Capstone Receives Order to Upgrade Maffei Pasta Factory in Southeast Italy
CHATSWORTH, Calif., May 31, 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 C600 Signature Series microturbine for the Italian pasta maker Il Pastaio di Maffei S.&C. Snc. (Maffei).
IBT Group, Capstone’s Italian distributor, secured the order, which is expected to be commissioned in December 2016.
“Forward looking executives at companies such as Maffei are increasingly looking at ways to improve operating results while simultaneously reducing their air emissions and total carbon footprint,” said Darren Jamison, President and Chief Executive Officer at Capstone. “This is our second significant order from IBT Group this quarter and demonstrates the strengthening of the European market and continued growth of CHP applications worldwide,” added Mr. Jamison.
The natural gas-fueled C600S microturbine will be installed in a combined heat and power (CHP) application to produce primary power and 3 tons of saturated steam per hour using a co-fired steam boiler. The 600kW microturbine will operate in a grid connect configuration at over 80 percent system efficiency, which will significantly lower the site’s grid reliance and reduce the company’s carbon footprint.
Situated in Southeast Italy, family-owned pasta maker Maffei has been making pasta since 1960 and is now a globally recognized brand. Working directly with IBT Group, Maffei selected Capstone microturbines for their ability to efficiently produce saturated steam for pasta production and their ability to be easily expanded to a C1000 to support larger energy loads in the future.
“We are proud to have found in Capstone products the same values that Maffei (http://www.pastaiomaffei.it) have always believed in: high quality, environmental respect, complete reliability and commitment to customers,” said Savino Maffei, President at Maffei. “With Capstone technology we will reduce CO2 emissions of over 400 tons per year and we will reach over 200 TOE/year of primary energy savings,” added Mr. Maffei.
According to the U.S. Energy Information Administration (EIA), Italy is the fourth largest energy consumer in Europe, after Germany, France and the United Kingdom. As a net importer of crude oil and natural gas, Italy is heavily dependent on imports to meet its energy needs.
“We are thrilled to see our microturbines supporting family-owned businesses like Maffei. Steam-based microturbine CHP is a perfect application for food manufacturing as it simultaneously reduces costs and maximizes operational efficiency,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone.
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 United States, Latin America, Europe, Middle East, China and Singapore.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the growth and advantages of Capstone’s CHP applications and the market growth in Europe. 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 May 31, 2016