Capstone Turbine Corporation (CPST) News http://ir.capstoneturbine.com/rss The latest news released by Capstone Turbine Corporation (CPST) en-us Equisolve Investor Relations Suite http://s3.amazonaws.com/equisolve-dev4/capstoneturbine/files/images/logo-transparent-bg-300.png Capstone Turbine Corporation (CPST) News http://ir.capstoneturbine.com/rss 88 31 Capstone Turbine to Participate in the Oppenheimer Emerging Growth Conference on May 16, 2017 in New York City http://ir.capstoneturbine.com/news/detail/3539/capstone-turbine-to-participate-in-the-oppenheimer-emerging-growth-conference-on-may-16-2017-in-new-york-city Thu, 11 May 2017 16:15:00 -0400 http://ir.capstoneturbine.com/news/detail/3539/capstone-turbine-to-participate-in-the-oppenheimer-emerging-growth-conference-on-may-16-2017-in-new-york-city

CHATSWORTH, Calif., May 11, 2017 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, will be participating in the Oppenheimer Emerging Growth Conference on May 16 in New York City. The day will feature one-on-one meetings with emerging growth companies in the consumer, technology, industrial and energy sectors.

Darren Jamison, President and Chief Executive Officer of Capstone Turbine Corporation, and Jayme Brooks, Chief Financial Officer and Chief Accounting Officer, will be available for one-on-one meetings at the conference.  Institutional investors interested in arranging a meeting with Capstone’s management team are encouraged to contact their Oppenheimer & Co. Inc. institutional sales representative.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company; Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

"Capstone" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

About Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. (Oppenheimer), a principal subsidiary of Oppenheimer Holdings Inc. (OPY on the New York Stock Exchange), and its affiliates provide a full range of wealth management, securities brokerage and investment banking services to high-net-worth individuals, families, corporate executives, local governments, businesses and institutions.

CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com 

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Capstone to Upgrade Upstate New York WWTP providing an Energy Solution from Biogas http://ir.capstoneturbine.com/news/detail/3538/capstone-to-upgrade-upstate-new-york-wwtp-providing-an-energy-solution-from-biogas Thu, 11 May 2017 08:30:00 -0400 http://ir.capstoneturbine.com/news/detail/3538/capstone-to-upgrade-upstate-new-york-wwtp-providing-an-energy-solution-from-biogas

CHATSWORTH, Calif., May 11, 2017 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it received an order for a C600 Signature Series microturbine to become part of an extensive upgrade for a wastewater treatment plant in upstate New York.

Capstone’s distributor, GEM Energy, secured the order, which is expected to be commissioned in the Spring of 2018. Capstone microturbines were selected for their low emissions and modular design, which is ideal for biogas applications. The customer received a New York State Energy Research & Development Authority (NYSERDA) incentive for implementing an onsite electricity solution from biogas.

The C600 Signature Series microturbine will be installed in a combined heat and power (CHP) configuration at the wastewater treatment facility and be fueled by biogas from the local municipal sewer system.

“Our recently launched Signature Series product is targeted directly at CHP, and this New York wastewater treatment plant project is significant as it furthers our strategic efforts to better diversify our market verticals, as energy efficiency is a big growth market for us both in the U.S. and globally,” said Darren Jamison, Capstone’s President and Chief Executive Officer.

The microturbine CHP plant will incorporate new digesters, advanced gas treatment and heat exchangers for heating the digesters. The site also has the potential for further expansion to larger microturbine solutions in the future.

“We are excited to see further market penetration in the renewable energy space,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “Wastewater treatment plants are realizing they can leverage the biogas they produce to reduce their operating costs and increase on-site reliability,” added Mr. Crouse.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of our Signature Series product offerings, diversification of market verticals, and further growth into the energy efficiency and renewable markets. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

CONTACT: Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

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Capstone Expands Africa Business with Oil & Gas Flare Reduction Project in North Africa http://ir.capstoneturbine.com/news/detail/3537/capstone-expands-africa-business-with-oil-gas-flare-reduction-project-in-north-africa Mon, 01 May 2017 08:30:00 -0400 http://ir.capstoneturbine.com/news/detail/3537/capstone-expands-africa-business-with-oil-gas-flare-reduction-project-in-north-africa

CHATSWORTH, Calif., May 01, 2017 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it received an order for two C65 microturbines to be installed in a flare gas application for an oil producer in North Africa.

Capstone’s distributor for North Africa secured the order, which is expected to be commissioned in September 2017.

The flare gas-fueled C65 microturbines will provide prime power for a remote oil and gas field operation by utilizing a fuel that would otherwise be flared. The installation will also serve as an initial pilot project for this customer and the region, showcasing the many benefits of microturbine-based flare reduction systems. Capstone microturbines were selected for their proven performance in similar applications around the world.

Darren Jamison, President and Chief Executive Officer of Capstone, said, “we continue to diversify our customer base and grow our geographic presence in key areas like Africa as it's a major growth opportunity for Capstone. According to published studies, as much as 65% of the global electricity consumption by 2020 will be located in emerging markets like Asia, Africa and the Middle East. Pilot projects and new customers like this are critical to our future success in these new high growth regions.”

According to the U.S. Energy Information Administration (EIA), the North African region is one of the major natural gas producing regions on the continent. North Africa holds a vast amount of shale gas resources.

“Like many of our oil and gas customers, this significant oil producing company was looking for an economically viable alternative to traditional diesel powered generator sets,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “Capstone microturbines are able to effectively utilize poor quality gas and turn it into clean and reliable onsite power,” added Mr. Crouse.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws about the advantages of microturbines in various applications; diversification of our customer base; and growth opportunities in various regions such as Africa. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

CONTACT:   
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

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Capstone Secures 2MW CHP Project for Kuwait Institute for Scientific Research http://ir.capstoneturbine.com/news/detail/3535/capstone-secures-2mw-chp-project-for-kuwait-institute-for-scientific-research Wed, 26 Apr 2017 08:30:00 -0400 http://ir.capstoneturbine.com/news/detail/3535/capstone-secures-2mw-chp-project-for-kuwait-institute-for-scientific-research

CHATSWORTH, Calif., April 26, 2017 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it received an order for two C1000 Signature Series microturbines to provide distributed power for two Kuwait Institute for Scientific Research (KISR) facilities in Kuwait City, Kuwait. The project is expected to be commissioned in July 2017.

“This project will demonstrate an effective approach to supply the rapidly expanding new cities in the GCC (Gulf Cooperation Council) region with an efficient and practical solution that can meet the growing energy demand, which averages 6 to 7 percent annually,” said Ayman Al Qattan, Renewable Energy Program Manager at Kuwait Institute for Scientific Research.

A diesel-fueled C1000S microturbine will be installed in a combined heat and power (CHP) configuration at the KISR headquarters to provide prime power, and later hot water, to a newly constructed water desalination plant. A second 1MW CHP unit will be fueled by natural gas and installed at a separate KISR facility operating in the oil sector.

Both systems will utilize Capstone’s new integrated heat recovery modules that dramatically simplify product installation, serviceability and overall operation in CHP and CCHP applications. The integrated heat recovery module provides recoverable heat energy driving total system efficiency levels as high as 80 percent. Capstone microturbines were selected for their high efficiency, low emissions and potential to provide a practical solution for distributed power generation and district cooling.

“KISR is pioneering scientific excellence in Kuwait and addressing key challenges, such as environment preservation and the sustainable management of the country’s natural resources,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “We look forward to working closely with KISR and our local distributor on these groundbreaking projects,” added Mr. Crouse.

Darren Jamison, President and Chief Executive Officer of Capstone, said, “Our focus continues to be fixed on diversifying our customer base and geographic presence while increasing our business in the CHP or energy efficiency markets. The Middle East is a new growth market for Capstone and an important part of our strategic initiative. Since launching the initiative, we have sold products into Saudi Arabia, Oman, Qatar and Kuwait”, added Mr. Jamison.

According to the International Energy Agency (IEA), Kuwait is completely reliant on the burning of fossil fuels for energy generation and water desalination. Kuwait’s energy demand is expected to triple by 2030.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of Capstone products and accessories including our new integrated heat recovery module; diversification of our geographical and market presence; and increased growth in the Middle East. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

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Capstone Launches the New C200 Signature Series Microturbine http://ir.capstoneturbine.com/news/detail/3534/capstone-launches-the-new-c200-signature-series-microturbine Mon, 24 Apr 2017 08:30:00 -0400 http://ir.capstoneturbine.com/news/detail/3534/capstone-launches-the-new-c200-signature-series-microturbine

CHATSWORTH, Calif., April 24, 2017 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, today officially launched the Capstone C200S microturbine, as part of the company’s new Signature Series line of microturbine energy systems.

