Capstone Secures First Order in Oman for Oil & Gas Production
July 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 that it received its
first order in Oman from PipeLine Supply Company, the distributor
for Oman and Qatar.
The end use customer, Consolidated Contractors Energy
Development (CCED), chose Capstone microturbines because of their
perfect fit in flare gas to power roles. Capstone microturbines can
run on various fuels, including associated gas or flare gas. This
gas is a byproduct of the oil extraction process that is often
burned off, or flared. The Capstone microturbines utilize this
gas to generate clean and green power for their
operations. Instead of wasting this free fuel, CCED has
simultaneously improved operational efficiency and reduced
operational costs by utilizing this associated gas. They have
also eliminated the need to truck diesel out to the middle of the
desert, further reducing their costs.
Additionally, Capstone microturbines have the added benefits of
their reliable and rugged design, low emissions, and low
maintenance cost. Deployed in the middle of the desert, CCED
required a solution that could withstand the harsh and isolated
environment with minimal maintenance, ensuring their operations
remain functional. With longer maintenance intervals than its
competitors and no need for lubricants or coolants, Capstone
microturbines were the perfect fit.
The order, consisting of two Capstone C65 High Pressure Natural
Gas (HPNG) microturbines, was secured by PipeLine Supply Company,
Capstone's exclusive distributor for Oman and Qatar. According
to Shanly George, General Manager of Pipeline Supply Company, "CCED
is a dynamic young oil company which is on an aggressive growth
path in developing their oilfield concession area in
Oman. CCED was quick in recognizing the wisdom in using a
wasted resource, i.e. associated gas, to generate power instead of
flaring it. Based on the successful installation,
commissioning, and evaluation of the Capstone microturbine units,
CCED will decide on their future course of action with regards to
more widespread use of stranded gas for power generation."
Jim Crouse, Executive Vice President of Sales and Marketing at
Capstone, added, "Flaring of associated gas is significant in this
region. We are excited about this order as it will allow us to
showcase Capstone technology and allow our distributor to get a
foothold in the emerging flare gas market in the Middle
East."
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 reduced
costs, the environmental advantages and reliability of our products
and the use of our products in the oil and gas market in the Middle
East. 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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