Capstone to Power Commercial Facility in the U.K. with Bundled Cogeneration Solution
VAN NUYS, Calif., March 12, 2018 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today an order for a C200S integrated combined heat and power (iCHP) microturbine for a commercial facility in the United Kingdom. The order was placed under Capstone’s new “Sell-to-Win” bundled solutions program and includes a Capstone supplied integrated roof mounted heat recovery module (HRM) and a prepaid 5-year factory protection plan (FPP). Pure World Energy, Capstone’s distributor for the United Kingdom, secured the order.
“This order is significant as it is one of the first under our new bundled solutions program which is designed to improve customer project economics and drive increased adoption rates,” said Darren Jamison, President and Chief Executive Officer of Capstone. “The new bundled solutions program is designed to drive an increase in accessory sales and aftermarket service revenue. In addition, as the program expands it will positively impact working capital and quarterly cash flows,” added Mr. Jamison.
The commercial facility required an efficient and cost-effective energy solution to provide onsite power. Rather than rely on the expensive local utility, they selected a natural gas-fueled Capstone microturbine deployed in a combined heat and power (CHP) solution. The thermal energy from the exhaust of the microturbine is captured and converted into space heating and hot water for the building. In this configuration, the overall efficiency exceeds 80%, providing a more reliable and economical solution than the local utility. The microturbines are also very quiet, minimizing the noise impact to the surrounding neighborhood.
According to the International Energy Agency (IEA), the United Kingdom has set a long-term carbon emissions reduction goal of 80% by 2050. For example, participants in the CRC Energy Efficiency Scheme will surrender emissions allowances on the basis of fuel used, thereby favoring the use of high-efficiency technologies such as CHP. Capstone microturbines provide the ideal solution towards this goal, allowing businesses to take advantage of this policy while simultaneously reducing operating expenses and helping the environment.
“The adoption of highly efficient cogeneration solutions continues to be a growing trend throughout the world,” said Jim Crouse, Executive Vice President of Sales and Marketing of Capstone. “Capstone is proud to have been pioneers in this trend and expects to continue to be at the forefront of the proliferation of distributed generation technologies,” concluded 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. 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.
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Released March 12, 2018