Capstone Turbine (NASDAQ:CPST) Executes 1.17 MW FPP Long-Term Service Contract Renewal for Critical Data Center in Connecticut
VAN NUYS, CA / ACCESSWIRE / May 13, 2020 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that RSP Systems, the Capstone exclusive distributor for non-oil and gas markets in New York, Connecticut and Ohio (www.rsp-systems.com), signed a new Factory Protection Plan (FPP) long-term service contract renewal for 1.17 megawatts (MW) of Capstone microturbines installed at a critical data center in Connecticut.
The innovative Capstone FPP enables customers to have predictable and stable maintenance costs for up to twenty years and protects customers from future cost increases associated with changes in replacement spare parts pricing, commodity price increases, import tariffs and interest rate changes.
The eighteen C65 Capstone microturbines were originally commissioned back in July 2009 and were immediately placed under Capstone's industry-leading FPP product providing 10-years of complete service coverage, including scheduled and unscheduled maintenance. The recently signed FPP renewal will provide service coverage on the microturbines for an additional five years. The data center uses the Capstone microturbines for 24x7 electrical & thermal generation, and they are configured in Capstone Dual Mode, making them capable of providing back-up power to critical loads in the event of a grid outage.
"This FPP renewal, after 10-years of successful operation, demonstrates the significant reliable life of Capstone's microturbines when supported under our comprehensive long-term service contract from a top Capstone Distributor like RSP," stated Jeff Foster, Capstone's Senior Vice President of Customer Service and Product Development. "Additionally, we are very pleased to see continuing business activity in the Northeast United States, even as the global economy and this region have been dramatically impacted as a result of the unfortunate COVID-19 pandemic," added Mr. Foster.
"We are delighted to highlight both a very satisfied long-term customer of the Capstone technology and the outstanding work of our distributor, RSP Systems," stated Darren Jamison, President and Chief Executive Officer of Capstone Turbine Corporation. "We are quite happy, given the uncertain times in today's business environment, that a data center customer with critical availability needs has chosen to continue operations with the peace of mind that only products like Capstone's unique FPP service contracts can produce," 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, via our direct sales team, as well as our global distribution network. Capstone provides scalable solutions from 30 kWs to 10 MWs that operate on a variety of fuels and are the ideal solution for today's multi-technology distributed power generation projects.
For customers with limited capital or short-term needs, Capstone offers rental systems, for more information contact: firstname.lastname@example.org. To date, Capstone has shipped nearly 10,000 units to 73 countries and in FY19, saved customers an estimated $253 million in annual energy costs and 350,000 tons of carbon.
For more information about the company, please visit www.capstoneturbine.com. For information on sales contact: email@example.com or firstname.lastname@example.org. Follow Capstone Turbine on Twitter, LinkedIn, Instagram, and YouTube.
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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SOURCE: Capstone Turbine Corporation
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Released May 13, 2020