CAPSTONE GREEN ENERGY ANNOUNCES VINCE CANINO AS ITS PRESIDENT AND CHIEF EXECUTIVE OFFICER
Award Winning Capstone CHP Installation Surpasses 700,000 Operating Hours
VAN NUYS, Calif., Jan. 29, 2018 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that the installation at Masonic Village in Elizabethtown, Pennsylvania has surpassed 700,000 operating hours.
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Opened in 1910, Masonic Village is a 1,400-acre complex consisting of a continuing-care retirement community, children’s home, and community service organization. When the village needed to update their old coal-burning plant with a more efficient and reliable solution, they turned to Capstone microturbines. In 2002, five natural gas-fueled Capstone C60 microturbines with third-party heat recovery modules were installed in a combined heat and power (CHP) configuration to provide the electrical and thermal solution for the facility.
E-Finity Distributed Generation, Capstone’s exclusive Mid-Atlantic and Southeastern distributor, took over the site in 2007. Utilizing the Capstone product developments at the time, they upgraded the array from C60s to C65s, increasing the electrical output by 25 kilowatts (kW) and boosting the thermal efficiency by 47%. Masonic Village expanded their microturbine array by adding a sixth C65 with an integrated heat recovery module in 2011 to accommodate their growing energy needs. E-Finity has been overseeing and maintaining the Masonic Village installation since 2007 with the Capstone Factory Protection Plan (FPP).
The installation recently exceeded 700,000 total operating hours, with one of the C65 microturbines surpassing 135,000 hours alone. The microturbines have produced over 130,000-megawatt hours (MWh) of electrical and thermal energy, which is capable of powering 14,500 homes per year. The system has also helped Masonic Village reduce their carbon footprint by over 3,000 tons, generating carbon savings equivalent to eliminating 27 million miles driven by an average passenger vehicle.
“The Masonic Village installation truly sets our microturbine technology apart from other power generation technologies as I do not see a similar sized internal combustion engine or fuel cell having this type of reliability and longevity,” said Darren Jamison, President and Chief Executive Officer of Capstone. “I understand that end-use customers like to focus on project first costs but what they really should focus on is overall system reliability, efficiency, uptime and length of continuous duty operation as that has much more impact on project economics and environmental benefits, not to mention operational resiliency,” added Mr. Jamison.
Masonic Village is the recipient of the 2007 EPA CHP Partner Focus Award and is a final nominee for the 2018 EPA ENERGY STAR CHP Award for its continued highly efficient performance and significant ongoing environmental benefit.
“Capstone microturbines are long-term assets, designed to last in excess of 20 years,” said Jeff Beiter, Managing Partner of E-Finity Distributed Generation. “Having approximately 17 years of continuous operation, Masonic Village is a testament to the longevity and reliability of Capstone technology. It is achievements such as this that clearly set Capstone microturbines apart within their own industry as leading class technology,” concluded Mr. Beiter.
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.
Forward-Looking Statements
This press release contains "forward-looking statements," as that term is used in the federal securities laws. 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/61239d30-45e0-4065-b236-756a3e7cc9ab
CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com
Released January 29, 2018