Capstone C200 Signature Series Microturbine
Introducing the new Capstone C200S microturbine with an improved enclosure and integrated heat recovery capabilities.


A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3402a29f-a42a-49ba-b016-18ad74121ebc.

The 200-kilowatt C200S microturbine incorporates numerous system and design upgrades intended to improve overall product quality, reliability, and performance. The new product enhances the microturbine ownership experience, especially for combined heat and power (CHP) and combined cooling, heat and power (CCHP) applications.

A few of the new key upgrades include:

  • Integrated Heat Recovery for CHP and CCHP Applications – The integrated heat recovery module dramatically simplifies product installation, serviceability and overall operation in CHP and CCHP applications. The integrated heat recovery module provides recoverable heat energy driving total system efficiency levels in excess of 80 percent.
     
  • Two-Stage Air Filtration System – The first stage offers coarse particulate filtration without the need to shut down the unit or open the enclosure door to perform filter inspection or service. The second internal stage offers improved engine filter longevity and pressure drop monitoring to increase the time between service intervals and assist with the scheduling of service visits.
     
  • Improved Enclosure – The reinforced enclosure frame has been modernized and features a lower acoustics signature for CHP and CCHP installations in sensitive urban environments. In addition, it has an increased load carrying capacity for auxiliary equipment. The redesigned, double-walled engine bay door is sturdier and easier to seal.
     
  • Relocated Engine Exhaust Stack – The combustion exhaust port has been relocated to the roof of the enclosure to match the design of the other larger products in Capstone’s Signature Series line. This allows for ease of installation and integration of a heat recovery module for CHP and CCHP applications.
     
  • Redesigned Discharge for Enclosure Cooling Air – The enclosure incorporates a new rear louver design allowing package cooling air to discharge without the need for an add-on rain hood. This updated approach further reduces the installed footprint of the enclosure, which is critical for building retrofits, without compromising rain protection.

“We remain focused on diversifying our business by increasing our revenue from the CHP and CCHP energy efficiency markets with a short-term goal of 40% energy efficiency, 40% oil and gas and 20% renewables and other market verticals,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “The new C200 Signature Series product further supports this strategic effort, and the new roof mounted integrated CHP heat recovery modules designed specifically for our Signature Series product will add additional revenue growth as it did in the most recent quarter when the company added approximately $0.5 million of new Signature Series accessory revenue,” added Mr. Jamison.

“The global success of Capstone’s Signature Series microturbines has helped to propel the company into a new age of power generation technology,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “Our customers are now experiencing a new level of quality, reliability, and performance with our new complete line of Signature Series products,” added Mr. Crouse.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company; Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of our Signature Series product and accessories offerings including our new C200S product line, diversification of business, growth in revenue, and increases in revenue from the CHP and CCHP energy efficiency markets. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

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Capstone and FGC Plasma Solutions to test new plasma combustion technology http://ir.capstoneturbine.com/news/detail/3533/capstone-and-fgc-plasma-solutions-to-test-new-plasma-combustion-technology Wed, 19 Apr 2017 08:30:00 -0400 http://ir.capstoneturbine.com/news/detail/3533/capstone-and-fgc-plasma-solutions-to-test-new-plasma-combustion-technology

CHATSWORTH, Calif., April 19, 2017 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), a leading clean technology manufacturer of microturbine energy systems, announced today that it has partnered with FGC Plasma Solutions to test a new plasma-assisted fuel injection technology in its C65 microturbine.

FGC Plasma Solutions has engineered a fuel injection technology that incorporates plasma to better control combustion in jet engines and gas turbines. The technology enables more optimum operation of the engine as well as benefits from lower emissions, increased fuel flexibility and improved reliability.

Felipe Gomez del Campo, CEO of FGC Plasma Solutions, recently joined Chain Reaction Innovations (CRI) at Argonne National Laboratory. Through participation in CRI, Gomez del Campo has access to test FGC’s patented technology on injectors designed for a Capstone turbine engine located at Argonne. CRI is one of the U.S. Department of Energy’s Lab-Embedded Entrepreneurship Programs, funded jointly by the Advanced Manufacturing Office (AMO) and by Argonne National Laboratory, and co-managed with the Technology-to-Market Program within the Office of Energy Efficiency and Renewable Energy. The Lab-Embedded Entrepreneurship Programs embed top technical talent within DOE national laboratories as entrepreneurial research fellows with the express goal of subsequently launching an energy- and manufacturing-based business.

Capstone and FGC Plasma signed a Memorandum of Understanding to loan FGC Plasma Solutions a set of Capstone fuel injectors to use in its testing. Capstone and FGC Plasma Solutions will work together to develop a new combustion concept for improved turbine efficiency and emissions performance. Capstone has been partnering with Argonne through AMO’s Technologist in Residence (TIR) program. The TIR program pairs senior lab and industry technologists to streamline engagement and increase early-stage collaborative research and development between national labs and companies seeking to leverage lab resources.

The new fuel injection technology could enable Capstone microturbines to run on an expanded range of “opportunity fuels” -- fuels that are not currently widely used, but have the potential to be a source of power generation -- with widely varying compositions, such as gasified industrial waste streams. Testing will be held at Argonne.

“Capstone is continually searching for innovative ways to generate clean and reliable power,” said Tony Lorentz, Capstone’s Vice President of Engineering and Product Development. “We look forward to testing plasma-assisted fuel injectors and the improvements it can make in all areas of turbine performance.”

Traditional gas-powered turbines often lack the ability to operate on opportunity fuels. Finding a way to use alternative, sustainable fuel sources would reduce operational costs, minimize wear and tear on combustors and enable turbine generators to better handle rapid changes in electrical loads, such as those that stem from connecting renewable energy sources to electrical grids.

“FGC Plasma is very excited about the opportunity to collaborate with Capstone to work on the next generation of microturbine combustors,” said Gomez del Campo. “It is also great to have an experienced partner such as Capstone to help us develop our product line.”

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

About FGC Plasma Solutions

FGC Plasma Solutions, a start-up company, works with plasma to improve combustion in gas turbines and jet engines. While the idea of plasma-assisted combustion is not new in itself, FGC Plasma Solutions has pioneered the application of this phenomenon to gas turbines and jet engines through its patented technology. FGC Plasma Solutions technology can provide an additional degree of control over the combustion process, allowing for lower emissions, improved fuel flexibility and enhanced operational flexibility. The technology also enables the use of low calorific value opportunity fuels. The technology may also enable improved performance at startup and low load operation.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages and success of fuel injection technology and the opportunity it affords, improvements in turbine efficiency, and benefits of lowering emissions. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

INVESTORS:
Dian Griesel Int’l
Cheryl Schneider
212-825-3210

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Capstone Turbine Reports Selected Preliminary Fourth Quarter Fiscal 2017 Financial Results http://ir.capstoneturbine.com/news/detail/3532/capstone-turbine-reports-selected-preliminary-fourth-quarter-fiscal-2017-financial-results Mon, 17 Apr 2017 08:30:00 -0400 http://ir.capstoneturbine.com/news/detail/3532/capstone-turbine-reports-selected-preliminary-fourth-quarter-fiscal-2017-financial-results

Cash Usage Approaches Zero on Higher Revenue, Line of Credit Borrowings and Tight Expense Controls

Book-to-Bill Ratio Surges on New U.S. Shale and Energy Efficiency Projects

CHATSWORTH, Calif., April 17, 2017 (GLOBE NEWSWIRE) -- In an effort to increase investor transparency, Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems announced selected preliminary fourth quarter financial results indicating a quarter-over-quarter improvement in cash usage of 86%, excluding the net proceeds from equity transactions and including increased borrowings from the Wells Fargo credit facility and approximately $22 million in quarterly revenue, an 11% increase from the prior quarter’s revenue and a 16% increase from the same period a year ago.

Darren Jamison, President and Chief Executive Officer of Capstone Turbine said, “I am extremely pleased with our preliminary fourth quarter results as the business continues to improve in all of our focus areas, while we continue to execute against our three-pronged profitability strategy. When you exclude the cash from equity raises, this is the third best cash usage quarter in the last five years. Cash and revenue growth are my primary focus as we continue our drive to profitability by leveraging our new significantly lower operating cost structure,” added Mr. Jamison.

