Capstone Secures Direct Drying Project for Italian Wood Chip and Wood Flour Manufacturer
CHATSWORTH, Calif., Sept. 11, 2017 (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 C600S microturbine to power and serve the wood drying process for a manufacturer of wood chip and wood flour for the zootechnical sector in Northeast Italy.
IBT Europe GmbH, one of Capstone’s Italian distributors, secured the order, which is estimated to be commissioned in January 2018. Capstone microturbines were selected for the associated cost reductions due primarily to their ability to connect seamlessly with existing industrial process systems.
“Being the first reference in Europe of a direct exhaust application for the wood flour industry, it’s a very important project for us,” said Ilario Vigani, IBT Europe GmbH’s Chief Executive Officer. “It plays a strategic role as a forerunner in the configuration of Capstone’s oil-free natural gas microturbines in direct fumes applications used in specific industrial drying processes.”
“It is always meaningful to penetrate a new niche market with your new flagship product and is particularly encouraging to see our recent upturn in project opportunities start to translate into new product orders,” said Darren Jamison, Capstone’s President and Chief Executive Officer.
The Capstone C600 Signature Series microturbine will be installed in a combined heat and power (CHP) configuration and operate on liquefied natural gas. In addition to powering the manufacturing facility, the direct exhaust from the microturbine will connect with the existing wood drying system, boosting overall efficiency.
“As the U.S. dollar weakens, we are seeing a noticeable improvement in the number of opportunities within the European power generation sector,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “With direct drying applications, in particular, businesses can achieve energy efficiency levels greater than 80 percent while simplifying the installation and maximizing return on investment,” 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 over 9,000 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 9001:2015 and ISO 14001:2015 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 and Asia.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of our signature series product offerings, expansion into the CHP market, and increases in opportunities in the power generation sector. 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.
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Released September 11, 2017