Capstone Secures Additional Orders in Germany as CHP Market Continues to Expand
VAN NUYS, Calif., Sept. 28, 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 additional orders for two C65s and a C200R microturbine. These orders are in addition to orders received last month for six C65 microturbines for four different facilities throughout Germany. E-Quad Power Systems GmbH, Capstone’s distributor in Germany, secured the orders and all nine microturbines are expected to be commissioned over the next several months.
The clean and green microturbines will provide on-site combined heat and power (CHP) that is far more efficient and environmentally beneficial than utility power. Along with low-emissions, the C65 and C200R feature low noise levels, low maintenance costs, a low carbon footprint and industry-leading reliability.
Germany gives distributed generators access to the electricity grid through standardized technology and gives CHP and renewable generators higher priority when grid operators are deciding which power plant to run. Germany requires utilities to purchase CHP-generated electricity at the higher cost of average alternative generators rather than the actual generation cost.
CHP is an efficient and clean approach to generating electric power and useful thermal energy from a single fuel source. Instead of purchasing electricity from the distribution grid and burning fuel in an on-site boiler to produce thermal energy, an industrial or commercial facility can use CHP to provide both energy services in one energy-efficient step.
While CHP has been in use in some form or another for more than 100 years, it remains an underutilized resource today. Nevertheless, the outlook for the increased use of CHP in Germany is bright as German policymakers are beginning to recognize the potential benefits of CHP and the role it could play in providing clean, reliable, cost-effective energy services to industry and businesses.
“Capstone is focused on growing our business in Europe as part of our overall strategy of geographic diversification,” said Darren Jamison, President and Chief Executive Officer of Capstone.
“The overall German market has been challenging the last couple of years while the renewable energy and CHP regulations have been in flux,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “I am very pleased with the recent success of E-Quad and look forward to the continued expansion of the German CHP and renewable energy markets,” 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 “believes,” “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 September 28, 2018