The continued sequential improvement in cash was achieved by a combination of higher revenues, increased borrowings from the Wells Fargo credit facility, improved working capital management and continued tight expense controls. Total cash, cash equivalents and restricted cash decreased $0.2 million to $19.2 million as of March 31, 2017, compared to cash, cash equivalents and restricted cash balance of $19.4 million at the end of the third quarter and $16.7 million as of March 31, 2016. Each of these balances includes approximately $5.0 million of restricted cash related to the Wells Fargo credit facility, and the March 31, 2017 cash balance includes approximately $0.3 million of net proceeds from new equity transactions that occurred during the fourth quarter of fiscal 2017.

Cash used in the fourth quarter, excluding net proceeds from equity transactions and including changes in the Wells Fargo credit facility, was $0.5 million compared to $3.5 million for the third quarter of fiscal 2017 and $7.1 million for the fourth quarter of fiscal 2016. As a result, cash used during the fourth quarter of fiscal 2017 decreased $3.0 million, or 86%, over the third quarter fiscal 2017, and decreased $6.6 million, or 93%, over the fourth quarter of fiscal 2016.

“As I said last quarter, we are at war with operating costs and will continue our focus on lowering our cash burn by looking at every area where we can reduce expenses, increase inventory turns, increase efficiency and improve our cash cycle. We have made tremendous strides in this area, as reported business expenses for the third quarter were down over 35% from the same period a year ago,” added Mr. Jamison.

The company booked new product orders of approximately $20 million during the fourth quarter, for a 1.3:1 book-to-bill ratio, compared with $8.5 million of new product orders received and booked during the prior quarter, which was a 0.7:1 book-to-bill ratio.

“We remain focused on diversifying our customer base and geographic presence while increasing our revenue from the combined heat and power (CHP)/energy efficiency markets as our oil and gas business continues to rebound as it did during this quarter,” added Mr. Jamison.

The company reported that the Factory Protection Plan (FPP) long-term service contract backlog remained strong and at the record level achieved last quarter of approximately $77 million.

“While the size of the installed microturbine fleet expands worldwide, we continue our focus on growing our FPP service contract business as the continued growth of this business is one of the keys to achieving our profitability and reduced cash usage goals as it yields high margin recurring revenue. Capstone’s FPP long-term service contract backlog has grown approximately 18% over the last 18 months,” stated Mr. Jamison.

During the fourth quarter of fiscal 2017 the company received large U.S. shale play orders from Capstone distributors, Horizon Power Systems and E-Finity Distributed Generation. E-Finity also secured a significant 5MW CHP project, as well as GEM securing a 1MW CHP project. RSP Systems received an order during the quarter for a C1000S microturbine and two C600S microturbines to enhance two of the largest office towers currently under construction in New York City.

The company continued to ship and commission the new Signature Series CHP focused product which is getting very positive customer feedback. In addition, the company shipped 10 of its new roof mounted integrated CHP heat recovery modules designed for our C1000 Signature Series systems, which added approximately $0.5 million of new accessory revenue in the fourth quarter.

“As a result of our new fuel development program, we sold our first butane-fueled unit.  The butane-fueled unit is a C600S system that is scheduled to ship to a small village in West Africa in June,” added Mr. Jamison.

“As a team, we remain firmly focused on shortening our path to profitability by lowering our business expenses, growing both our product and service revenues, diversifying our business, launching new innovative products, improving add-on accessory sales, creating new key partnerships and tightly managing our balance sheet,” Mr. Jamison concluded.

The financial results presented in this press release are preliminary and may change. This preliminary financial information includes calculations or figures that have been prepared internally by management and have not been reviewed or audited by our independent registered public accounting firm.  There can be no assurance that the Company’s actual results for the period presented herein will not differ from the preliminary financial data presented herein and such changes could be material. This preliminary financial data should not be viewed as a substitute for full financial statements prepared in accordance with GAAP and is not necessarily indicative of the results to be achieved for any future periods. The company expects to issue its full financial results for the fiscal year and fourth quarter ended March 31, 2017, no later than June 13, 2017.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company; Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about Capstone’s business improvement; decrease in cash burn; the success of it’s three pronged plan to profitability; decrease in operating costs; increased inventory turns; increase in revenue; diversification of customers base, market verticals and geographical presence; success of Capstone’s FPP program; advantages of our Signature Series product and accessories offerings; and the development of new innovative products such as our new fuel development programs. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

Primary Logo

Source: Capstone Turbine Corporation ]]>
Capstone Expands CHP Presence in the United Kingdom with Order for 30 ICHP Microturbines http://ir.capstoneturbine.com/news/detail/3531/capstone-expands-chp-presence-in-the-united-kingdom-with-order-for-30-ichp-microturbines Wed, 12 Apr 2017 08:30:00 -0400 http://ir.capstoneturbine.com/news/detail/3531/capstone-expands-chp-presence-in-the-united-kingdom-with-order-for-30-ichp-microturbines

CHATSWORTH, Calif., April 12, 2017 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it received an order for 30 C65 ICHP microturbines for various integrated combined heat and power (CHP) projects across the United Kingdom.

Capstone Turbine C65 ICHP Microturbine
The C65 iCHP microturbine with new and improved HRM (heat recovery module) offers better total system efficiency for cogeneration and trigeneration applications.


A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3e1bbc18-5879-4af4-81cd-04fbe8351bfb

“Energy efficiency is a big growth market for in the UK and all over Europe,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “We are honored that Pure World Energy has chosen to expand its fleet by leveraging our Capstone product, and our new and improved roof mounted exhaust heat recovery module,” added Mr. Jamison.

Pure World Energy, Capstone’s UK partner, secured the order, which is expected to be commissioned beginning July 2017. Pure World Energy owns and operates Micro Power Stations across the UK for which Capstone’s C65 microturbine is the core technology. Capstone microturbines were selected for their high reliability, low emissions and low cost of ownership.

“As Pure World Energy enters its next stage of growth, this order reflects our ongoing commitment to Capstone technology,” said Simon Wright, Pure World Energy’s Chief Executive Officer. “Energy costs in the UK continue to rise, and facility operators are reviewing their energy strategies to see where savings can be made. Our investment in purchasing an additional 30 C65 ICHP microturbines will enable us to fulfill the immediate demand we have throughout 2017 and expand our existing Capstone fleet,” added Mr. Wright.

The natural gas-fueled 65kW ICHP microturbines will be installed at multiple leisure, healthcare and hospitality facilities providing cogeneration benefits year round, which include reduced operational expenses and lower environmental impact. All 30 units will utilize Capstone’s new C65 heat recovery module (HRM), which features a 6% efficiency improvement over the original HRM technology.

“Capstone’s new and improved HRM technology will provide greater overall system efficiency in the same footprint which translates to improved project economics for customers,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “This new C65 HRM will allow us to capture even more accessory business globally, especially in Europe,” added Mr. Crouse.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of Capstone product offerings in the ICHP applications and the growth and expansion into the energy efficiency markets in the UK and across Europe. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

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Source: Capstone Turbine Corporation ]]>
Capstone Announces the Election of Yon Yoon Jorden to its Board of Directors http://ir.capstoneturbine.com/news/detail/3530/capstone-announces-the-election-of-yon-yoon-jorden-to-its-board-of-directors Tue, 11 Apr 2017 16:15:00 -0400 http://ir.capstoneturbine.com/news/detail/3530/capstone-announces-the-election-of-yon-yoon-jorden-to-its-board-of-directors

CHATSWORTH, Calif., April 11, 2017 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that Yon Yoon Jorden has been unanimously elected as a new director of Capstone. 

Capstone’s Nominating and Governance Committee conducted an extensive search for an executive who would further strengthen our board’s breadth of talent and experience, and is pleased to have identified such a highly qualified professional, who will bring a wealth of financial expertise with her to Capstone,” said Holly Van Deursen, Capstone’s Chairperson. “We are pleased to welcome Yon Yoon Jorden as a director, and look forward to the experience she brings with her as we continue our push towards profitability,” added Ms. Van Deursen.

Ms. Jorden brings to the Capstone Board of Directors decades of extensive experience as both a Chief Financial Officer (CFO) as well as a board member spanning across various healthcare, technology and manufacturing industries and has served in all areas of corporate governance and finance including mergers and acquisitions, structuring IPOs, restructurings, and managing public debt and equity offerings. Ms. Jorden is a board leadership fellow of the National Association of Corporate Directors, demonstrating her leadership as a board member.

