Leading Midstream Company Awards Capstone Third Follow-on Order for C600S Microturbine to Power Expanding Pipeline Project
VAN NUYS, Calif., Jan. 10, 2019 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq: CPST), the world’s leading clean technology manufacturer of microturbine energy systems, today announced it has received a third follow-on order for an additional C600 Signature Series microturbine that will be used to power an expanding midstream company’s natural gas operations in the Mid-Atlantic area of the United States.
The new order secured by E-Finity Distributed Generation, Capstone’s exclusive distributor for the Mid-Atlantic and the Southeast United States, is part of a growing presence of the Capstone product line in the region. “Ideal for natural gas producers looking for scalable solutions, the C600S will ship in a five-bay enclosure anticipating and allowing for ease of increased power output to 800kW or 1000kW in the future without the need for more onsite space or lengthy construction schedules,” said Jeff Beiter, Managing Partner at E-Finity.
“Natural gas compression stations are a critical part of the natural gas production process and a natural fit for microturbine technology,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “As natural gas travels down thousands of miles of pipeline, microturbines offer the ideal solution to provide highly reliable power onsite using the molecules already moving through the pipelines,” added Mr. Jamison.
Producing nearly 32 million cubic feet a day of natural gas in 2018, the Appalachian Basin in Northeast is the leading geographical area for natural gas in the United States. New drilling techniques and improved technology have increased the exploration in the area, adding roughly 50 rigs since 2016 according to latest drilling reports provided by the U.S. Energy Information Administration.
“As these producers seek to improve their efficiency and increase profitability generated from lower operating costs, Capstone’s clean and green distributed generation systems continue to be selected as the new technology solution of choice,” said Jim Crouse, Executive Vice President of Sales and Marketing of Capstone Turbine.
“Seeing ever increasing customer demand and market opportunity for Capstone’s cutting edge product line, E-Finity continues to expand its presence in the area by opening a new 4,500 square foot facility and adding new highly qualified Capstone factory certified field service technicians. The new Clarksburg facility will further ensure support of nearby equipment in a fraction of the time,” concluded Mr. Beiter.
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 January 10, 2019