Capstone Secures Follow-On Order From Dutch Distributor for International Oil and Gas Producer
March 09 2016 - 7:46PM
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 two C65 High Humidity Package microturbines at
an offshore oil and natural gas production platform in the
Netherlands.
Capstone microturbines were selected for their proven
reliability in the field and superior product engineering. The
customer, a large international oil and natural gas producer,
selected Capstone microturbines again because of their demonstrated
ability to reliably provide uninterrupted power in challenging
environments. Seven Turbine Power BV, Capstone’s Dutch distributor,
secured the order, which is expected to be commissioned later this
year.
The Netherlands is the second-largest producer and exporter of
natural gas in Europe and is home to Europe’s largest natural gas
trading hub in terms of spot volumes, according to the U.S. Energy
Information Administration (EIA).
“This order is significant for a number of reasons. First, it
further illustrates the growing trend of orders from new
distributors in diverse geographical areas. Second, it continues
the string of follow-on orders from satisfied end-use customers.
And third, it shows continued success in the oil and gas market,
despite the heavy macroeconomic headwinds caused by record low
crude oil prices,” said Darren Jamison, President Chief Executive
Officer at Capstone Turbine.
Two natural gas-fueled C65 microturbines, designed specifically
for off shore environments, will provide primary power to the
platform facility and on-site equipment. Unplanned outages can cost
thousands, or even millions, of dollars in lost revenue. The
microturbines allow for continuous operation, ensuring very high
uptime. Additionally, Capstone microturbines require significantly
less maintenance than other technologies such as reciprocating
engines, which means operational costs are lower. Oil and gas
companies across the globe rely on Capstone microturbines for
reliable power to their business and to maximize their
operations.
“Oil and gas production requires the best and most reliable
technologies, which is why customers choose Capstone,” said Jim
Crouse, Executive Vice President of Sales and Marketing at Capstone
Turbine. “Fortunately, these demanding requirements are easily met
by Capstone’s rugged, low-maintenance microturbine technology,”
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 approximately 8,700 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, the market growth in the Netherlands,
possible future sales in the oil and gas market, the trend of sales
from new distributors and the growth of sales to existing
customers. 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
Capstone Turbine (NASDAQ:CPST)
Historical Stock Chart
From Mar 2024 to Apr 2024
Capstone Turbine (NASDAQ:CPST)
Historical Stock Chart
From Apr 2023 to Apr 2024