Capstone Secures First Signature Series Order in Portugal for Textile Mill CHP Project
VAN NUYS, Calif., March 27, 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 C600 Signature Series microturbine to provide combined heat and power (CHP) to a Portuguese textile mill. Micropower Europe, Capstone’s distributor for Portugal and Spain, secured the order.
The textile mill required an increase in their production capacity and sought an efficient solution for their plant expansion. Rather than import more power from the local utility at extremely high rates, they considered breaking away from the unstable and overpriced utility by becoming part of the global distributed generation (DG) energy revolution.
A natural gas-fueled Capstone C600S microturbine provides the ideal solution for the textile mill by generating clean and green electricity on-site. The thermal energy from the exhaust is used in a direct-fire application in one of the processes at the textile mill, making their production more efficient while significantly reducing their operating expense.
According to the European Commission, European Union (EU) exports to the rest of the world represent more than 30% of the world market, with total revenues of 177 billion euros. The EU is one of the largest textile exporting regions in the world, with Italy, Germany, Spain, France and the Netherlands the leading countries in the clothing industry in the EU.
“This project is a blueprint for other textile mills all over Europe, paving the way for others to improve their bottom line with microturbines,” said Darren Jamison, President and Chief Executive Officer of Capstone. “Every high profile CHP project in a new market or geography is another straw on the electric utilities back and at some point in the near future, I believe we will wake up to a new energy reality where clean and efficient on-site CHP, behind the meter, is the new world norm,” added Mr. Jamison.
According to the International Energy Agency (IEA), Portugal renewed their CHP Directive in 2015 that focused on the promotion of cogeneration based on useful heat demand. It aims to increase energy efficiency and security of supply by creating a framework for the promotion and development of high-efficiency cogeneration projects based on useful heat demands and primary energy savings.
With hundreds of CHP installations around the world, Capstone is at the forefront of the DG movement, helping empower businesses to break free from the local utility and take control of their energy resiliency, emissions and operating costs. Additionally, Capstone microturbines have industry-leading emissions levels and are one of the most environmentally friendly methods to produce on-site power in the world – meeting and exceeding the emission standards for Portugal and the EU.
“The CHP market in Spain and Portugal have been depressed for several years, it is good to see the dedication of our distributor beginning to pay off,” said Jim Crouse, Executive Vice President of Sales and Marketing of Capstone. “We expect this to be the first of many new projects to come from the region,” 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. 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 27, 2018