Capstone Secures 800 kW Flare Gas Order for Southern California Customer
VAN NUYS, Calif., Feb. 13, 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 received an order for a C800 Signature Series microturbine from its California distributor.
The order, secured by Cal Microturbine, Capstone’s exclusive distributor for California, will be commissioned during the latter part of 2019. The four-bay C800S will provide 800 kW of reliable power that will operate on available sour gas as fuel. Capstone’s microturbines were selected due to their low maintenance, low emissions and overall emission reducing capabilities.
“The C800S, as well as the rest of our product line, is designed to run on a range of fuels making our systems the ideal solution for customers that are looking for ultra-low emission and highly reliable on-site power generation,” said Darren Jamison, President and Chief Executive Officer of Capstone Turbine Corporation. “When compared to competing solutions or just flaring the on-site gas, our systems produce a fraction of the total site emissions,” added Mr. Jamison.
California’s Self-Generation Incentive Program (SGIP) provides incentives for the installation of self-generating technologies that helps customers replace all, or a portion of, traditional grid provided electricity. There is a total budget of approximately $124 million under this program for power generation technologies. Capstone’s end-use customers may benefit from these incentives as they may help maximize the return on their investment.
“Capstone’s product line has seen an increase in demand following tightening emission requirements across the state of California,” said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. “Our technology not only qualifies for the state’s SGIP program, but it also qualifies for an additional 20% of the rebate amount under the program, as we are a California supplier,” added 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.
“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 February 13, 2019