Capstone Turbine (NASDAQ:CPST) Secures 400-Kilowatt Order from KO-SI d.o.o. - A Natural Textile Manufacturer in Slovenia
The Order Is Backed by Capstone's Comprehensive 10-Year Factory Protection Plan (FPP)
VAN NUYS, CA / ACCESSWIRE / September 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 has received an order for two natural gas-fueled C200 Signature Series (C200S) microturbines for KO-SI d.o.o., a leading manufacturer of natural textiles and home furnishings. Laibach, Capstone's exclusive distributor in Slovenia and Croatia (www.laibach.si), secured the 400 kilowatt (kW) order that is expected to be commissioned in December 2020.
"This new 400-kW product and service contract order is continued proof of the resiliency we are experiencing from the markets in Europe. We have recently seen both product and service wins from the United Kingdom, Germany, Austria, Italy and now Slovenia as people in Europe return to work following the devastating impact of the COVID-19 pandemic," stated Darren Jamison, President and Chief Executive Officer of Capstone Turbine Corporation. "Since 2008, Laibach has been developing clean technology projects in partnership with Capstone, and they continue to build out their local energy efficiency market," added Mr. Jamison.
KO-SI d.o.o. is a leading manufacturer of environmentally friendly natural materials used in mattresses, upholstered furniture, packaging, insulation, and erosion control in the agricultural industry. In 2018, the company sought an energy-efficient solution that would reduce energy costs, improve resiliency, and lower their carbon footprint. Two C200S microturbines are expected to provide an ideal solution for the manufacturing plant by generating clean and green electricity and thermal energy on-site, behind the meter. The microturbines will be deployed in an efficient combined heat and power (CHP) configuration to produce electrical power, whereas the useable exhaust heat will be processed through a heat exchanger to produce hot air that will be used in the treatment of the natural fibers.
"KO-SI d.o.o. is dedicated to the application of sustainable green energy technologies such as Capstone microturbines," said Mr. Miro Murn, Principal at Laibach. "This CHP-microturbine application can serve as a blueprint for other textile manufacturers around the world," concluded Mr. Murn.
Textile manufacturing is a very energy-intensive process, making energy demands one of the highest cost factors in the industry. As manufacturers face an increasingly competitive global business environment, opportunities to reduce production costs without negatively affecting product is of the utmost importance. Rising energy prices are driving up costs and successful cost-effective investment into energy-efficiency technologies like Capstone microturbines can help meet these challenges while allowing greater energy independence.
A report by the Macarthur Foundation found that the industry's immense footprint extends beyond the use of raw materials. In 2015, greenhouse gas (GHG) emissions from textile production totaled 1.2 billion tons of CO2 equivalent, more than those of all international flights and maritime shipping combined at the time.
In recent years, sustainability has become a significant trend in the textile industry. Consumers are better informed and increasingly expect ecologically and socially responsible products and thus, sustainable solutions in the textile industry. Manufacturers are increasingly committed to tapping innovation potential and promoting sustainable development to give them an edge on the competition.
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 September 1, 2020