Capstone Secures Order for Multiple C65 Microturbines to be Installed at Four Locations in Germany
VAN NUYS, Calif., Aug. 20, 2018 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq: CPST), the world’s leading clean technology manufacturer of microturbine energy systems, announced today it secured an order for six C65 microturbines for four different facilities throughout Germany. E-Quad Power Systems GmbH, Capstone’s distributor in Germany, secured the order and the microturbines are expected to be commissioned over the next several months.
The natural gas-fueled microturbines will be installed in an industrial combined heat and power (CHP) application, at each of the four facilities. One facility will receive three C65s while the remaining three facilities will each receive one unit. The clean and green microturbines will provide on-site CHP that is far more efficient and environmentally beneficial than utility power. Along with low-emissions, the C65 features low noise levels, low maintenance costs, a low carbon footprint and industry-leading reliability.
“Capstone is focused on growing our business in Europe as part of our overall strategy of geographic diversification. Germany continues to be a key market and will provide continued growth in our CHP business,” said Darren Jamison, President and Chief Executive Officer of Capstone. “We had year-over-year revenue growth of 88% in the first quarter of fiscal 2019 for Europe. This was a significant increase and we expect that trend to continue into the second quarter and the remainder of the fiscal year,” added Mr. Jamison.
Two of the six microturbines will support the growing needs of an existing customer with past project success. The repeat customer selected Capstone microturbines for its proven ability to provide clean, flexible and reliable performance. They also selected Capstone because of the high levels of customer support from E-Quad, the local Capstone distributor.
“The German market has been challenging while the renewable energy and CHP regulations have been in flux,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “E-Quad has been able to secure new business in spite of the regulatory hurdles and has developed a significant pipeline of business that will be secured once the regulations have been finalized,” 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 DQS-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.
“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 August 20, 2018