Capstone Ships First C1000 Signature Series Microturbine to Europe
CHATSWORTH, Calif., July 13, 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 recently shipped its first C1000 Signature Series microturbine to Europe. The order for a C1000S microturbine will upgrade a refractory material manufacturing facility in Slovenia. In addition, the company previously announced its first C600 Signature Series microturbine sale in Italy for the Italian pasta maker Il Pastaio di Maffei S.&C. Snc. (Maffei).
Laibach d.o.o, Capstone’s distributor for Slovenia and Croatia, secured the C1000 Signature Series order. With help from the facility’s management, Laibach conducted a thorough analysis of the facility and determined that a one-megawatt system was the preferred solution. The power plant, which is owned and operated by an energy services company (ESCO) in Slovenia, will allow the customer to secure significant energy savings going forward. Capstone microturbines were selected for their high efficiency and immediate impact on project economics.
“It’s a great achievement to ship our first C1000 Signature Series product to Europe and I’m proud that Laibach will have the first installation as they have done a tremendous job representing Capstone products in Slovenia,” said Darren Jamison, Capstone's President and Chief Executive Officer.
The natural gas-fueled C1000S microturbine will be installed in a combined heat and power (CHP) application to produce primary power and, by utilizing the clean exhaust, be used to direct dry the refractory material during the manufacturing process. The one-megawatt microturbine will operate in a grid connect configuration at over 90 percent system efficiency, which will limit the site’s grid reliance and reduce the facility’s impact on the environment.
“It’s challenging when you introduce a significant new product offering and you have to seamlessly transition from the legacy product to the new product in a very tight window. Capstone employees really stepped up and delivered despite the approximately 70 different Signature Series discrete product changes. I am very excited about the increased level of teamwork, transparency and accountability we are developing as a company after the recent organizational changes and reduction in force,” added Mr. Jamison.
According to the U.S. Energy Information Administration’s (EIA) International Energy Outlook for 2016, natural gas and electricity are the fastest-growing forms of industrial energy use in terms of industrial fuel use in the OECD region. Each energy source has been increasing by about 0.7% per year since 2012, providing significant growth opportunity for Capstone microturbines.
“This will serve as Capstone’s third project of its size in Slovenia and one that supports the company’s growing market share in the construction material market,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone. “The thermal energy captured from the microturbine exhaust will ensure the CHP plant is operating at maximum efficiency,” 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 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 advantages of our CHP applications, market growth in Europe and growth in the construction materials market. 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 July 13, 2016