CAPSTONE GREEN ENERGY ANNOUNCES VINCE CANINO AS ITS PRESIDENT AND CHIEF EXECUTIVE OFFICER
Argonne National Laboratory and Capstone Turbine Receive U.S. DOE Commercialization Funds for Thermal Energy Storage Technology
VAN NUYS, Calif., Oct. 18, 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 U.S. Department of Energy’s (DOE’s) Argonne National Laboratory and Capstone have received funding from the DOE Technology Commercialization to refine Argonne’s high-efficiency, fast-charging and fast-discharging thermal energy storage system (TESS) for use in combined heat and power (CHP) systems.
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According to Argonne Principal Investigator, Dileep Singh, “Storing thermal energy and using it during periods of high electricity pricing can result in significant cost savings. This is particularly important for process/manufacturing industries and building applications, as it reduces costs and increases energy efficiency.”
The new Capstone CHP system will incorporate Argonne’s high-efficiency, fast-charging, and fast-discharging thermal energy system for waste heat recovery and reuse in projects that require process heat and industrial manufacturing environments.
The TESS system is essentially a “thermal battery” developed originally for storing heat in concentrated solar power applications. Argonne’s TESS incorporates a phase change material in a high thermal conductivity porous preform, resulting in a composite material system that has enhanced thermal performance. One of TESS’s most valuable features is its tunability for specific applications through the selection of appropriate phase change material. Additionally, TESS’s high thermal energy density results in a small footprint similar to the Capstone microturbine technology.
This new project focuses on integrating Argonne’s TESS into a Capstone C200 CHP system, specifically, using thermal modeling and simulations to optimize system design; fabricating and integrating the TESS into the C200 system; testing the performance of the integrated TESS-C200 CHP system and conducting both a technology and economic analysis to establish performance and cost benefits of the new integrated microturbine and thermal battery solution.
“There are a variety of developments that are driving the evolution of the CHP market, including new resilient on-site energy products, improvements in packaged CHP systems, new utility CHP programs, and the ability of CHP to work with other complementary technologies including battery and thermal energy storage,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “Cost-effective thermal energy storage will further reduce customers’ energy costs and increases overall CHP system efficiency,” added Mr. Jamison.
About Argonne National Laboratory
Argonne National Laboratory seeks solutions to pressing national problems in science and technology. The nation’s first national laboratory, Argonne conducts leading-edge basic and applied scientific research in virtually every scientific discipline. Argonne researchers work closely with researchers from hundreds of companies, universities, and federal, state and municipal agencies to help them solve their specific problems, advance America’s scientific leadership and prepare the nation for a better future. With employees from more than 60 nations, Argonne is managed by UChicago Argonne, LLC for the U.S. Department of Energy's Office of Science.
The U.S. Department of Energy's Office of Science is the single largest supporter of basic research in the physical sciences in the United States and is working to address some of the most pressing challenges of our time. For more information, visit the Office of Science website.
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.
For more information about the company, please visit www.capstoneturbine.com. Follow Capstone Turbine on Twitter, LinkedIn and YouTube.
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,” “believe,” “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.
CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com
Integra Investor Relations
Shawn M. Severson
415-226-7747
cpst@integra-ir.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c8069449-124e-4b3b-9c88-5a2423852aaf
https://www.globenewswire.com/NewsRoom/AttachmentNg/f1fce0ba-6f7d-4818-bc08-6fd42c37b4c7
Released October 18, 2018
