Capstone Applauds the Introduction of American Microturbine Manufacturing and Clean Energy Deployment Act - H.R. 4428
April 11 2014 - 8:30AM
Capstone Turbine Corporation (www.capstoneturbine.com)
(Nasdaq:CPST), the world's leading clean technology manufacturer of
microturbine energy systems, applauds the introduction of the
American Microturbine Manufacturing and Clean Energy Deployment Act
H.R. 4428 in the House of Representatives by Congresswoman Linda
Sanchez (CA-39).
"I'm proud to sponsor legislation that builds on the great
American tradition of innovation and manufacturing. It promotes
investment in the clean energy economy and will help our country
create new high-paying jobs," said Congresswoman Sanchez. "It also
protects our communities by reducing air pollution and greenhouse
emissions. Microturbine technology is an efficient thermal energy
and clean electrical power source, and it's about time for it to
join solar power and wind power in the national conversation for
clean energy solutions."
The American Microturbine Manufacturing and Clean Energy
Deployment Act would provide a 30% investment tax credit for
microturbines, providing parity with tax incentives offered to fuel
cells and renewable technologies. Microturbines are highly
efficient engines with low emissions that supply clean,
distributed, uninterrupted power. Unlike traditional
reciprocating engines, Capstone microturbines use an air bearing,
eliminating the need for lubricants or coolants. Microturbines
can help improve the resiliency of critical facilities in the case
of grid failure. Overall energy efficiency of microturbines
can reach 90%, surpassing many traditional power generation
options. Capstone recently received a certificate from the US
Environmental Protection Agency Combined Heat and Power Partnership
recognizing the role Capstone's microturbine technology has had in
removing more than 3 million metric tons of carbon dioxide with
cogeneration projects alone. This award further highlights and
quantifies the clean and green impact of Capstone
microturbines.
H.R. 4428 promotes investment in clean energy while
simultaneously helping create American jobs. Microturbine
technology was invented in the United States where the overwhelming
majority of the world's microturbines are manufactured
today. By advancing smart tax policy and regulations to help
businesses expand and grow, H.R. 4428 would enable American
microturbine producers to triple their domestic manufacturing. The
bill will also eliminate the project size restriction placed on
microturbines in the current tax code, opening the door to larger
deployment opportunities.
"Capstone is the world's leading manufacturer of clean
microturbine energy systems. We are proud to have the
sponsorship of Congresswoman Sanchez in her continued support of
American manufacturing, clean energy, and energy efficiency," said
Darren Jamison, President and CEO of Capstone Turbine
Corporation. "With the greater majority of microturbines being
manufactured in the United States, H.R. 4428 will help grow the
domestic market for microturbines. If this bill is successful,
a greater number of American businesses will achieve energy
independence with high efficiency, driving down operating costs and
helping make their core business more competitive."
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 the effects
of the American Microturbine Manufacturing and Clean Energy
Deployment Act on our business. 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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