Capstone Announces Cal Microturbine as its Exclusive Capstone Distributor for California
VAN NUYS, Calif., May 04, 2018 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today the expansion of Cal Microturbine’s exclusive territory to include all market verticals in the state of California.
Cal Microturbine was founded to solely promote, sell and service Capstone microturbines based on Capstone’s time-tested and well-proven model distributor program. With headquarters in Los Angeles, Cal Microturbine has a wealth of experience with Capstone products and supporting end-users in the oil and gas, combined heat and power (CHP), combined cooling heat and power (CCHP) and renewable biogas applications. Their hard work has delivered rapid growth and has clearly demonstrated the need for clean and green microturbine technology in California’s expanding energy market.
“Cal Microturbine is a trusted and valued distributor of Capstone Turbine,” said Jim Crouse, Executive Vice President of Sales and Marketing of Capstone. “We are proud to see their unwavering commitment to serving and supporting Capstone customers in California,” added Mr. Crouse.
According to the U.S. Energy Information Administration, California has set goals to implement 4,000 megawatts (MWs) of additional CHP capacity and reduce greenhouse gases by 6.7 million metric tons per year, by 2020. Additionally, California is the third largest producer of petroleum among the 50 states and third in oil refining capacity, at nearly 2 million barrels per day.
Cal Microturbine is committed to providing the highest level of customer support possible. This will be further enhanced through their investment in additional personnel and service infrastructure and by working closely with Capstone’s factory support team to ensure immediate, local customer support in all areas of the business.
In addition, Cal Microturbine recently joined together with other significant strategic Capstone U.S. distribution partners; E-Finity, RSP Systems, Horizon Power and Vergent, as initial supporters of the new Capstone Distributor Support System (DSS), which is critical to enhancing worldwide distributor training, sales efficiency, website development, company branding and funding for increased lead generation by increasing the use and frequency of targeted marketing activities.
“Cal Microturbine has demonstrated the key characteristics and has the DNA required to become one of the largest and most successful Capstone distributors in the world,” said Darren Jamison, President and Chief Executive Officer of Capstone. “Cal Microturbine has shown a tremendous willingness to work collaboratively with Capstone personnel and was a key supporter of the new DSS program that is critical to accelerating our revenue growth and the overall future success of implementing our vision,” added Mr. Jamison.
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 DQS-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.
"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 May 4, 2018