Capstone Secures Sizable 1.4 MW Order in the United Kingdom Commercial & Industrial Sector
VAN NUYS, Calif., May 22, 2018 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today a new 1.4 megawatt (MW) order in the United Kingdom commercial and industrial sector. The order consists of one C1000 Signature Series low-pressure microturbine and two traditional C200 low-pressure systems that will be installed and commissioned this summer. Pure World Energy, (PWE), (www.pureworldenergy.com) Capstone’s distributor for the United Kingdom, secured the sizable order which is the first Capstone Signature Series C1000 configuration to be sold in the United Kingdom.
“This order is significant as it is the first of our new C1000 Signature Series units to be sold into the growing U.K. market and will be an excellent showcase installation,” said Darren Jamison, President and Chief Executive Officer of Capstone. “The new Signature Series is performing extremely well in other parts of Europe and worldwide. This marquee installation should help us further penetrate other commercial and industrial customers in this region,” added Mr. Jamison.
The United Kingdom has very stringent air quality standards that will become stricter as London implements a new Ultra Low Emission Zone (ULEZ) program slated to go into effect in April 2019. Most vehicles will need to meet new, tighter exhaust emission standards (ULEZ standards) or pay a daily surcharge to travel within the area of the ULEZ. Although air pollution in London is generally associated with road traffic, a significant amount of air pollution generated in the city comes from boilers, combined heat and power plants (CHP), and standby diesel generators. In the case of CHP, a low NOx plant must be used, and its impact on air quality must be assessed before it’s installed as detailed in the City of London Air Quality Supplemental Planning Document. This could provide a potential competitive advantage to Capstone ultra-low emission products if CHP emission levels continue to tighten.
“Pure World Energy is very pleased to secure this 1.4 MW order for clean and green Capstone microturbines and to have sold the first C1000 Signature Series unit in the region. This latest order marks PWE’s continued fleet expansion leveraging Capstone turbines in the commercial and industrial sectors in the U.K,” stated Sean Fitzpatrick, Chief Executive Officer of Pure World Energy. “PWE has identified dozens of new microturbine opportunities in the U.K. and plans to deploy more of the larger Capstone Signature Series units in the coming months and years,” added Mr. Fitzpatrick.
According to the International Energy Agency (IEA), the United Kingdom has set a long-term carbon emissions reduction goal of 80% by 2050. For example, participants in the CRC Energy Efficiency Scheme will surrender emissions allowances on the basis of fuel used, thereby favoring the use of high-efficiency technologies such as CHP. Capstone microturbines provide the ideal solution towards this goal, allowing businesses to take advantage of this policy while simultaneously reducing operating expenses and helping the environment.
As the decentralized energy revolution continues, more businesses worldwide are choosing to break free from the local utility and take control and accountability of their future energy costs and carbon footprint. With thousands of microturbines deployed in CHP and CCHP applications around the world, Capstone continues to be at the forefront of distributed low emission on-site generation technology.
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.
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Released May 22, 2018