The German Combined Heat & Power Market Continues to Strengthen as Capstone Partner, E-Quad Power Systems, Secures a New C400 - The 20th System in Nine Months
VAN NUYS, CA / ACCESSWIRE / January 22, 2020 / 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 Capstone C400 Signature Series (C400S) microturbine for a leading gelatins and collagen peptides manufacturer in Germany. The order was secured by E-Quad Power Systems GmbH (www.microturbine.de), Capstone's distributor in Germany, and is the 20th microturbine system sold in the last nine months as the German combined heat and power ("CHP") market continues to rebound.
The latest C400S microturbine CHP project will be installed at a large manufacturing plant in Germany and be fueled by high-pressure natural gas. The microturbines will be used to reduce on-site energy costs and help lower overall plant CO2 emissions.
According to COGEN Europe, the European Association for the Promotion of Cogeneration, the process of cogeneration currently saves European countries around 200 million tons of CO2 per year. The goal is to have 20% of electricity and 25% of heat provided through cogeneration by 2030.
"After an extended period of economic insecurities in the German CHP market, we are continuing to see constructive indicators of a strengthening market since the spring of 2019 and now continuing into the new year," said Marcus Mehlkopf, Managing Partner of E-Quad Power Systems.
"It's great to see that more and more progressive companies in Germany are joining the distributed clean energy movement and adopting CHP for greater efficiency and lower emissions with lower overall energy cost," said Darren Jamison, President and Chief Executive Officer at Capstone.
"The distributed clean energy movement is seeing increased adoption rates as companies come to the realization that it is both economically and environmentally beneficial, plus Capstone can provide on-site energy resiliency which is of ever-increasing importance," added Mr. Jamison.
"Germany is one of the largest energy markets in Europe and is an energy thought leader in the European community. We are encouraged by this order and the strengthening German CHP market," stated Jen Derstine, Capstone's Vice President of Marketing and Distribution.
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 22, 2020