Capstone Secures Another Follow-On Order for an Unmanned Gas Compression Station
VAN NUYS, Calif., May 10, 2018 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today another follow-on order for a C1000 Signature Series microturbine to power a gas compression station in the Midwest. Horizon Power System, Capstone’s longtime distributor, secured the order.
“Capstone has a long history of successful operation in all phases of the oil and gas industry around the world,” said Darren Jamison, President and Chief Executive Officer of Capstone. “As the oil and gas market continues to recover, we expect to see more follow-on orders from companies looking to reduce their operating expenses while simultaneously reaching their environmental and emission goals,” added Mr. Jamison.
Recently oil prices have risen to levels not seen since the tailspin in 2014. This steady recovery to levels above $70 a barrel has been fueled by a number of factors including the possible reinstatement of sanctions on Iran, the Organization of the Petroleum Exporting Countries’ (OPEC) efforts to curb global production–which has had the biggest influence on crude values, as well as Venezuela’s oil output issues and the overall growing demand for oil.
Designed for continuous use, the natural gas-fueled C1000S microturbine will operate 24/7 and deliver prime power to critical equipment at the site. The compression station is remote, without access to electric utilities, making it the perfect candidate for onsite power generation with Capstone technology. With industry-leading low maintenance requirements, the microturbines eliminate the requirement for onsite personnel to service the equipment. This reduces the operational expenses of the facility by requiring less frequent visits to the compression station for service.
“This order comes in the form of repeat business by a customer who owns multiple gas compression stations,” said Jim Crouse, Executive Vice President of Sales and Marketing of Capstone. “They were so pleased with the performance of the microturbines at their other station and the support from Horizon Power Systems, that the choice was clear when they needed another onsite power generation solution, further reinforcing our position in the industry.”
With thousands of microturbines deployed in oil and gas operations around the world, Capstone microturbines continue to be the preferred choice of many oil and gas operators because of their reliability, efficiency and low emissions.
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 10, 2018