Capstone Turbine Expands Distribution Into Middle East -- Names Al-Nasr International Its Distributor in United Arab Emirates
CHATSWORTH, Calif., Sept. 23, 2009 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, has named Al-Nasr International LLC its distributor in the United Arab Emirates.
Established in 1992, Al-Nasr specializes in electrical and civil contracting, building construction, intelligent transportation systems, contract maintenance and operations services, alternative-power generation, metal fabrication and real-estate investment partnerships. The company is based in Al Ain, with field offices in Abu Dhabi, Dubai and Ajman.
For Capstone, Al-Nasr will sell and install Capstone turbines and microturbines in oil and gas, turbo electric and power applications throughout the seven-state UAE.
"The fast-growing United Arab Emirates is a new market for Capstone," said Jim Crouse, Capstone's Executive Vice President, Sales and Marketing. "Cities throughout the UAE are growing quickly, which means the need for reliable and efficient on-site power is becoming even greater. Capstone systems are highly efficient, compact and can withstand extreme temperatures, making them an ideal energy solution for this region."
"The addition of Capstone Turbine's suite of products and systems expands the scope of our business into alternative power generation, which is desperately needed throughout the United Arab Emirates," said Dr. Bill Sowell, CEO, Al-Nasr International. "There are new buildings that are near completion, but because demand for electricity greatly exceeds supply, local power companies won't be able to connect them to the power grid until 2012."
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 Turbine has shipped over 4,000 Capstone MicroTurbine(R) systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone Turbine 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 UL-Certified ISO 9001:2000 and ISO 14001:2004 certified company; Capstone is headquartered in the Los Angeles area with sales and/or service centers in the New York metro area, Mexico City, Nottingham, Shanghai, Singapore and Tokyo.
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This press release contains "forward-looking statements," as that term is used in the federal securities laws, about market expansion into the United Arab Emirates and the advantages of Capstone's products. Forward-looking statements may be identified by words such as "expects," "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 Turbine Corporation" 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 23, 2009