Capstone Receives Orders for Approximately Four Megawatts From E-Finity for Multiple Oil and Gas Customers
March 18 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.
The Marcellus natural gas shale play, which encompasses 104,000
square miles and stretches across Pennsylvania and West Virginia,
and into southeast Ohio and upstate New York, is the largest source
of natural gas in the United States. Gas production in the
Marcellus shale play was still growing rapidly in 2013. The
Marcellus is an example of shale gas trapped in low-permeability
shale and requires the well completion method of hydraulic
fracturing to allow the gas to flow to the well bore.
The Utica Shale lies under most of New York, Pennsylvania, Ohio,
and West Virginia and extends under adjacent parts of Kentucky,
Maryland, Tennessee, and Virginia as well as Ontario and Quebec in
Canada.
E-Finity Distributed Generation, Capstone's exclusive oil and
gas distributor for the Marcellus and Utica Shale plays, secured
the nearly 4MW of orders from two of their current customers and
one new customer.
One of the repeat customers is once again turning to Capstone
and E-Finity to power two of their compressor stations in West
Virginia. Each compressor station will have two C600 Capstone Power
Packages, providing both primary and backup power. The customer
again selected Capstone's clean-and-green technology due to its
continuous duty rating and the low emission levels and the lesser
maintenance requirements of the product. The customer has also
selected coverage offered by Capstone's Factory Protection Plan,
which will provide 24/7, year-round maintenance for their
turbines.
Another follow-on customer of E-Finity, a major midstream
company, selected a C800 power package as the three-phase power
source for a new compression facility. The C800 will provide the
site with primary power, with a spare engine for spinning reserve.
The microturbines will significantly reduce 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 remote location,
the utility grid power was not a viable or cost effective
option.
The third order came from a new customer who has embarked on a
venture to create a midstream system to move wet gas from the Utica
Shale in Ohio to processing facilities along the Ohio River in West
Virginia. After much evaluation of the operating costs, emissions
output, and maintenance schedule, the customer selected four
Capstone C65s to operate a new compressor station and six
additional C65s to operate three interconnect sites where gas will
enter the wet gas system. These turbines will provide the sole
electrical power onsite, providing electricity to condensate pumps,
heat tracing, and onsite lighting loads.
"The Capstone microturbine product has been the first choice for
recent new and existing customers and is being selected due to its
proven ability to provide reliable power for the natural gas and
oil industry," said Jeff Beiter, Managing Partner for E-Finity.
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, United
Kingdom, Mexico City, 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 use of our
products in the oil and gas industry. 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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