Capstone Microturbines Successfully Lifted onto the 3rd Tallest Building in the Western Hemisphere as New York Looks to Reduce Carbon Emissions 40% Over the Next Decade
VAN NUYS, CA / ACCESSWIRE / September 26, 2019 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that two Capstone C600 Signature Series microturbines were successfully lifted onto the 56th floor of the new One Vanderbilt skyscraper which is a 67-floor building on the corner of 42nd Street and Vanderbilt Avenue in Midtown Manhattan, New York City.
The highly efficient, low emission microturbines will help increase the new skyscraper's overall energy efficiency while simultaneously lowering the carbon emissions as the microturbines power the third tallest office building in the Western Hemisphere. The iconic building was proposed by New York City Mayor, Bill de Blasio, and developer, SL Green Realty, as part of a planned Midtown East rezoning. The tower stands immediately to the west of Grand Central Station Terminal and was designed to be the tallest building in Midtown and second highest in New York City. The skyscraper is expected to achieve Leadership in Energy and Environmental Design (LEED) Gold Certification.
One Vanderbilt, a new 67-floor New York skyscraper on 42nd and Vanderbilt Avenue
Capstone microturbine being lifted onto the 56th floor in Midtown, Manhattan
Back in April this year, New York City Mayor, Bill De Blasio, announced that he wants to reduce carbon emissions in buildings by 40% over the next decade. However, Capstone and its exclusive New York City distribution partner RSP Systems have previously been working for years with leading developers like SL Green and Related Properties on the One Vanderbilt project and the Hudson Yards redevelopment effort to lower carbon emissions by designing and installing Capstone microturbines to reach the highest levels of LEED certification.
According to the Green Building Council, LEED is an internationally recognized green building certification system, providing third-party verification that a building or community was designed and built using strategies aimed at improving performance across metrics including energy savings, water efficiency, CO2 emissions reduction, improved indoor environmental quality, and stewardship of resources and sensitivity to their impacts.
Mayor De Blasio recently stated that energy efficiency for buildings in New York City is critically important if the goals of the Paris climate accords are to be met. A fossil-fueled vehicle may last for a decade or more, but New York buildings will endure for a century or more, which means new ones must be made as energy efficient as possible and older structures must be retrofitted to be made more energy efficient.
"Developing and constructing buildings using the LEED practices provides building owners a quantifiable framework for identifying and implementing cost-effective, practical, achievable and measurable green building design, construction, operations and maintenance solutions," said Darren Jamison, Capstone's President and Chief Executive Officer.
"Microturbines are a practical and cost-effective way to help building owners reduce their CO2 emissions and lower energy costs while simultaneously solving resiliency issues from utility power outages," added Mr. Jamison. "This is not some expensive unrealizable green aspiration, but a straightforward real-world building approach to meet environmental and sustainability goals," noted Mr. Jamison.
LEED provides a point system to score green building design and construction. The system is categorized in five basic areas; Sustainable Sites, Water Efficiency, Energy and Atmosphere, Materials and Resources, and Indoor Environmental Quality. Buildings are awarded points based on the extent various sustainable strategies are achieved. The more points awarded, the higher the level of certification achieved from Certified, Silver, Gold, to Platinum.
"Our biggest challenge in accelerating microturbine adoption is customer education and brand awareness," says Jim Crouse, Executive Vice President of Sales and Marketing for Capstone. "Our installations at the Lotte Palace Hotel, Kings County Hospital, Fresh Direct, Memorial Sloane Kettering and NYU are great, and these new installations at Hudson Yards and now at the iconic One Vanderbilt will go a long way in bolstering our New York City sales and marketing efforts," concluded Mr. Crouse.
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 units to 73 countries and have saved customers an estimated $253 million in annual energy costs and 350,000 tons of carbon.
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.
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Released September 26, 2019