Capstone Receives 1MW Order for District Heating Application in Northwest Italy
CHATSWORTH, Calif., May 17, 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 a C1000 Signature Series microturbine to upgrade a local district heating facility in Northwest Italy.
IBT Group, Capstone’s Italian distributor, secured the order, which is expected to be commissioned in November 2016.
The natural gas-fueled C1000S microturbine will be installed in a combined heat and power (CHP) application to produce primary power and superheated water at over 80 percent efficiency. The 1MW microturbine will operate in dual mode, which allows customers to operate independently of, or with, the grid in a load sharing capacity.
The facility, which is located at an elevation of 2,000 meters, is owned and operated by an energy service company (ESCO) based in Genoa, Italy. Capstone microturbines were selected for their low emissions, backup power capabilities as well as their ability to operate efficiently at higher elevations.
According to the U.S. Energy Information Administration (EIA), Italy’s economy has one of the highest CHP potentials among major European economies leading up to 2030.
“As the European market strengthens, IBT Group continues to secure high-profile orders from organizations looking to reduce their emissions and energy costs,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. “There is a great deal of opportunity for Capstone in Italy, especially in the energy efficiency space,” 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 8,800 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.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of Capstone’s CHP applications and its potential market growth in Italy. 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 firstname.lastname@example.org INVESTORS: Dian Griesel Int’l Cheryl Schneider 212-825-3210
Released May 17, 2016