Capstone Receives 5.2MW in Orders From New Middle East and Africa Distributor
May 05 2014 - 8:30AM
Capstone Turbine Corporation (www.capstoneturbine.com)
(Nasdaq:CPST), the world's leading clean technology manufacturer of
microturbine energy systems, announced today that it recently
received multiple orders from its new distributor Electro Mecanique
Industries (EMI) for two flare reduction projects.
The initial 5.2MW of orders secured by EMI will be utilized in a
flare reduction capacity. The Capstone microturbines will burn the
associated gas that is currently being flared in order to reduce
emissions and provide on-site power generation for the local oil
and gas operations.
When petroleum crude oil is extracted and produced from onshore
or offshore wells, raw natural gas is brought to the surface as
well. This is especially true in remote areas of the world that
lack pipelines and other gas transportation infrastructure. These
vast amounts of associated gas are typically flared as waste gas,
which many believe adds to global warming. "The practice of
flaring associated gas has a significant environmental impact and
presents an ever increasing problem as oil and gas production
levels continue to rise," said Darren Jamison, Capstone President
and Chief Executive Officer.
According to the GGFR (Global Gas Flaring Reduction)
Partnership, an estimated 150 billion cubic meters (or 5.3 trillion
cubic feet) of natural gas are being flared annually. To put
this in perspective, that is equivalent to 25% of the gas
consumption in the U.S. just being released in to the atmosphere
and not utilized.
"Capstone is committed to its role in environmental stewardship
as a clean and green company and will continue to work with
companies across the world to reduce the practice of gas flaring in
an effort to be more ecofriendly and responsible. The best solution
to the flare gas problem is to capture this gas from the wells and
use it in the production process," added Jamison.
Capstone microturbines are a perfect solution in this respect,
utilizing flare gas to provide clean and reliable on-site power in
an environmentally friendly way. Capstone microturbines are not
only efficient and clean but also do not require any lubricants or
coolants and have minimal maintenance time when compared to
traditional reciprocating engines.
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
environmental advantages of our products and use of our products in
flare reduction projects. 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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