Capstone Continues to Expand U.S. Energy Efficiency Market with a Large Industrial Customer in Upstate New York
CHATSWORTH, Calif., March 13, 2017 (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 Signature Series microturbine to upgrade an industrial customer in upstate New York.
Capstone’s distributor, GEM Energy, secured the order, which is expected to be commissioned in July 2017. Capstone microturbines were selected for their minimal overall maintenance and modular design, which enables 800kW of the system to continue operating while servicing one of the five bays. This ensures business process continuity for the customer while simultaneously reducing operational costs, helping maximize the ROI of the investment.
The C1000S microturbine will be fueled by clean burning natural gas and will provide continuous electrical power year-round as well as high-temperature hot water using Capstone integrated heat recovery modules. The 1MW combined heat and power (CHP) system will operate in parallel with the utility grid and be capable of providing power to a large portion of the critical process loads during utility outages.
“This is a meaningful energy efficiency win for us, and it’s great to see another Signature Series sold with our new roof mounted heat recovery modules,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “By developing our own Capstone integrated heat recovery modules, we are saving the customer money, shortening the installation time, decreasing the overall equipment footprint and adding approximately 20% more Capstone content to the project,” added Mr. Jamison.
According to the U.S. Department of Energy, there is estimated to be more than 240GW of technical potential across all CHP categories within the United States. Today, CHP represents approximately eight percent of U.S. electricity generation capacity and over 12 percent of annual U.S. power generation.
“More industrial customers are turning to Capstone for their CHP needs, not only for the clean, low maintenance technology, but also for the stellar service our distributors provide,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “This customer, in particular, required an extremely short lead time on equipment delivery and project completion, which both Capstone and GEM Energy were able to meet,” added Mr. Crouse.
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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the improvements related to Capstone’s Signature Series product offerings, advantages of our products and technology in CHP applications, and further expansion into the CHP market. 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 March 13, 2017