Capstone Continues to Expand CHP Business with 1MW Order for a Connecticut University
VAN NUYS, Calif., Jan. 17, 2018 (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 continues to expand its combined heat and power (CHP) business with another project, this time for a C1000 Signature Series one megawatt (MW) unit to help power a university in Connecticut.
RSP Systems, Capstone’s distributor for Connecticut and New York, secured the order. The university is still using 50-year-old inefficient heavy fuel oil-burning boilers to generate steam on campus, which translates to high-energy costs and emissions.
“The expansion of our CHP business is the direct result of our efforts to diversify our customer base while increasing our revenue from the energy efficiency space by leveraging our new Signature Series product,” said Darren Jamison, President and Chief Executive Officer of Capstone. “Microturbines are well suited for CHP and CCHP applications because they benefit round-the-clock operations like universities to lower their operational costs while meeting the world’s most stringent emissions standards,” added Mr. Jamison.
The natural gas-fueled microturbine will be used to provide baseload electricity to parts of the campus reducing dependence on the local utility, while the thermal energy will be used to generate steam. When deployed in a CHP configuration, total system efficiency can exceed 80%, lowering operating costs while significantly decreasing the university’s impact on the environment.
The natural gas CHP plant is one part of a larger upgrade project that calls for other energy conservation measures ranging from lighting upgrades, two rooftop solar arrays, HVAC improvements and integrated campus-wide digital controls to monitor and harmonize all of the changes. In total, the entire project will reduce the total energy consumption at the university by over 24,000 million British thermal units (MBTU) per year, or a reduction of 16%. Additionally, the university will reduce water consumption by 7%, and total energy costs will decrease dramatically.
“Capstone microturbines are the perfect fit and easily integrate with energy efficiency projects utilizing multiple sources of power, such as microgrids,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone. “We are thrilled to see further success in this market segment as more end users upgrade their older power plants to improve efficiency and reduce their carbon footprint,” concluded 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 over 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 expansion of our CHP business. 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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Released January 17, 2018