Capstone Turbine Enters into a New Original Equipment Manufacturer (OEM) Agreement with European-Based Clean Energy Company, B+K - Expanding the Application of Microturbine Technologies Not Reliant on Fossil Fuels
Capstone Immediately Receives Order for First Commercial Unit
VAN NUYS, CA / ACCESSWIRE / March 11, 2021 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading manufacturer of clean energy technology microturbine systems, announced today that it continues to expand the range of non-fossil fuels able to power its innovative microturbine based energy solutions. With the signing of a new OEM agreement with Professor Dr. Berg & Kießling GmbH (B+K) (www.bergundkiessling.com), Capstone immediately received an order for the first Capstone microturbine kit under the new agreement.
The Capstone microturbines will be integrated into the innovative B+K ClinX product. The ClinX product uses renewable sources instead of fossil fuels and thus prevents unnecessary CO2 emissions. ClinX enables the decentralized conversion of previously unused wooden byproducts into heat and electricity. A unique feature of ClinX is its relatively small size of <1 MW, which works well for decentralized energy applications, and it has a broad fuel spectrum. ClinX burns heterogeneous, wooden byproducts and thus converts heat and at the same time produces electricity using the externally fired Capstone microturbine.
"B+K was founded back in 2012 to develop decentralized combined heat and power (CHP) systems based on microturbine technology, and we are proud that after many years of collaboration, B+K has officially selected Capstone technology for their innovative ClinX product," said Darren Jamison, Capstone's President and Chief Executive Officer. "Capstone is committed to finding better ways to generate green energy for distributed generation and CHP applications using renewable natural gas, biogas, hydrogen or externally fired thermal solutions like the B+K ClinX," Mr. Jamison added.
The ClinX solution provides a more environmentally-friendly solution as customers convert energy from renewable energy sources instead of fossil fuels. This renewable energy generation helps to avoid additional CO2 emissions and to protect the environment. The use of professional filter systems guarantees compliance with stringent air quality standards. Depending on the input, the remaining ashes may also subsequently be used in agriculture and forestry.
"In addition to supplying microturbine kits to B+K, Capstone's factory project team will support the sale of the ClinX solution with its new Direct Sales organization and with our existing global Distribution network," said Jim Crouse, Capstone's Chief Revenue Officer. "The B+K containerized design will allow for quick deployment and easy installation," Mr. Crouse added.
ClinX is a modular system that is adapted to customers' requirements. The ClinX 50 will utilize Capstone's proven C65 microturbine, and the ClinX 150 will incorporate Capstone's highly reliable C200 microturbine. The systems will be expandable in a user-friendly manner as the central combustion unit with a subsequent energy conversion module will be able to be supplemented by a cooling or water treatment module if required.
"Capstone is a company that excels globally in clean and environmentally-friendly turbine solutions," said Sebastian Kiessling, Executive Partner of B+K. "Capstone lives our mission statement together with us, and we are looking forward to long-term cooperation and many successful joint projects," concluded Mr. Kiessling.
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.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for the Company's product collaboration with B+K and other statements regarding expectations, beliefs, plans, intentions and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the successful integration of the Company's microturbines with ClinX and marketing of the integrated product; the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events, or for any other reason. "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 March 11, 2021