Capstone Expands CHP Presence in the United Kingdom with Order for 30 ICHP Microturbines
CHATSWORTH, Calif., April 12, 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 30 C65 ICHP microturbines for various integrated combined heat and power (CHP) projects across the United Kingdom.
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“Energy efficiency is a big growth market for in the UK and all over Europe,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “We are honored that Pure World Energy has chosen to expand its fleet by leveraging our Capstone product, and our new and improved roof mounted exhaust heat recovery module,” added Mr. Jamison.
Pure World Energy, Capstone’s UK partner, secured the order, which is expected to be commissioned beginning July 2017. Pure World Energy owns and operates Micro Power Stations across the UK for which Capstone’s C65 microturbine is the core technology. Capstone microturbines were selected for their high reliability, low emissions and low cost of ownership.
“As Pure World Energy enters its next stage of growth, this order reflects our ongoing commitment to Capstone technology,” said Simon Wright, Pure World Energy’s Chief Executive Officer. “Energy costs in the UK continue to rise, and facility operators are reviewing their energy strategies to see where savings can be made. Our investment in purchasing an additional 30 C65 ICHP microturbines will enable us to fulfill the immediate demand we have throughout 2017 and expand our existing Capstone fleet,” added Mr. Wright.
The natural gas-fueled 65kW ICHP microturbines will be installed at multiple leisure, healthcare and hospitality facilities providing cogeneration benefits year round, which include reduced operational expenses and lower environmental impact. All 30 units will utilize Capstone’s new C65 heat recovery module (HRM), which features a 6% efficiency improvement over the original HRM technology.
“Capstone’s new and improved HRM technology will provide greater overall system efficiency in the same footprint which translates to improved project economics for customers,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “This new C65 HRM will allow us to capture even more accessory business globally, especially in Europe,” 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 advantages of Capstone product offerings in the ICHP applications and the growth and expansion into the energy efficiency markets in the UK and across Europe. 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.
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CONTACT: Capstone Turbine Corporation Investor and investment media inquiries: 818-407-3628 firstname.lastname@example.org
Released April 12, 2017