Capstone Secures New $10 Million Credit Facility
CHATSWORTH, Calif.-- Capstone Turbine Corporation (www.microturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, today announced that it has entered into a revolving credit facility with Wells Fargo Business Credit, an operating division of Wells Fargo Bank, National Association.
"As we discussed in our last earnings call, this credit facility will assist us in meeting the demands of our growing business," said Darren Jamison, Capstone's President and Chief Executive Officer. "We are pleased that our business gives us the ability to raise capital in today's equity and credit markets."
"Obtaining a credit facility with Wells Fargo was very important to us. We are impressed by their banking fundamentals and look forward to building a long term relationship that grows with our business," stated Edward Reich, Capstone's Executive Vice President and Chief Financial Officer.
About Capstone Turbine
Capstone Turbine Corporation (www.microturbine.com) (NASDAQ:CPST) is the world's leading producer of low-emission microturbine systems, and was the first to market commercially viable microturbine energy products. Capstone Turbine has shipped over 4,000 Capstone MicroTurbine(R) systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone Turbine is a member of the U.S. Environmental Protection Agency's Combined Heat and Power Partnership, which is committed to improving the efficiency of the nation's energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO 9001:2000 and ISO 14001:2004 certified company; Capstone Turbine is headquartered in the Los Angeles area with sales and/or service centers in New Jersey, New York, Mexico City, Milan, Nottingham, Shanghai and Tokyo.
"Capstone Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about intentions relating to future financings and growth of business. 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.
Source: Capstone Turbine Corporation
Released February 9, 2009