Ms. Jorden is a current director for Maxwell Technologies (NASDAQ:MXWL); Methodist Health System; Dallas Symphony Association, and the World Affairs Council of Dallas–Fort Worth. Previously, Ms. Jorden served as a director for Magnatek, Inc.; U.S. Oncology, and BioScrip.

During an impressive business career spanning more than 25 years, she has held the CFO position of four publicly traded companies, most recently as Executive Vice President (EVP) and CFO of Advance PCS. She previously served in the position of EVP and CFO of Informix Corporation. Before joining Informix Corporation, Ms. Jorden worked for Oxford Health Plans, Inc. as its Senior Vice President and CFO.

“After careful consideration, I am delighted to have been elected to serve on the Capstone Board of Directors. Capstone has faced its share of macroeconomic challenges over the past two years but now appears to be making solid traction towards profitability. With a newly redesigned product offering, management’s focus on the geographical and market diversification, growing the service business and an organization-wide war on costs campaign, I am confident the foundation has been set to drive improving results going forward,” said Ms. Jorden. “I look to this new opportunity to offer my financial insight, strategic guidance, and experience in an effort to further reduce costs, improve efficiencies and assist in the success of the new Capstone Energy Finance joint venture,” added Ms. Jorden.

Ms. Jorden is the second outside director appointed to the Capstone Board of Directors recently, as Mr. Paul DeWeese was appointed at last year's annual shareholder meeting in late August. Mr. DeWeese has brought Chief Executive Officer (CEO), strategic growth and acquisition experience to the Capstone Board and is assisting the company in improving its aftermarket parts, accessories and service business. Mr. DeWeese also brings over 19 years of experience in the oil and gas field services industry. He is a senior executive with vast experience running both public and private equity-backed companies which were both domestic and internationally headquartered.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of our Signature Series product offerings and our air bearing technology, diversification of our customer base, expansion of our geographic presence, and growth in the CHP and energy efficiency markets. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

Primary Logo

Source: Capstone Turbine Corporation ]]>
Capstone Continues to Diversify its Business with Project in West African Village http://ir.capstoneturbine.com/news/detail/3529/capstone-continues-to-diversify-its-business-with-project-in-west-african-village Mon, 10 Apr 2017 08:30:00 -0400 http://ir.capstoneturbine.com/news/detail/3529/capstone-continues-to-diversify-its-business-with-project-in-west-african-village

CHATSWORTH, Calif., April 10, 2017 (GLOBE NEWSWIRE) -- 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 C600S microturbine to provide prime electrical power for a small community in Mali located in West Africa. The 600kW Signature Series, dual mode microturbine will provide stand-alone power, and is the first to be installed in Mali.

Darren Jamison, President and Chief Executive Officer of Capstone, said, “Our focus continues to be fixed on diversifying our customer base and geographic presence while increasing our business in the CHP or energy efficiency markets. Africa is a new growth market for Capstone and an important part of our strategic initiative. Since launching the initiative, we have sold products into South Africa, Nigeria, Algeria, Tunisia and now Mali.”

The customer, KAMA-SA, believes that the application will be repeated in other cities and villages in West Africa in the near future. The order is expected to be commissioned in August 2017. KAMA-SA selected Capstone microturbines because of their ability to run butane, which is a locally available, economical and clean-burning fuel. The customer also recognized the advantages of Capstone’s air bearing technology, which means there is no need for oil changes, reducing maintenance cost and down time in the remote location.

“This is another project highlighting Capstone’s ability to meet the varying needs of our global customer base,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “We continue to expand our ability to burn a wide variety of fuels, driving new opportunities around the globe,” added Mr. Crouse.

According to the International Energy Agency (IEA), access to electricity in Sub-Saharan Africa still lags behind the rest of the world due to the scarcity of capital and other factors. Economic growth and living conditions are severely constrained by a lack of reliable power generation capacity.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of our Signature Series product offerings and our air bearing technology, diversification of our customer base, expansion of our geographic presence, and growth in the CHP and energy efficiency markets. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

Primary Logo

Source: Capstone Turbine Corporation ]]>
Fortune 500 Manufacturer Selects Capstone Signature Series Microturbines for Large 5MW CHP Project http://ir.capstoneturbine.com/news/detail/3528/fortune-500-manufacturer-selects-capstone-signature-series-microturbines-for-large-5mw-chp-project Wed, 05 Apr 2017 08:30:00 -0400 http://ir.capstoneturbine.com/news/detail/3528/fortune-500-manufacturer-selects-capstone-signature-series-microturbines-for-large-5mw-chp-project

CHATSWORTH, Calif., April 05, 2017 (GLOBE NEWSWIRE) -- 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 initial order for five C1000S Signature Series microturbines to enhance the overall energy efficiency of a large manufacturing facility in Tennessee.

The customer, a U.S. Fortune 500 manufacturing company, will adopt the ultra-clean energy technology as part of their overall corporate sustainability initiative. E-Finity Distributed Generation, Capstone’s distributor for the Mid-Atlantic and Southeastern U.S., secured the order, which is expected to be commissioned by November 2017.

“Our recently launched C1000S Signature Series product is targeted directly at CHP, and this order is significant as it furthers our strategic efforts to better diversify our market verticals, as energy efficiency is a big growth market for us both in the U.S. and globally,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “We have hit a lot of singles and doubles in the CHP market with our new Signatures Series product, but a 5MW order from a world class manufacturing company is a home run to straightaway centerfield,” added Mr. Jamison.

The five natural gas-fueled C1000 Signature Series microturbines will be installed in a combined heat and power (CHP) application and operate in dual mode, with the ability to be expanded to six units in the future. Clean waste heat from the microturbine exhaust will be directly used in an industrial drying process. Capstone microturbines were selected for their high reliability, low emissions, and total system efficiency.

“We are extremely excited to see greater recognition of the benefits that CHP offers customers and look forward to a continued increase in market growth using an abundance of affordable clean-burning natural gas,” said Jim Bondi, E-Finity’s Executive Vice President.

“We are seeing the U.S. CHP market really start to solidify with more renewed spending in both new constructions and building retrofits,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “Energy efficiency customers are realizing the benefits of low-emission CHP and turning to technologies like ours to reduce their operational costs and become more sustainable and competitive in a global economy,” added Mr. Crouse.

According to the U.S. Energy Information Administration (EIA), the decline in natural gas prices has led to a steady increase in the use of natural gas for power generation in the Mid-Atlantic region.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of our Signature Series product offerings, advantages of our products in CHP applications, diversification of our market verticals, and growth in the energy efficiency market. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

CONTACT:   
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

Primary Logo

Source: Capstone Turbine Corporation ]]>
Capstone Continues to Develop its CHP and CCHP Market with 2.2MW of New Signature Series Product for Two of the Largest Office Towers in New York City http://ir.capstoneturbine.com/news/detail/3527/capstone-continues-to-develop-its-chp-and-cchp-market-with-2-2mw-of-new-signature-series-product-for-two-of-the-largest-office-towers-in-new-york-city Mon, 03 Apr 2017 08:30:00 -0400 http://ir.capstoneturbine.com/news/detail/3527/capstone-continues-to-develop-its-chp-and-cchp-market-with-2-2mw-of-new-signature-series-product-for-two-of-the-largest-office-towers-in-new-york-city

CHATSWORTH, Calif., April 03, 2017 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it received an order for a C1000S microturbine and two C600S microturbines to enhance two of the largest office towers currently under construction in New York City. RSP Systems, Capstone’s distributor for the greater New York area and Connecticut, secured the order, which is expected to be commissioned in 2019.

“We continue to successfully diversify our market verticals by concentrating on CHP and CCHP as energy efficiency is a big growth market for us globally,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “Our recently launched C1000S Signature Series product is targeted directly at customers like hotels, office buildings, hospitals, retail and industrial applications and I’m proud to say the Signature Series product is performing exceptionally well and exceeding most customers’ expectations,” added Mr. Jamison.

Three natural gas-fueled Signature Series microturbines will be installed in two separate combined cooling, heat and power (CCHP) applications and operate in parallel with the electrical grid. The clean waste heat from the microturbines will be used to provide domestic hot water, space heating and cooling based on seasonal needs.

In addition, RSP Systems placed a separate order for two C65 microturbines as part of Hurricane Sandy Relief for a residential housing complex on the Lower East Side of Manhattan. The retrofit project will strengthen the durability of the facility by providing backup power during utility outages. The installation is expected to be commissioned in late 2017.

