Capstone Turbine to Power Industrial CHP/CCHP Energy Efficiency Projects in Mexico
CHATSWORTH, Calif., Jan. 27, 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 two C1000 microturbines for CHP/CCHP projects for two industrial facilities in Mexico.
Darren Jamison, President and Chief Executive Officer of Capstone Turbine, said, “Mexico has become our second largest market behind the United States over the last year and continues to provide strong growth opportunities, specifically in the industrial CHP market vertical.”
“Improving our geographic diversification is a key strategic initiative and our efforts are resulting in significant new bookings from areas that include Mexico, Latin America, Eastern Europe Australia and China. Concurrently, the CHP energy efficiency market vertical continues to grow and is starting to offset the downturn we have been experiencing in the oil and gas market vertical,” added Mr. Jamison.
DTC Ecoenergía, Capstone’s distributor in Mexico, secured the orders, which will be commissioned later this year. Capstone microturbines were selected for the operational cost savings they will bring the customer, which is expected to exceed 50 percent.
“The market environment for cogeneration makes it an ideal solution for the Mexican industrial sector,” commented Alejandro Muńoz, President of DTC Ecoenergía.
One microturbine will be installed in a combined heat and power (CHP) application in an industrial facility. The second microturbine will be installed in a combined cooling, heat and power (CCHP) application to generate reliable electricity as well as produce hot and chilled water at the industrial facility. Additionally, the natural gas-fueled microturbines will help reduce emissions at each facility, making them more environmentally friendly.
As of 2014, independent generators, or Productores Independientes de Energía, held about 12.9GW of generation capacity in Mexico, consisting mostly of combined-cycle, natural gas-fired turbines, according to the U.S. Energy Information Administration (EIA).
“Privately owned generators are playing a much larger role in Mexico’s electricity supply,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. “Mexico’s recent energy reform legislation has made Capstone’s innovative technology an even more attractive solution as it allows these organizations to produce their own energy at a fraction of the cost from the utility,” 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 the advantages of our products, growth of the combined heat and power and combined cooling, heat and power markets and growth of the market in Mexico. 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.
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CONTACT: Capstone Turbine Corporation Investor and investment media inquiries: 818-407-3628 firstname.lastname@example.org INVESTORS: Dian Griesel Int’l Cheryl Schneider/Tom Caden 212-825-3210
Released January 27, 2016