Capstone Signature Series Product to Power Progressive Italian Food Manufacturer Furlotti & C. with State of the Art 80% Efficient Distributed Generation Solution
VAN NUYS, Calif., March 14, 2018 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today an order for a natural gas-fueled C600 Signature Series microturbine to provide combined heat and power (CHP) to Italian food manufacturer Furlotti & C. Srl (Furlotti). IBT Group (IBT), Capstone’s distributor for Italy, secured the order, which is expected to be commissioned in November 2018.
Furlotti was founded in 1963 by Giacomo Furlotti and Camillo Utini. In the beginning, it was a small factory in the center of Medesano, specializing in the manufacturing of pancetta and coppa, two Italian specialties. Today, Furlotti is a modern and progressive international food manufacturer. For more than 50 years, Furlotti has been producing, through traditional Italian manufacturing methods, a unique selection of deli products such as pancetta, coppa di parma, pork loin, roasted ham with herbs and roasted porchetta. Furlotti is also a leading manufacturer of diced food products.
“Capstone is pleased to be working with such a prestigious and progressive company like Furlotti, as we continue to penetrate the large food industry in Italy,” said Darren Jamison, President and Chief Executive Officer of Capstone. “This is the sixth Signature Series product sold by IBT into the Italian food industry, and it is a great application of our technology from both an economic and environmental perspective,” added Mr. Jamison.
Furlotti was in need of a solution that would help expand the capacity of their food processing plant. Rather than import more power from the local utility at excessively high rates, they considered installing their own power generation solution. Enter the Capstone microturbine, a highly efficient, clean and reliable solution. The microturbine provides the extra capacity needed for the expansion, while simultaneously reducing Furlotti’s operating expense and reducing their environmental impact.
“Furlotti’s mission is based on the preservation of the environment and the soil fertility, favored by the development of food excellence in the respect of traditions guarded for centuries,” said Ilario Vigani, IBT’s Chief Executive Officer. “In Capstone’s technology, they have found a great partner, both in respect of cutting carbon dioxide emissions as well as reducing energy costs, thus improving the overall competitiveness of the company,” added Mr. Vigani.
IBT has worked with dozens of Italian food manufacturers and processors to date and has shown the industry the innovative Capstone microturbine solution. The thermal energy from the exhaust of the microturbine is utilized alongside the electrical output to provide steam via a steam boiler for the manufacturing process. This combined heat and power application boosts the overall efficiency of the microturbine to over 80%, making it one of the most economical and environmentally friendly solutions in the industry. The installation will also feature Capstone’s new PowerSync line of controllers, enabling a greater degree of control and integration with the facility. The unit operates 24/7/365 in grid connect mode, meaning it works in conjunction with the local utility to deliver a complete energy solution to the building.
“IBT has been a strong partner for Capstone in Italy,” said Jim Crouse, Executive Vice President of Sales and Marketing of Capstone. “Given the aging infrastructure, large amount of energy consumption and relatively high electricity prices, more businesses in Italy are turning towards more efficient, sustainable and reliable solutions to power their business and save them money,” 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 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. 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 14, 2018