Fortune 500 Manufacturer Selects Capstone Signature Series Microturbines for Large 5MW CHP Project
CHATSWORTH, Calif., April 05, 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 secured an initial order for five C1000S Signature Series microturbines to enhance the overall energy efficiency of a large manufacturing facility in Tennessee.
The customer, a U.S. Fortune 500 manufacturing company, will adopt the ultra-clean energy technology as part of their overall corporate sustainability initiative. E-Finity Distributed Generation, Capstone’s distributor for the Mid-Atlantic and Southeastern U.S., secured the order, which is expected to be commissioned by November 2017.
“Our recently launched C1000S Signature Series product is targeted directly at CHP, and this order is significant as it furthers our strategic efforts to better diversify our market verticals, as energy efficiency is a big growth market for us both in the U.S. and globally,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “We have hit a lot of singles and doubles in the CHP market with our new Signatures Series product, but a 5MW order from a world class manufacturing company is a home run to straightaway centerfield,” added Mr. Jamison.
The five natural gas-fueled C1000 Signature Series microturbines will be installed in a combined heat and power (CHP) application and operate in dual mode, with the ability to be expanded to six units in the future. Clean waste heat from the microturbine exhaust will be directly used in an industrial drying process. Capstone microturbines were selected for their high reliability, low emissions, and total system efficiency.
“We are extremely excited to see greater recognition of the benefits that CHP offers customers and look forward to a continued increase in market growth using an abundance of affordable clean-burning natural gas,” said Jim Bondi, E-Finity’s Executive Vice President.
“We are seeing the U.S. CHP market really start to solidify with more renewed spending in both new constructions and building retrofits,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “Energy efficiency customers are realizing the benefits of low-emission CHP and turning to technologies like ours to reduce their operational costs and become more sustainable and competitive in a global economy,” added Mr. Crouse.
According to the U.S. Energy Information Administration (EIA), the decline in natural gas prices has led to a steady increase in the use of natural gas for power generation in the Mid-Atlantic region.
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 advantages of our Signature Series product offerings, advantages of our products in CHP applications, diversification of our market verticals, and growth in the energy efficiency 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.
"Capstone" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
CONTACT: Capstone Turbine Corporation Investor and investment media inquiries: 818-407-3628 firstname.lastname@example.org
Released April 5, 2017