“Both projects were undertaken based on only the commercial viability of the Capstone microturbines in a CCHP application, and without any grant money required to support the economics like other clean technologies that are reliant on tenuous government subsidies,” said Cory Glick, RSP Systems’ President. “We are delighted that clients are utilizing Capstone microturbine technology purely based on the independent savings benefits they inherently provide,” added Mr. Glick.

According to the U.S. Energy Information Administration (EIA), the price of natural gas in New York City has decreased exponentially over the last year. New York’s total energy consumption ranks among the highest in the nation, yet state emissions from electricity generation have declined since 2000 due to increased natural gas use.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages and performance of our Signature Series product offerings as well as the successful diversification of market verticals in the CHP and CCHP markets. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners. 

CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

Primary Logo

Source: Capstone Turbine Corporation ]]>
Capstone Receives Another 3.3MW Order from a Repeat Oil and Gas Customer in the San Juan Basin Bringing the Total to 9.3MW in last 120 days http://ir.capstoneturbine.com/news/detail/3526/capstone-receives-another-3-3mw-order-from-a-repeat-oil-and-gas-customer-in-the-san-juan-basin-bringing-the-total-to-9-3mw-in-last-120-days Wed, 29 Mar 2017 08:30:00 -0400 http://ir.capstoneturbine.com/news/detail/3526/capstone-receives-another-3-3mw-order-from-a-repeat-oil-and-gas-customer-in-the-san-juan-basin-bringing-the-total-to-9-3mw-in-last-120-days

CHATSWORTH, Calif., March 29, 2017 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it received an order for multiple microturbines for a repeat oil and gas customer operating in the San Juan Basin.

Horizon Power Systems, Capstone’s oil and gas distributor for the Barnett, Eagle Ford, Mancos, Permian, San Juan, and Wattenberg shale plays, secured the order. The order, consisting of twelve C65 microturbines, three C600S Signature Series microturbines and a C800S Signature Series microturbine are expected to be commissioned early this summer.

“We are unquestionably seeing a strengthening in our U.S. oil and gas related business since the presidential election in November,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “This is the fourth large order secured in the U.S. shale plays in the last 120 days and together these orders total 9.3MW consisting of 36 microturbines for repeat customers,” added Mr. Jamison.

All 16 microturbines will provide prime power to oil production sites, production measurement operations and transportation pipelines. The units will be installed in increments over time and fueled by wellhead gas, direct from the pipeline. Capstone microturbines were selected for their low emissions profile, low maintenance and reliable power generation capabilities in remote locations.

“This oil and gas customer in particular has installed over 180 Capstone units over the years,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “As the oil and gas industry rebounds, we are seeing increased interest especially in our new world class Signature Series product offering,” added Mr. Crouse.

According to the U.S. Energy Information Administration (EIA), the San Juan Basin in northwestern New Mexico contains one of the largest demonstrated natural gas reserves in the United States. New Mexico is among the top 10 states in the nation in per capita natural gas consumption with the electric power sector being the largest consumer in the state.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of our microturbines and improvements related to Capstone’s Signature Series product offerings, as well as the strengthening and recovery of the oil and gas market. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

CONTACT: Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

Primary Logo

Source: Capstone Turbine Corporation ]]>
Capstone Holds Regional Strategy Meetings in Kazakhstan to Grow Presence in Russian, CIS Market – Secures Two New Orders from Participating Partners http://ir.capstoneturbine.com/news/detail/3525/capstone-holds-regional-strategy-meetings-in-kazakhstan-to-grow-presence-in-russian-cis-market-secures-two-new-orders-from-participating-partners Mon, 27 Mar 2017 08:30:00 -0400 http://ir.capstoneturbine.com/news/detail/3525/capstone-holds-regional-strategy-meetings-in-kazakhstan-to-grow-presence-in-russian-cis-market-secures-two-new-orders-from-participating-partners

CHATSWORTH, Calif., March 27, 2017 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it recently held a series of collaborative sales and marketing meetings in Almaty, Kazakhstan with seven of its regional distributors. The meetings are part of an ongoing effort to rebuild, strengthen and diversify the company’s overall presence in Russia and the surrounding Commonwealth of Independent States (CIS).

Synergy Astana, Capstone’s new distributor for Kazakhstan, hosted the meetings, which were led by Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing and Capstone’s Regional Sales Director, Kay Scholz, who recently relocated to Almaty. The in-person meeting permitted for open discussions on distributor best practices, product sales techniques, product and sales pipeline updates, and the effective use of Capstone’s customer relationship management (CRM) tool. Representatives from BMTec, BPC Engineering, DV Energy, Electrosystems, GESS Consulting Ukraine, Synergy Astana, and Thermoflex brought new and exciting ideas to the table and provided key market intelligence with updates for their individual territories.

“The recent meetings in Kazakhstan were well received by our local area distributors, and we look to continue the collaborative conversations as we move into the next fiscal year,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “Constructive meetings like these are allowing Capstone to explore new growth opportunities while sharing ideas with the people who know the local regions inside and out,” added Mr. Jamison.

As a result of its revamped growth strategy in Russia and CIS, Capstone announced two new orders from the region. BPC Engineering, Capstone’s distributor in Belarus and Russia, secured a follow-on order for a C1000 Signature Series microturbine, for immediate shipment. Concurrently, Electrosystems, another Capstone distributor in Russia, secured an order for a C65 microturbine, which is also for immediate shipment.

“The rebuilding of our business in Russia and the surrounding CIS area continues to go well as BPC Engineering was back up to 16% of our total revenue during the last quarter. BPC paid and took delivery of four Signature Series C1000 microturbines last quarter, which to date was the best performance in over two years. Securing an additional unit this quarter was another positive development in our rebuilding process,” added Mr. Jamison.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the expansion of Capstone’s distribution channel, as well as the growth and rebound of the Russian and CIS markets. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

CONTACT: Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

Primary Logo

Source: Capstone Turbine Corporation ]]>
Repeat Oil and Gas Customer to Receive First Capstone C600 Signature Series Three Bay Package Microturbine http://ir.capstoneturbine.com/news/detail/3524/repeat-oil-and-gas-customer-to-receive-first-capstone-c600-signature-series-three-bay-package-microturbine Mon, 20 Mar 2017 08:30:00 -0400 http://ir.capstoneturbine.com/news/detail/3524/repeat-oil-and-gas-customer-to-receive-first-capstone-c600-signature-series-three-bay-package-microturbine

CHATSWORTH, Calif., March 20, 2017 (GLOBE NEWSWIRE) -- 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 to power a natural gas compression station in southern Wyoming. This is the first order for a three bay package C600S microturbine, which has a smaller footprint and is lighter than the previous five bay package.

Capstone’s 600kW Signature Series microturbine – The C600S
The new three-bay C600S enclosure is lighter and offers a smaller footprint than the original. All C600S and C800S microturbines will feature a smaller, more efficiently designed enclosure beginning on April 1, 2017.


A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/0e8cef91-4f4f-4521-afa0-b3db1660c8c1

Horizon Power Systems, Capstone’s oil and gas distributor for the Eagle Ford, Permian, Barnett, Mancos, San Juan, and Wattenberg Shale plays, secured the order, which is expected to ship in the next few weeks and be commissioned in September 2017. This customer continues to buy Capstone microturbines for their low maintenance and ability to provide reliable power in remote locations.

“The oil, gas and other natural resources market continues to be an important market vertical for Capstone as we strive to improve our vertical market diversification with a goal of 40% oil, gas  and other natural resources, 40% energy efficiency and 20% renewable energy and critical power applications,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “Last quarter oil, gas and other natural resources comprised 38% of revenue with energy efficiency coming in at 53% and renewable energy and critical power representing 9%,” added Mr. Jamison.

The dual mode C600S microturbine will be fueled by natural gas from a nearby pipeline and provide primary power to the compression station. Although Capstone has smaller units running statewide, the larger 600kW microturbine will be the first to be installed in the state of Wyoming.

According to the U.S. Energy Information Administration (EIA), Wyoming supplies more energy to other states and has more federal oil and natural gas leases than any other state. Wyoming produced 6.2 percent of the nation’s marketed natural gas in 2015, and continues to stand as one of the top 10 natural gas producing states in the United States.

