Capstone Celebrates Earth Day by Announcing that in Fiscal 2019 Capstone Saved Customers an Estimated $253 Million in Energy Costs and 350,000 Tons of Carbon
VAN NUYS, Calif., April 22, 2019 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq: CPST), the world’s leading clean technology manufacturer of microturbine energy systems, celebrated Earth Day by unveiling its annual estimated end-use customer microturbine financial, environmental and resiliency benefits.
During fiscal year 2019, Capstone saved end-use customers an estimated $253 million in annual energy costs and 350,000 tons of carbon. The fiscal 2019 results demonstrate continued progress in both carbon savings, up 11% from the prior year, and total energy savings, up 30% compared to the prior year, as the company sold more combined heat and power (CHP) systems. A single Capstone cooling, heating and power (“CHP”) system can offer customers an annual energy savings of an estimated 40% while simultaneously lowering their carbon footprint. The company also announced that global microturbine fleet availability declined nominally 0.8% from 96.4% to 95.6% due to a previously announced vendor parts quality issue. However, the company anticipates fleet resiliency to rebound in the current fiscal year as the vendor parts quality issue has been successfully identified and is being mitigated.
“Capstone is committed to improving the efficiency of energy generated around the world, while simultaneously reducing global emissions of pollutants and greenhouse gases. Capstone’s systems help end-users improve their impact on the environment while meeting critical power and reliability needs,” said Darren Jamison, President and Chief Executive Officer of Capstone. “If you like saving money, want to save the planet, or don’t like being left in the dark for prolonged periods of time, you should consider our innovative clean and green energy products and becoming a Capstone customer,” added Mr. Jamison.
“Not only do we enable customers to reduce CO2 and NOx emissions, Capstone applies the same principals to its own environmental footprint and focuses internally on its environmental risks, energy consumption, waste disposal and carbon footprint,” stated Kirk Petty, Capstone’s Senior Vice President of Manufacturing. “We also strive to foster a corporate culture emphasizing lean manufacturing and providing our employees the safest possible work environment. It’s the relationship with our employees, customers and suppliers that matter most and drive our future success,” concluded Mr. Petty.
Earth Day is an annual event celebrated on April 22nd. Worldwide, various events are held to demonstrate support for environmental protection. First celebrated in 1970, Earth Day now includes events in more than 193 countries, which are now coordinated globally by the Earth Day Network.
A brief Earth Day video message from Capstone Turbine: https://spark.adobe.com/video/pS98lqIm5rhQS
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq: CPST) is the world’s leading producer of highly efficient, low-emission, resilient microturbine energy systems. Capstone microturbines serve multiple vertical markets worldwide, including natural resources, energy efficiency, renewable energy, critical power supply, transportation and microgrids. Capstone offers a comprehensive product lineup, providing scalable systems focusing on 30 kWs to 10 MWs that operate on a variety of gaseous or liquid fuels and are the ideal solution for today's distributed power generation needs. To date, Capstone has shipped over 9,000 of these systems into 73 countries logging millions of operating hours.
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,” “believes,” “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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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cb45d42c-2c0c-4cc6-bbe0-54d638e6b158
Released April 22, 2019