Capstone Turbine Receives Follow-On Order for Fifteen C65s from Horizon Power Systems for U.S. Shale Oil and Gas Customers
January 29 2015 - 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 an order for fifteen C65 microturbines for shale oil and
gas customers in the United States.
Horizon Power Systems, Capstone's exclusive oil and gas
distributor for the Eagle Ford, Permian, Barnett, Mancos, San Juan,
and Wattenberg Shale plays, secured the order to support the
continued success in the U.S. shale oil and gas market, despite the
recent oil price decline. The order will serve various facets of
the shale oil and gas production process including the powering of
central processing stations, metering stations, well-head
operation, and flare reduction.
According to the U.S. Energy Information Administration's (EIA)
2014 Annual Energy Outlook, a significant growth in demand for
liquefied natural gas has led to the prediction that the U.S. will
become a net exporter of natural gas in just a few years. The
growth in demand for natural gas enables oil and gas producers to
invest in more efficient and environmentally-friendly power
generation solutions, strengthening the market from within.
With oil, gas, and other natural resources serving as Capstone's
largest market segment, shale plays have become a major focus going
into 2015. By providing top shale oil and gas operations with
ultra-low emission, low maintenance, and reliable microturbines,
they are able to operate more efficiently and for longer periods of
time than typical reciprocating engine generators. This helps to
solidify Capstone's position as the preferred option for new and
repeat oil and gas customers.
Capstone microturbines can be used in all phases of oil and gas
production including upstream, midstream, and downstream operations
in both onshore and offshore applications. Since many of these
operations are situated in remote locations, Capstone microturbines
align perfectly with the needs of oil and gas businesses to ensure
they are successful in bringing natural gas to market.
"Stability and reliability are key selling factors as we
continue to penetrate the U.S. oil and gas shale markets, and we
hope to continue to grow our business by expanding our Capstone
market share even in a tight natural resource market," said Sam
Henry, President of Horizon Power Systems. "Capstone microturbines
continue to become a preferred power generation option for oil and
gas producers that want a stable and reliable solution to optimize
their on-site performance and reduce operational costs," added
Henry.
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 8,000 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
advantages of our products and the growth of the oil and gas
market. 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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