Capstone Turbine (NASDAQ:CPST) continues the expansion of its Global Combined Heat and Power Business
An Expandable Five-Bay 600kW Signature Series Microturbine System Will Provide Heat and Power at the Churapcha Institute of Physical Culture and Sports
VAN NUYS, CA / ACCESSWIRE / July 1, 2020 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it secured an order for a C600 Signature Series microturbine (C600S) from the Russian Ministry of Sports to be installed at the Churapcha Institute of Physical Culture and Sports. DV Energy (www.dvenergy.pro), Capstone's distributor in the Far Eastern Federal District in Russia, secured the order for the 600-kilowatt microturbine system, which is expected to be commissioned in Fall 2020. The ability to provide clean and resilient power in some of the harshest weather conditions makes Capstone's microturbines a go-to solution.
"Since the oil collapse of 2014-2016, Capstone has been working to diversify its end market verticals, and energy efficiency, or CHP, has been our most successful market," said Darren Jamison, President and Chief Executive Officer of Capstone Turbine. "In fiscal year 2020, the CHP market was our largest business segment and represented 54% of our total product revenue up from 47% in the prior fiscal year," added Mr. Jamison.
The natural gas-fueled C600S package will be installed at the Institute's new on-site energy center and is intended to provide reliable and continuous electrical power for the expansive campus. Gas boilers will be installed to provide heating and achieve a practical combined heat and power (CHP) solution. The microturbine-based CHP system is expected to maximize the overall energy efficiency of the campus and provide significant energy savings.
Capstone Turbine's innovative technology was selected for its scalability, resiliency, and ability to reduce energy costs while simultaneously reducing emissions of pollutants and greenhouse gases. The five-bay microturbine enclosure will be installed to accommodate future expansion up to one megawatt (MW).
The recent order marks the second CHP project for DV Energy this year and illustrates Capstone's continued growth in Russia and surrounding CIS countries. Russia holds tremendous opportunity for Capstone powered combined heat and power (CHP) solutions that can provide customers an economic benefit while simultaneously lowering their carbon footprint.
"DV Energy has completed a broad range of services related to this project, such as research, design, project management, and will now supply equipment and begin construction of the new energy center for the Churapcha Sports Institute," stated Artem Yakovlev, Principal/Owner of DV Energy. "We are glad that the Churapcha Sports Institute will meet the new academic year with its own reliable source of electricity and heat, which will ensure a continuous learning process and new sporting achievements of students and teachers," concluded Mr. Yakovlev.
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, via our direct sales team, as well as our global distribution network. Capstone provides scalable solutions from 30 kWs to 10 MWs that operate on a variety of fuels and are the ideal solution for today's multi-technology distributed power generation projects.
For customers with limited capital or short-term needs, Capstone offers rental systems, for more information, contact: firstname.lastname@example.org. To date, Capstone has shipped nearly 10,000 units to 83 countries and in FY20, saved customers an estimated $219 million in annual energy costs and 368,000 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.
"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 July 1, 2020