. Department of Defense (DoD) is operating on some of the lowest levels of energy since 1975. As of fiscal 2013, the DoD reduced petroleum consumption by 27 percent from a fiscal 2005 baseline. This reduction in energy usage falls in line with the DoD's Operational Energy Strategy Implementation Plan, which outlines initiatives to improve energy efficiency, reduce the use of fuel in each branch of the military and further the use of alternative fuel sources.
"It's great to see the Federal Government implementing CHP projects to help lower their energy consumption and offset their carbon emissions," said Tom McGeehan, Director of Sales for Commercial Projects at E-Finity Distributed Generation.
"We are proud to be providing clean and efficient energy to the U.S. Department of Defense in response to their Operational Energy Strategy Implementation Plan," said Darren Jamison, Capstone's President and Chief Executive Officer. "With a large global fleet of over 8,500 microturbines and 96 distribution partners with a presence in 73 countries, Capstone microturbines provide the global support infrastructure, system efficiency and product reliability the U.S. Armed Forces require for their operations."
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 8,500 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, United Kingdom, Mexico City, 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 the advantages of our products and use of our products for the U.S. Armed Forces. 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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CONTACT: Capstone Turbine Corporation Investor and investment media inquiries: 818-407-3628 firstname.lastname@example.org INVESTORS: Dian Griesel Int'l Cheryl Schneider/Tom Caden 212-825-3210
Released October 21, 2015