Capstone Distributor RSP Systems Secures a Follow-On 1 MW Order with Brookfield Properties Manhattan West in the Heart of the New York City Hudson Yards District
VAN NUYS, CA / ACCESSWIRE / October 31, 2019 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that RSP Systems (RSP), Capstone's exclusive distributor for Connecticut and New York (The Bronx, Brooklyn, Long Island, Manhattan, Queens, Staten Island and Westchester County), has secured a follow-on order for a second Capstone Turbine C1000S Signature Series microturbine with a Factory Protection Plan (FPP) for a grid-connect combined heat and power (CHP) project at Manhattan West's South East Tower in the Hudson Yards District. This order follows the recent installation of a Capstone Turbine C1000S with CHP and FPP on the 56th floor of the Manhattan West North East Tower earlier this year.
According to Brookfield Properties, Manhattan West is a seven-acre mixed-use development located in the heart of Manhattan's Hudson Yards district. Situated by Ninth and Tenth Avenues, as well as West 31st and West 33rd Streets, Manhattan West is the vital link between the Midtown business district, the Penn Station complex, the gateway to the Hudson Yards district, and the north end of Chelsea. The project consists of two 2-million-square-foot office towers, a residential tower with 844 units, 225,000 square feet of retail and dining amenities, and two acres of public open space.
This second 1 megawatt (MW) microturbine is scheduled to be installed within two years; after which, the clean and green natural gas Signature Series C1000S microturbine will baseload electrical and thermal energy demand, saving the facility an estimated high six figures per year. RSP will provide long-term service support under the Capstone FPP program, which provides fixed costs for all service, further underpinning the energy savings.
"We are very excited to have secured this second 1 MW follow-on order that will be installed in the Manhattan West South East Tower," said Bruce Beckwith, RSP's Executive Vice President. "Having successfully earned the trust of one of the world's largest REIT's, Brookfield Properties, and more importantly, gained a satisfied repeat customer by evidence of this latest order is a testament to the performance and reliability of the Capstone microturbines in the CHP market," added Mr. Beckwith.
"Brookfield Properties' progressive vision selecting RSP and Capstone Turbine is expected to result in reliable on-site power generation backed by our innovative FPP, that is low in emissions and reduces their overall carbon footprint for such a magnificent New York City mixed-used project," said Darren Jamison, Capstone's President and Chief Executive Officer. "In today's world, we are seeing more utility grid power outages, and customers are not settling for the ‘new normal' of simply accepting power outages and are taking control of their power options," added Mr. Jamison. "Capstone microturbines systems are a reliable, efficient, low emission solution that customers can continue to count on for 24x7 power resiliency," concluded Mr. Jamison.
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 has 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 October 31, 2019