Capstone Receives Multiple Orders Totaling 6.4MW from E-Finity for Marcellus and Utica Shale Plays
January 09 2014 - 8:30AM
Capstone Turbine Corporation (www.capstoneturbine.com)
(Nasdaq:CPST), the world's leading clean technology manufacturer of
microturbine energy systems, announced today it recently received
multiple orders from E-Finity Distributed Generation for
microturbines to be used for oil and gas operations in the
Marcellus and Utica Shale regions.
E-Finity Distributed Generation, Capstone's exclusive oil and
gas distributor for the Marcellus and Utica Shale plays, has
secured multiple orders totaling 6.4MW of electric power. The
orders came from two of their current customers and two new
customers.
"It is great to see that as the regional shale gas production
grows, more and more customers are turning to Capstone for their
power solution needs. They are finding value in our quiet,
scalable, and reliable microturbines," said Jeff Beiter, Managing
Partner for E-Finity.
One of E-Finity's current customers is expanding an existing gas
transmission station in Pennsylvania, a 2011 EPA Energy Star Award
site. The combined heat and power (CHP) system consisting of
three C65 ICHP units will be replaced with a Capstone C800 Power
Package and a heat recovery system producing 4 million BTUs of hot
water. The hot water will be used for heating fuel gas for the
compressors and building heat, alleviating the need for ancillary
equipment traditionally used for this process.
Another repeat customer of E-Finity, an E&P and transmission
company operating in West Virginia and Pennsylvania, purchased
multiple C1000 Power Packages to replace aging reciprocating
engine-driven generators, reducing the overall footprint of the
power generation equipment in their existing facilities.
A third order came from a major midstream company and new
customer to Capstone and E-Finity. They selected a C800 low
emission power package as the three-phase power source for a new
compression facility. The microturbines will significantly
reduce site emissions generated from traditional generators and
allow the customer to increase continuous onsite power production
without needing additional air permitting. Due to the construction
schedule and location, utility grid power was not an
option. The customer has indicated they are going to
standardize on Capstone for their West Virginia operations.
"We continue our remarkable penetration of the North American
shale gas market with another six megawatts from new and existing
customers," said Darren Jamison, Capstone President and Chief
Executive Officer. "North American shale gas producers are
continuing to adopt Capstone microturbines because they want the
high reliability and low emission benefits of our products,"
Jamison added.
"The oil and gas market continues to be our fastest growing
market worldwide," said Jim Crouse, Capstone's Executive Vice
President of Sales and Marketing. "From the Eagle Ford, Marcellus
and Utica shale plays in the United States to the oil fields of
Russia, Capstone microturbines are becoming the go-to power source
for producers that want extremely reliable and low emission onsite
power solutions."
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com)
(Nasdaq:CPST) is the world's leading producer of low-emission
microturbine systems and was the first to market commercially
viable microturbine energy products. Capstone Turbine has shipped
approximately 7,000 Capstone Microturbine systems to customers
worldwide. These award-winning systems have logged millions of
documented runtime operating hours. Capstone Turbine is a member of
the U.S. Environmental Protection Agency's Combined Heat and Power
Partnership, which is committed to improving the efficiency of the
nation's energy infrastructure and reducing emissions of pollutants
and greenhouse gases. A UL-Certified ISO 9001:2008 and ISO
14001:2004 certified company, Capstone is headquartered in the Los
Angeles area with sales and/or service centers in the New York
Metro Area, Mexico City, Nottingham, Shanghai and Singapore.
The Capstone Turbine Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6212
This press release contains "forward-looking statements," as
that term is used in the federal securities laws, about the growth
of the oil and gas market and the advantages of our products.
Forward-looking statements may be identified by words such as
"expects," "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.
CONTACT: Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com
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