Repeat Order from a Leading Midstream Corporation Leveraging Capstone’s Megawatt Scale Solution for Remote Pipeline Compression Facility
VAN NUYS, Calif., April 29, 2019 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq: CPST), the world’s leading clean technology manufacturer of microturbine energy systems, today announced it has received another repeat order for a megawatt scale C1000 Signature Series low emission microturbine system that will be used to power a compression station in the Mid-Atlantic, United States.
This order was secured by E-Finity Distributed Generation, Capstone’s exclusive distributor for the Mid-Atlantic Southeast United States and Eastern Caribbean. Ideal for natural gas producers looking for scalable solutions, the C1000S can provide reliability and redundancy in a single compact package. Additionally, the microturbine exhaust will be used in the customer’s dehydration process, improving the overall efficiency of the gas compression site.
“We continue our significant permeation of the North American shale gas market with another megawatt win to an existing customer,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “North American shale gas producers are continuing to adopt Capstone microturbines because they want the high reliability and low emission benefits afforded by our products,” Mr. Crouse added.
“The energy market continues to strengthen for Capstone worldwide as oil demand is holding up better than many experts predicted last fall,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “That demand, combined with the recent OPEC supply cuts and U.S. sanctions on Iran and Venezuela are leaving the market with less ability to absorb supply disruptions,” added Mr. Jamison.
According to the U.S. Energy Information Administration, dry natural gas production will increase 7% reaching an average 91 billion cubic feet per day (Bcf/d) during 2019. Furthermore, natural gas production is forecasted to grow in 2020 to an average of 92.5 Bcf/d.
“The continued natural gas infrastructure build-out in the Mid-Atlantic region is driving a shift from centralized utility power to energy-efficient CHP systems. We expect to see significant market growth over the next several years in the decentralized commercial and industrial CHP space,” said Jeff Beiter, E-Finity’s Managing Partner. “This system will also be covered under a Capstone Factory Protection Plan or FPP once it is commissioned,” added Mr. Beiter.
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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Shawn M. Severson
Released April 29, 2019