“We are seeing a steady increase in our global oil and gas business,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “Repeat oil and gas customers like this help to solidify Capstone’s position as the microturbine market leader and the preferred go-to power solution in the recovering oil and gas market. The new three bay enclosure is a nice new benefit as customers across all our market verticals enjoy smaller and lighter packages that are less costly to ship and easier to install,” added Mr. Crouse.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages and improvements related to Capstone’s Signature Series product offerings, the improvement of Capstone’s market diversification, and the increase of our CHP applications and sales into the recovering oil and gas market. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

CONTACT:    
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

Primary Logo

Source: Capstone Turbine Corporation ]]>
EnergyTechInvestor.com Discusses Aftermarket Service Revenue Opportunity with Capstone CEO Darren Jamison http://ir.capstoneturbine.com/news/detail/3522/energytechinvestor-com-discusses-aftermarket-service-revenue-opportunity-with-capstone-ceo-darren-jamison Wed, 15 Mar 2017 18:21:00 -0400 http://ir.capstoneturbine.com/news/detail/3522/energytechinvestor-com-discusses-aftermarket-service-revenue-opportunity-with-capstone-ceo-darren-jamison NEW YORK, NY / ACCESSWIRE / March 15, 2017 / EnergyTech Investor, LLC, a strategic advisory and independent research firm, announced today that Darren Jamison, Chief Executive Officer of Capstone Turbine Corporation (CPST), was interviewed by EnergyTechInvestor.com (ETI) regarding its aftermarket business opportunity and related growth drivers and margin expansion.

"The aftermarket business continues to play an important role in achieving profitability. Aftermarket service contracts generally carry attractive margins, which will help drive the margin expansion as the service contract attach rate increases," said Mr. Severson, Founding Partner of EnergyTech Investor, LLC.

To read the full interview, please go to: 
http://energytechinvestor.com/companycontent/cpst-aftermarket-service-opportunity-3-15-2017/

For more information, please visit EnergyTech Investor's website at: 
http://energytechinvestor.com/

About EnergyTech Investor, LLC

EnergyTech Investor, LLC (ETI) is a strategic advisory and independent research firm that delivers innovative investor intelligence programs, investor relations expertise and new investor outreach strategies to companies across the Energy Conversion and Industrial Technology sectors. ETI's mission is to generate insightful and credible information flow between companies and their investors through a broad portfolio of investor intelligence products that helps investors clearly understand the issues impacting a company and their stock price including strategic direction, technology, and industry dynamics. EnergyTech Investor was founded by Wall Street veteran and research analyst, Shawn Severson, after seeing a significant shift in the investment industry that resulted in less fundamental research conducted on small cap companies and a significant decline in information available to the average investor. ETI's mission is to bridge that information gap and deliver solutions to both companies and investors.

About Capstone Turbine Corporation

Capstone Turbine Corporation® is the world's leading developer and manufacturer of clean-and-green microturbine power generation systems, and was first to market with its high efficiency air bearing turbine technology. Capstone has shipped thousands of microturbines to customers worldwide. These innovative and award-winning systems have logged millions of documented runtime operating hours and are compliant with current and future emissions regulations. With over 86 distributors worldwide, Capstone's low-emission microturbines serve multiple vertical markets with industry-leading reliability and efficiency. Capstone offers a comprehensive product lineup, providing scalable solutions from 30kW to 30MW. Capstone microturbines can also operate on a variety of gaseous or liquid fuels and are the ideal solution for todays distributed generation needs. Capstone 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 9001:2015 and ISO 14001:2015 company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East, and Asia.

To receive free news and updates from EnergyTech Investor, please visit: www.energytechinvestor.com.

Sign up to follow EnergyTech Investor at:

https://twitter.com/ETI_AlphaDirect

Contact:

EnergyTech Investor, LLC
Shawn M. Severson
+1 415-233-7094
shawn@energytechinvestor.com
@ETI_AlphaDirect
www.energytechinvestor.com

SOURCE: EnergyTech Investor, LLC

]]>
Capstone Continues to Expand U.S. Energy Efficiency Market with a Large Industrial Customer in Upstate New York http://ir.capstoneturbine.com/news/detail/3521/capstone-continues-to-expand-u-s-energy-efficiency-market-with-a-large-industrial-customer-in-upstate-new-york Mon, 13 Mar 2017 08:30:00 -0400 http://ir.capstoneturbine.com/news/detail/3521/capstone-continues-to-expand-u-s-energy-efficiency-market-with-a-large-industrial-customer-in-upstate-new-york

CHATSWORTH, Calif., March 13, 2017 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it received an order for a C1000 Signature Series microturbine to upgrade an industrial customer in upstate New York.

Capstone’s distributor, GEM Energy, secured the order, which is expected to be commissioned in July 2017. Capstone microturbines were selected for their minimal overall maintenance and modular design, which enables 800kW of the system to continue operating while servicing one of the five bays. This ensures business process continuity for the customer while simultaneously reducing operational costs, helping maximize the ROI of the investment.

The C1000S microturbine will be fueled by clean burning natural gas and will provide continuous electrical power year-round as well as high-temperature hot water using Capstone integrated heat recovery modules. The 1MW combined heat and power (CHP) system will operate in parallel with the utility grid and be capable of providing power to a large portion of the critical process loads during utility outages.

“This is a meaningful energy efficiency win for us, and it’s great to see another Signature Series sold with our new roof mounted heat recovery modules,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “By developing our own Capstone integrated heat recovery modules, we are saving the customer money, shortening the installation time, decreasing the overall equipment footprint and adding approximately 20% more Capstone content to the project,” added Mr. Jamison.

According to the U.S. Department of Energy, there is estimated to be more than 240GW of technical potential across all CHP categories within the United States. Today, CHP represents approximately eight percent of U.S. electricity generation capacity and over 12 percent of annual U.S. power generation.

“More industrial customers are turning to Capstone for their CHP needs, not only for the clean, low maintenance technology, but also for the stellar service our distributors provide,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “This customer, in particular, required an extremely short lead time on equipment delivery and project completion, which both Capstone and GEM Energy were able to meet,” added Mr. Crouse.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the improvements related to Capstone’s Signature Series product offerings, advantages of our products and technology in CHP applications, and further expansion into the CHP market. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

Primary Logo

Source: Capstone Turbine Corporation ]]>
EnergyTechInvestor.com Talks with Capstone Turbine's CEO, Darren Jamison, Regarding Their Industry-Leading Microturbine Technology and the Distributed Power Generation Megatrend http://ir.capstoneturbine.com/news/detail/3523/energytechinvestor-com-talks-with-capstone-turbines-ceo-darren-jamison-regarding-their-industry-leading-microturbine-technology-and-the-distributed-power-generation-megatrend Thu, 16 Feb 2017 18:32:00 -0500 http://ir.capstoneturbine.com/news/detail/3523/energytechinvestor-com-talks-with-capstone-turbines-ceo-darren-jamison-regarding-their-industry-leading-microturbine-technology-and-the-distributed-power-generation-megatrend NEW YORK, NY--(Marketwired - February 16, 2017) - EnergyTech Investor, LLC, a strategic advisory and independent research firm, announced today that Darren Jamison, Chief Executive Officer of Capstone Turbine Corporation (CPST), was interviewed by EnergyTechInvestor.com (ETI) regarding distributed power and the power generation market, followed by a review of the technology advantages as well as Capstone's going-to-market strategy.

"The microturbine has been playing an increasing role in the distributed power market and Capstone is the clear leader in this technology platform," said Mr. Shawn Severson, Founding Partner of EnergyTech Investor, LLC.

Capstone's CEO, Darren Jamison, stated, "We look at distributed generation as a paradigm shift in the way people and businesses think about energy and how they purchase and use it and we analyze the best way to manage and control that spend with the goal of producing cleaner power more efficiently at a more affordable price point."

To read the full interview, please go to:
http://energytechinvestor.com/companycontent/cpst-microturbine-technology/

For more information, please visit EnergyTech Investor's website at:
http://www.energytechinvestor.com

About EnergyTech Investor, LLC

EnergyTech Investor, LLC (ETI) is a strategic advisory and independent research firm that delivers innovative investor intelligence programs, investor relations expertise and new investor outreach strategies to companies across the Energy Conversion and Industrial Technology sectors. ETI's mission is to generate insightful and credible information flow between companies and their investors through a broad portfolio of investor intelligence products that helps investors clearly understand the issues impacting a company and their stock price including strategic direction, technology and industry dynamics. EnergyTech Investor was founded by Wall Street veteran and research analyst, Shawn Severson, after seeing a fundamental shift in the investment industry that resulted in less fundamental research conducted on small cap companies and a significant decline in information available to the average investor. ETI's mission is to bridge that information gap and deliver solutions to both companies and investors.

