Capstone Receives C200 CCHP Order to Power a Chinese Utility Microgrid
VAN NUYS, Calif., Jan. 07, 2019 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq: CPST), the world’s leading clean technology manufacturer of microturbine energy systems, announced today that it has secured an order for a C200 that will be shipped to China as part of a Chinese utility microgrid project.
Secured by EED International, one of Capstone’s distributors for China, the system will be used in conjunction with a hot water absorption chiller in a microgrid optimization project to supply electricity, hot water and chilled water to the facility. The low-pressure natural gas (LPNG) C200 microturbine, configured in a combined cooling heat and power (CCHP) package, will also have the capability to run dual mode, providing electricity and thermal energy in island mode as well as when connected to the local utility grid. The flexibility of the Capstone inverter-based microturbine will allow the customer to maximize efficiency while easily integrating with other generation sources like solar, wind and battery storage which will be part of the project along with the microturbine.
“This order represents an increased demand by utility companies looking for alternative ways to meet growing demand while reducing airborne contaminants,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “We are confident our technology can play a critical role in tomorrow’s clean and green energy environments,” added Mr. Jamison.
China, as the world’s most populous nation, has dramatically increased energy consumption in the last few decades. According to available numbers from the International Energy Agency (IEA), China consumed 579.65 TWh of electricity in 1990, which increased to 5,898.89 TWh in 2016. During the same time, CO2 emissions rose from 2,088.85 Mt to 9,056.80 Mt, a 334% increase.
“Interest in our larger product line continues to grow in Asia,” said Jim Crouse, Executive Vice President of Sales and Marketing of Capstone. “Our distributors throughout the region are seeing increased interest from customers for Capstone products because we are able to meet or exceed current emission requirements,” concluded 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 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.
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Released January 7, 2019