Capstone Continues to Expand Its Energy Efficiency Business with a Multi-Megawatt Multi-Phase Development Project in Scotland
VAN NUYS, CA / ACCESSWIRE / February 10, 2020 / Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, today announced that SCE Energy (scengy.com), Capstone's exclusive distributor in Ireland, Scotland, Wales, and Northern United Kingdom secured an order for a C1000 Signature Series ICHP microturbine for an industrial processing business park in Scotland.
The order is phase one of a multi-phase development project with a scheduled commission date of April 2020. An additional one to two megawatts are expected to be installed within the next eighteen months rounding out phase three of the development project in 2022.
The latest C1000S ICHP microturbine order will be installed at a recycling plant and will be utilized in a combined heat and power (CHP) application. The order includes a Capstone supplied integrated roof mounted heat recovery module (HRM). The HRM is able to capture the waste heat from the microturbine, thereby achieving two outputs - electrical and thermal - from a single fuel source, in this case, low-pressure natural gas. The integrated CHP solution provides greater than 80 percent overall efficiency, while reducing NOx and greenhouse gas (CO2) emissions.
"One of the keys to growing and diversifying our global microturbine business is the continued growth of our energy efficiency or CHP business and projects utilizing renewable fuels," stated Darren Jamison, Capstone Turbine's President and Chief Executive Officer. "Capstone's energy efficiency business has grown from 40% of total revenues last year to 54% this year, and if you look at renewable projects, we have essentially doubled that portion of the business year-over-year," added Mr. Jamison.
Environmental concerns played a major part in the selection of a power generation solution. After a thorough analysis comparing various distributed generation technologies, the customer's management ultimately chose Capstone microturbines as their preferred solution for their low emissions and environmental benefits.
"The Capstone microturbine solution achieves significant emissions reductions, making the project Scottish Environment Protection Agency (SEPA) compliant as well as ensuring cost savings as part of the energy system solutions," stated Sam Clark, President of SCE Energy. "SCE Energy is delighted to announce this achievement in the year the United Kingdom is to host the 26th Session of the Conference of the Parties (COP 26)," concluded Mr. Clark.
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 in FY19 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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SOURCE: Capstone Turbine Corporation
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Released February 10, 2020