Capstone Distributor RSP Systems Executes a New 1.6 MW Long-Term Service Contract Bringing its Total FPP Attachment Rate to 90% or 24.6 MW in Their Territory
VAN NUYS, CA / ACCESSWIRE / September 6, 2019 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world’s leading clean technology manufacturer of microturbine energy systems, announced today that RSP Systems, Capstone’s exclusive distributor for Connecticut, New York (The Bronx, Brooklyn, Long Island, Manhattan, Queens, Staten Island and Westchester County), signed a Factory Protection Plan (FPP) long-term service contract covering 1.6 megawatts (MWs) of Capstone Microturbines at a hospital in Brooklyn, New York. In signing this FPP, RSP Systems has now eclipsed an FPP attachment rate of 90% on approximately 24.6 MW Capstone Microturbines installed in their exclusive distribution territory.
The Capstone equipment installed at this site features one Dual-Mode Signature Series C1000, one Dual-Mode Signature Series C600, eight of Capstone’s Integrated Heat Recovery Modules (HRMs) and two of Capstone’s new PowerSync Master Controllers. The Capstone equipment is used for 24x7 electrical and thermal generation and is also capable of providing back-up power to critical loads in the event of a grid outage from possible hurricanes or utility blackouts.
“Energy resiliency is a key value proposition that Capstone offers our customers,” stated Darren Jamison, Capstone’s President and Chief Executive Officer. “This installation, like many of the recent marquee installations in the greater New York area coming after the devastating impact of Super Storm Sandy, highlights increased awareness by our customers on the long-term value and peace of mind that comes with installing an integrated Capstone equipment suite,” concluded Mr. Jamison.
Average monthly expected thermal recovery from the integrated HRMs is approximately 36,000 therms, which is used to feed the site’s reheat loop, domestic hot water, and steam condensate loop. This installation of Capstone Microturbines is also enrolled in the Brooklyn Queens Demand Management Program with Con-Edison to reduce the load on the utility grid by 1.2 MW during high energy demand evenings in the summer months.
“With our new integrated HRMs and our new PowerSync suite of controllers, our customers are able to easily maximize the return on their investment with a Capstone microturbine,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “We expect this integrated value proposition will be favorably received in the growing energy efficiency market, driving continued growth in our product revenue moving forward,” concluded Mr. Crouse.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) is the world’s leading producer of highly efficient, low-emission, resilient microturbine energy systems. Capstone microturbines serve multiple vertical markets worldwide, including natural resources, energy efficiency, renewable energy, critical power supply, transportation and microgrids. Capstone offers a comprehensive product lineup, providing scalable systems focusing on 30 kWs to 10 MWs that operate on a variety of gaseous or liquid fuels and are the ideal solution for today's distributed power generation needs. To date, Capstone has shipped over 9,000 units to 73 countries and have saved customers an estimated $253 million in annual energy costs and 350,000 tons of carbon.
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 September 6, 2019