About Capstone Turbine Corporation

Capstone Turbine Corporation® is the world's leading developer and manufacturer of clean-and-green microturbine power generation systems, and was first to market with its high efficiency air bearing turbine technology. Capstone has shipped thousands of microturbines to customers worldwide. These innovative and award-winning systems have logged millions of documented runtime operating hours and are compliant with current and future emissions regulations.

With over 95 distributors worldwide, Capstone's low-emission microturbines serve multiple vertical markets with industry-leading reliability and efficiency. Capstone offers a comprehensive product lineup, providing scalable solutions from 30kW to 30MW. Capstone microturbines can also operate on a variety of gaseous or liquid fuels and are the ideal solution for todays distributed generation needs.

Capstone 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 9001:2015 and ISO 14001:2015 company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

To receive free news and updates from EnergyTech Investor, please visit: www.energytechinvestor.com

Sign up to follow EnergyTech Investor at:
https://twitter.com/ETI_AlphaDirect

]]>
Capstone Secures 2.8MW Order for Repeat Oil and Gas Customers in Marcellus Shale Play http://ir.capstoneturbine.com/news/detail/3520/capstone-secures-2-8mw-order-for-repeat-oil-and-gas-customers-in-marcellus-shale-play Tue, 14 Feb 2017 08:30:00 -0500 http://ir.capstoneturbine.com/news/detail/3520/capstone-secures-2-8mw-order-for-repeat-oil-and-gas-customers-in-marcellus-shale-play

CHATSWORTH, Calif., Feb. 14, 2017 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it received a new order and order releases for a C800 Signature Series microturbine and two C1000 Signature Series microturbines for two repeat oil and gas customers operating in the Marcellus Shale play.

E-Finity Distributed Generation, Capstone’s distributor for the Mid-Atlantic and Southeastern United States, secured the projects, which are both expected to be commissioned in July 2017. Capstone microturbines were selected again based on proven reliability in the field, the responsiveness of the E-Finity service team and the improvements made to the new Capstone Signature Series product offering.

“A rebound in the oil and gas market is important to Capstone as we continue to improve our vertical market mix, with oil, gas and other natural resources comprising 38% of revenue compared with 22% of revenue in last year’s third quarter,” said Darren Jamison, Capstone’s President and Chief Executive Officer.

The three microturbines, fueled by wellhead natural gas taken directly from the pipeline, will provide primary electrical power for multiple compression stations. The microturbines will act as the primary energy source for these remote sites and ensure a steady flow of power while keeping area emissions ultra low.

According to the U.S. Energy Information Administration (EIA), natural gas production in the Appalachian basin from the Marcellus and Utica shales has grown significantly. A number of new pipeline projects, of which are in various stages of the approval process, could significantly boost the takeaway capacity out of the region by the end of 2018.

“We believe these orders, by two of our largest repeat customers, is an indication of a resurgence in the Marcellus and Utica Shale and a sign of activity for new feeder pipeline projects to come,” said Jeff Beiter, E-Finity’s Managing Partner. “This activity will have a significant impact for E-Finity’s planned downstream combined heat and power (CHP) projects, throughout its Mid-Atlantic and Southeastern territories, as it will provide more affordable natural gas to end-use customers,” added Mr. Beiter.

“As the oil and gas industry starts to rebound, we are beginning to see a revitalization of the Marcellus Shale play,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “Repeat orders like these allow us to further showcase Capstone’s industry-leading technology and save our customers money at the meter,” added Mr. Crouse.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company; Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages and reliability of Capstone products, the improvements related to Capstone’s Signature Series product offerings, the rebound of the oil and gas market, and the increase of sales into such markets. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

CONTACT:    
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

Primary Logo

Source: Capstone Turbine Corporation ]]>
Capstone Turbine Reports Third Quarter Fiscal 2017 Financial Results http://ir.capstoneturbine.com/news/detail/3519/capstone-turbine-reports-third-quarter-fiscal-2017-financial-results Thu, 09 Feb 2017 16:20:00 -0500 http://ir.capstoneturbine.com/news/detail/3519/capstone-turbine-reports-third-quarter-fiscal-2017-financial-results

 Operating Expenses Drop to Lowest Level in 14 Years - Aftermarket Service Business Complements and Strengthens Business Operations

 Net Income Impacted by One-Time Non-Cash Warranty Reserve and Non-Cash Warrant Liability Valuation

Conference Call and Webcast to Be Held Today at 1:45 PM PT, 4:45 PM ET

CHATSWORTH, Calif., Feb. 09, 2017 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world’s leading clean technology manufacturer of microturbine energy systems, reported financial results for its third quarter of fiscal 2017 ended December 31, 2016.

The company reported total revenue of $20.2 million for the third quarter of fiscal 2017 an increase of 35% from $15.0 million for the second quarter of fiscal 2017. Additionally, the company reported that the factory protection plan (“FPP”) service contract backlog continued to grow during the quarter and achieved record levels of $77.2 million and that service revenue for the quarter was $3.7 million with a service gross margin of 35%.

Operating expenses for the third quarter of fiscal 2017 were $6.1 million, which are down $3.8 million, or 38%, from the year-ago quarter and down an additional $0.3 million, or 5%, compared to prior quarter.

Darren Jamison, President and Chief Executive Officer of Capstone, said, “We have full confidence in our business profitability plan and believe that our results show the solid progress we have made to develop new revenue and growth opportunities, and we continue to grow our aftermarket service business, while at the same time streamlining our organization and reducing our cost structure to levels not seen in fourteen years.”

The company continues to focus on expanding into new geographical markets to achieve a target market vertical mix of 40% energy efficiency, 40% natural resources and 20% renewable energy and other. Progress was made during the third quarter of fiscal 2017, as the company shipped its first products into Qatar and Libya. The company also improved the vertical market mix, with product shipments from efficiency markets comprising 53% of revenue compared with 71% in last year’s third quarter, natural resources comprising 38% of revenue compared with 22% of revenue in last year’s third quarter and renewable energy and other comprising 9% of revenue compared with 7% of revenue in last year’s third quarter.  

As previously announced, cash used in the third quarter of fiscal 2017, excluding net proceeds from equity issuances, decreased 56% over the prior quarter. Cash and cash equivalents increased $3.3 million to $19.4 million as of December 31, 2016, compared to cash and cash equivalents of $16.1 million at the end of the prior quarter. Each of these balances includes $5 million of restricted cash related to the Wells Fargo credit facility, and the December cash balance includes net proceeds from equity issuances that occurred during the third quarter.

“We remain focused on minimizing our cash burn by controlling our operating expenses and tightly managing our working capital. We have lowered our operating expenses 38% from last year’s third quarter levels and we remain committed to streamlining our cost structure and increasing our margins with better materials pricing, work flow efficiencies and matching our organizational size to expected future activity levels,” added Mr. Jamison.

During the third quarter of fiscal 2017, the company decided to retrofit proactively select fielded non-Signature Series C200 microturbines in order to improve performance, reliability and customer satisfaction. This proactive retrofit program has the potential to decrease significantly future warranty and FPP expense. As a result of this decision, the company recorded a one-time non-cash warranty charge of approximately $5.2 million, which was offset by the proactive retrofits performed in the third quarter, leaving a warranty reserve liability at the end of the quarter of approximately $3.0 million remaining for future proactive retrofits. However, as a result of this one-time warranty charge, the timing of inventory adjustments and the closeout of certain purchase agreements, the gross margin for the third quarter of fiscal 2017 was negative 20% compared to 5% in the prior quarter.

The company also recorded a non-cash benefit of $1.8 million for the change in the fair value of the warrant liability during the third quarter of fiscal 2017. This decrease in net loss was the result of the adoption of Accounting Standards Codification 815 “Derivatives and Hedging” which affects the company’s accounting for warrants with certain anti-dilution provisions. Net loss for the third quarter was $8.9 million, compared with a net loss of $6.0 million in last year’s third quarter.  Capstone’s net loss for the third quarter before considering the non-cash warrant liability benefit would have been $10.7 million (calculated by subtracting the $1.8 million warrant liability benefit from the $8.9 million reported net loss), or $0.31 basic loss per share ($0.33 diluted loss per share), (calculated by subtracting a $0.05 basic and diluted gain per share attributable to the warrant liability benefit from the reported $0.26 basic loss per share ($0.28 diluted loss per share)), compared to the $6.0 million, or $0.34 basic and diluted loss per share (split adjusted) for the third quarter of fiscal 2016, which did not include a warrant liability benefit.

