Capstone Secures 8MW of Orders for Multiple Projects in Indonesia and Malaysia
CHATSWORTH, Calif., April 11, 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 multiple orders totaling eight C1000 Signature Series microturbines for projects in Indonesia and Malaysia.
Serba Dinamik, Capstone’s distributor for Indonesia, Malaysia and Brunei, will own and operate the installations, operating the microturbines as power plants for their customers. The power generated at each installation will be sold to their customers at the national feed-in tariff of the respective country. The sites are expected to be commissioned in stages beginning in late 2016.
The natural gas-fueled C1000S microturbines will be installed in combined heat and power (CHP) and combined cooling, heat and power (CCHP) applications, so that the microturbines will provide heating and cooling services in addition to electricity. The projects, which include large scale shopping centers and multi-unit residential buildings and hotels, will utilize the microturbines as their primary source of onsite electrical and thermal power. When deployed in a CHP/CCHP application, the microturbines can reach total system efficiency levels in excess of 80%, making it the most clean, efficient and cost efficient power generation option available. Additionally, the minimal maintenance and reduced operating costs were major contributing factors for selecting Capstone technology for these projects.
Darren Jamison, President and Chief Executive Officer of Capstone, said, “We have identified Asia as one of our strategic growth markets along with Mexico, South America, Eastern Europe, Australia and the Middle East. Indonesia and Malaysia provide considerable growth opportunities in industrial CHP and CCHP.”
“The concentrated efforts on improving our geographical diversification are a key strategic initiative and part of our overall three-pronged business recovery and profitability plan. We are pleased to see that our sales and marketing efforts continue to mature and bear fruit and are resulting in significant new bookings from within our targeted new growth areas,” added Mr. Jamison.
According to the U.S. Energy Information Administration (EIA), Indonesia is reorienting its energy production from serving primarily export markets to meeting its growing domestic consumption, especially with its abundance of natural gas. Malaysia’s domestic electricity demand is also expanding, which has created a high demand for diversified power generation capacities countrywide to avoid power shortages.
“Serba Dinamik is making significant strides to further establish itself as a leading power retailer in Southeast Asia,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone. “Capstone’s new Signature Series microturbine is gaining recognition around the globe, and we anticipate even more projects of this size from the region,” 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 8,700 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 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 Capstone products and CHP/CCHP applications, the market growth in CHP and CCHP in Indonesia and Malaysia, and strategic growth markets around the world. 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 212-825-3210
Released April 11, 2016