Capstone Secures Orders for 3.2MW of New Signature Series Microturbine Packages
CHATSWORTH, Calif., Jan. 06, 2016 (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 C1000 Signature Series microturbine packages totaling 3.2 Megawatts.
E-Finity Distributed Generation, Capstone’s distributor for the Mid-Atlantic and Southeastern United States, secured the order, which is expected to ship over the next two fiscal quarters. The fleet of microturbines in E-Finity’s territory has grown substantially in recent years to more than 400 units in both energy efficiency applications and oil and gas operations.
“I am pleased to see such strong demand for the new Signature Series microturbine we recently launched at PowerGen International in Las Vegas," said Darren Jamison, Capstone's President and Chief Executive Officer. "We anticipate shipping the first Signature Series packages starting in mid-February," added Mr. Jamison.
“The continued natural gas infrastructure build-out in the Mid-Atlantic region is driving a shift from centralized utility power to energy-efficient CHP systems. We expect to see significant market growth over the next several years in the decentralized commercial and industrial CHP space,” said Jeff Beiter, E-Finity’s Managing Partner.
The natural-gas-fueled microturbines will provide primary power to on-site equipment at multiple feeder sites in the Marcellus and Utica shale regions. Each microturbine is modular and can be expanded in the future to accommodate increased site loads. Capstone and E-Finity were selected for their superior technology, technical application engineering and aftermarket support capabilities.
“The expansion of our global distribution sales team has strengthened our position in key market verticals and geographies,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. “These orders are proof of the growing acceptance of our technology as the preferred alternative to the local utility grid,” 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 Turbine has shipped over 8,600 Capstone Microturbine 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 9001:2008 and ISO 14001:2004 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the New York Metro Area, United Kingdom, Mexico City, Shanghai and Singapore.
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This press release contains "forward-looking statements," as that term is used in the federal securities laws, about growth of key markets and the advantages of our Signature Series product. 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 email@example.com INVESTORS: Dian Griesel Int’l Cheryl Schneider/Tom Caden 212-825-3210
Released January 6, 2016