Capstone Receives Additional Follow-on Order for Australian Coal Seam Gas Company
January 21 2016 - 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 an
additional follow-on order for a large Australian coal seam gas
company.
The initial order in July 2008 was for the supply of 112 C30
microturbines, which was later increased to 154 C30s in 2009. The
first follow-on contract was for 44 C30 microturbines in September
2012, and in January 2013 they ordered 36 additional units,
followed by another 14 units in December 2013. This latest order is
for another 8 units, bringing the total number of microturbines
sold to date to 256. These orders are part of a periodical supply
contract for the life of the coal seam development project.
“The coal seam gas market continues to develop as coal seam
operators convert this gas into clean on-site power generation,"
said Darren Jamison, Capstone's President and Chief Executive
Officer. "It’s rewarding to see satisfied repeat customers continue
to come back and add to their already large fleets of operating
microturbines. In addition, Australia has been a key geographical
focus for Capstone, similar to Latin America, Africa and the Middle
East," added Mr. Jamison.
Optimal Group, Capstone’s Australian distributor, secured the
latest follow-on order, which is currently scheduled to be
commissioned in mid-2016. In Australia, coal seam gas is plentiful.
Coal seam gas has been known about ever since the coal mining
industry began in Australia in the early 1900s. With advances in
technology, it has developed into a key transition fuel, helping to
lower Australia's carbon emissions as the country moves to a lower
carbon future.
"Optimal Group’s business in Australia continues to expand in
oil and gas, coal seam gas and the combined heat and power markets.
In fact, they are currently our second largest distributor in terms
of revenue generation over the trailing four quarters," said Jim
Crouse, Capstone's Executive Vice President of Sales and Marketing.
“I am confident that Australia will deliver substantial growth
year-over-year and help offset slowdowns in other geographies,”
added Mr. Crouse.
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
over 8,600 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 coal seam 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
INVESTORS:
Dian Griesel Int’l
Cheryl Schneider/Tom Caden
212-825-3210
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