Capstone Turbine Secures Follow-On Order for Additional Sections of the Los Ramones Pipeline Project in Mexico
February 10 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 received a
follow-on order for five C800 microturbines for another phase of
the Los Ramones pipeline project in Northeastern Mexico.
In addition to this order, Industrias Energetícas, Capstone's
distributor in Mexico, secured the initial order for the pipeline
project in December 2014, which consisted of six C800 microturbines
and sixteen C30 microturbines.
Considered to be the backbone of Mexico's natural gas system,
the Los Ramones pipeline project is part of the Mexican Energy
Reform, designed to improve the gas supply in the central part of
the country. The first phase of the pipeline will be approximately
114 km in length and provide a capacity of 2,100 MMcfd, and the
second phase will be approximately 740 km in length with a capacity
of 1,430 MMcfd.
Five C800 high-pressure natural gas microturbines will supply
power to two compression stations. The microturbines will act as
the primary energy source for these remote sites and require
minimal maintenance. This ensures a steady and reliable flow of
power to the stations while keeping emissions low. Capstone
microturbines align perfectly with the needs of oil and gas
producers and can be used in all phases of production including
upstream, midstream, and downstream operations in both onshore and
offshore applications.
"With a free-market energy policy in place, natural gas
development in Mexico is poised for substantial growth," said Juan
Carlos Hernandez, President of Industrias Energetícas. "Capstone
microturbines were the clear choice for providing power to this
multi-billion dollar project where reliability is critical," added
Hernandez.
"The follow-on order helps to further solidify Capstone
microturbines as a preferred solution for oil and gas producers,"
said Darren Jamison, President and Chief Executive Officer of
Capstone Turbine. "As I outlined in our February 5, 2015 earnings
call, Mexico is becoming a significant market for Capstone products
as a result of the Mexican Energy Reform. I also outlined on the
call how I believed that Capstone's previous awards positioned us
well for the future phases of the project," added Jamison.
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 growth of
the oil and gas market in Mexico. 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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