Business Developments and Milestones Recently Achieved:

  • Capstone Energy Finance (“CEF”) partnered with Sky Solar for additional project capital and with Acresis and Bridge Bank for distributor product financing. Orders through CEF are developing, and the company anticipates that CEF will execute the initial power purchase agreements in the coming quarters.
     
  • In December 2016, the company announced that it changed audit firms and insourced the investor relations function, which is anticipated to result in savings of approximately $600,000 for fiscal 2018 compared to fiscal 2016.
     
  • The company continued to move forward with its product development roadmap with a new Tier-4 liquid fuel injector design and a new partnership with the Department of Energy on High Hydrogen fuels. The company also completed successful testing on its Butane fuel program and implemented cost reductions with respect to the Signature Series products.
     
  • Domestic product orders increased after the Presidential election with the largest orders coming from RSP Systems (“RSP”) and Horizon Power Systems (“Horizon”). During the third quarter, the company shipped a Signature Series C1000 to RSP to be installed in a leading food retailer facility within the New York area.
     
  • Horizon secured a follow-on order for a Signature Series C800, two Signature Series C600s and multiple C65 and C30 microturbines totaling in excess of 2.6 megawatts to be installed in the Mancos and Gallup shale plays, located in the San Juan Basin. This was the largest single oil and gas order the company had received in approximately 11 months.
     
  • The company continued to focus on reducing manufacturing costs, which lowered certain previously negotiated raw material costs for the new Signature Series products, reduced supplier material lead times and increased inventory turns for the third quarter compared to the second quarter and the same period last year.
     
  • The company anticipates that the recovery in oil prices should restart stalled projects in the pipeline, as capital budgets slowly show signs of activity.
     
  • The company continues to see improvement in the Russian market, as BPC Engineering represented 16% of the third quarter revenue as a result of shipping four Signature Series C1000 microturbines. Three of these systems were installed in a greenhouse for a major Belarusian plant growth facility in the Minsk region. To date, the company collected $1.5 million from BPC and the remaining balance of its receivable as of December 31, 2016, was $6.5 million.
     
  • The company sales opportunity pipeline by region increased $172 million, or 22%, to $1.1 billion during the third quarter compared to the prior quarter.

Mr. Jamison concluded, “As a team, we remain firmly focused on shortening our path to profitability by lowering our expenses, growing our product and service revenues, diversifying our business, launching new products, creating new partnerships and managing our balance sheet.”

Financial Highlights for the Third Quarter of Fiscal 2017:

  • Total revenue increased 35% to $20.2 million for the third quarter of fiscal 2017 from $15.0 million for the second quarter of fiscal 2017.
     
  • Service revenue for the quarter was $3.7 million with a service gross margin of 35% and FPP service contract backlog up 19% to $77.2 million compared to same quarter last year.
     
  • Operating expenses decreased 38% for the quarter to $6.1 million compared with $9.9 million in the year-ago third quarter.
     
  • Cash used in the third quarter, excluding net proceeds from equity issuances, deceased to $3.5 million, or 56% lower than the previous quarter. Cash and cash equivalents, including $5 million of restricted cash related to the Wells Fargo credit facility, increased $3.3 million to $19.4 million as of December 31, 2016.
     
  • Inventories as of December 31, 2016 were $16.7 million compared with $22.7 million at the end of the year-ago third quarter, a decrease of $6.0 million.
     
  • Accounts payable and accrued expenses were $12.1 million compared with $21.4 million at the end of the third quarter of fiscal 2016. 
     
  • The company booked product net orders of approximately $11.5 million during the third quarter, for a 0.9:1 book-to-bill ratio, compared with $8.9 million of product net orders received and booked during the second quarter, which was a 1.1:1 book-to-bill ratio.  

Conference Call and Webcast
The company will host a live webcast today, February 9, 2017 at 1:45 PM Pacific Time (4:45 PM Eastern Time) to provide the results of the third quarter of fiscal 2017 ended December 31, 2016. The company will discuss its financial results and will provide an update on its business activities. At the end of the conference call, Capstone will host a question-and-answer session to provide an opportunity for financial analysts to ask questions. Investors and interested individuals are invited to listen to the webcast by logging on to the company's investor relations webpage at http://www.capstoneturbine.com. A replay of the webcast will be available on the website for 30 days.

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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2008 and ISO 14001:2004 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.

This press release contains "forward-looking statements," as that term is used in the federal securities laws, about reducing costs generally, diversifying our business, increasing margins, achieving profitability, the impact of the retrofitting of non-Signature Series C200 microturbines on warranty and FPP expense, the execution by CEF of power purchase agreements, and the impact of the recovery in oil prices on our project pipeline. 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" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

Financial Tables Follow

CAPSTONE TURBINE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share amounts)
(Unaudited)
             
    December 31, 2016   March 31,  2016
Assets            
Current Assets:            
Cash and cash equivalents   $ 14,361     $ 11,704  
Restricted cash     5,009       5,002  
Accounts receivable, net of allowances of $7,050 at December 31, 2016 and $8,909 at March 31, 2016     13,213       13,575  
Inventories     14,732       16,126  
Prepaid expenses and other current assets     3,339       2,636  
Total current assets     50,654       49,043  
Property, plant and equipment, net     2,829       3,537  
Non-current portion of inventories     1,949       2,143  
Intangible assets, net     736       941  
Other assets     234       228  
Total   $ 56,402     $ 55,892  
Liabilities and Stockholders’ Equity            
Current Liabilities:            
Accounts payable and accrued expenses   $ 12,126     $ 13,187  
Accrued salaries and wages     1,430       1,880  
Accrued warranty reserve     4,311       1,639  
Deferred revenue     4,580       4,368  
Revolving credit facility     8,665       9,459  
Current portion of notes payable and capital lease obligations     476       361  
Warrant liability     2,463        
Total current liabilities     34,051       30,894  
Long-term portion of notes payable and capital lease obligations     30       74  
Other long-term liabilities     168       184  
Commitments and contingencies            
Stockholders’ Equity:            
Preferred stock, $.001 par value; 10,000,000 shares authorized; none issued            
Common stock, $.001 par value; 515,000,000 shares authorized, 35,841,462 shares issued and 35,724,994 shares outstanding at December 31, 2016; 23,857,516 shares issued and 23,753,873 shares outstanding at March 31, 2016     36       24  
Additional paid-in capital     870,001       853,288  
Accumulated deficit     (846,245 )     (826,955 )
Treasury stock, at cost; 116,468 shares at December 31, 2016 and 103,643 shares at March 31, 2016     (1,639 )     (1,617 )
Total stockholders’ equity     22,153       24,740  
Total   $ 56,402     $ 55,892  
                 


CAPSTONE TURBINE CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
                         
    Three Months Ended   Nine Months Ended
    December 31,   December 31,
    2016   2015   2016   2015
Revenue:                        
Product, accessories and parts   $ 16,540     $ 18,239     $ 43,841     $ 57,074  
Service     3,645       3,220       10,408       9,270  
Total revenue     20,185       21,459       54,249       66,344  
Cost of goods sold:                        
Product, accessories and parts     21,828       14,979       46,806       48,039  
Service     2,356       2,429       7,772       7,641  
Total cost of goods sold     24,184       17,408       54,578       55,680  
Gross margin (loss)     (3,999 )     4,051       (329 )     10,664  
Operating expenses:                        
Research and development     1,282       2,905       4,254       8,193  
Selling, general and administrative     4,848       7,002       15,631       21,796  
Total operating expenses     6,130       9,907       19,885       29,989  
Loss from operations     (10,129 )     (5,856 )     (20,214 )     (19,325 )
Other expense     (436 )           (480 )     (38 )
Interest income     8             21        
Interest expense     (129 )     (159 )     (392 )     (506 )
Change in fair value of warrant liability     1,777             1,777        
Loss before income taxes     (8,909 )     (6,015 )     (19,288 )     (19,869 )
Provision for income taxes                 3       3  
Net loss   $ (8,909 )   $ (6,015 )   $ (19,291 )   $ (19,872 )
                         
Net loss per common share                        
Basic   $ (0.26 )   $ (0.34 )   $ (0.63 )   $ (1.17 )
Diluted   $ (0.28 )   $ (0.34 )   $ (0.63 )   $ (1.17 )
                         
Weighted average shares used to calculate net loss per common share                        
Basic     34,761       17,824       30,823       16,975  
Diluted     37,947       17,824       30,823       16,975  
                         
CONTACT:

Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

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