Capstone Sees Growth Into Niche Markets With Follow-up Order for California Leading Organic Soil Cultivator of Cannabis
VAN NUYS, Calif., Nov. 20, 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 Mr. Natural Production Inc., a leading organic soil cultivator of cannabis, has placed a follow-on order for one of their California indoor grow operations through Cal Microturbine, Capstone’s California distributor.
The order includes three additional 65 kilowatt (kW) units, absorption chillers and hot water recovery systems that increase available power to the facility by up to 180kWs net, with the exhaust energy providing up to 60 refrigeration tons (RTs) of cooling and 400,000 British Thermal Units per Hour (BTU/HR) of hot water for space cooling, dehumidification and heating. These units are in addition to Mr. Natural’s first purchase which has been powering the facility for over 18 months.
Capstone’s clean and efficient microturbines will be coupled to chillers and hot water heat recovery units to provide power, cooling, and humidity control to the operation. Mr. Natural Production uses a symbiotic, harmonic, and sustainable production process. In addition to their organic soil process, low-energy lighting systems and low water-waste grow practices, the Capstone unit’s high overall efficiency further reduces the operation’s environmental footprint while providing significant operational savings versus purchasing power from the utility.
“Indoor grow operations are becoming an increasing market for Capstone’s clean and green products as the microturbines low emission profile and high total system efficiency are being well received in the forward-thinking grow house community. In addition, we are starting to see our systems used in a wider range of CHP and CCHP applications each day for anything from brewery processing to indoor growth operations, where chillers and heat recovery systems provide extremely high levels of efficiency,” said Darren Jamison, President and Chief Executive Officer of Capstone.
NuTech Alternative Energy, a Sacramento based power system developer that specializes in the needs of cultivators provided design, installation, and integration services to optimize the system’s available output. NuTech and Mr. Natural Products plan on further development and integration to make this site potentially the most efficient and environmentally friendly grow house in the state, while at the same time substantially lowering water and power costs.
“Cal Microturbine provides customers the opportunity to purchase more cost-effective electricity while at the same time limiting their environmental footprint, this allows many manufacturing operations to remain in compliance with California’s environmental requirements while also remaining cost competitive despite California’s high costs,” said Kenda Brown, President of Cal Microturbine.
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,” “believes,” “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 November 20, 2018