Capstone Secures 8MW of Orders for Multiple Projects in Indonesia and Malaysia
April 11 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
multiple orders totaling eight C1000 Signature Series microturbines
for projects in Indonesia and Malaysia.
Serba Dinamik, Capstone’s distributor for Indonesia, Malaysia
and Brunei, will own and operate the installations, operating the
microturbines as power plants for their customers. The power
generated at each installation will be sold to their customers at
the national feed-in tariff of the respective country. The sites
are expected to be commissioned in stages beginning in late
2016.
The natural gas-fueled C1000S microturbines will be installed in
combined heat and power (CHP) and combined cooling, heat and power
(CCHP) applications, so that the microturbines will provide heating
and cooling services in addition to electricity. The projects,
which include large scale shopping centers and multi-unit
residential buildings and hotels, will utilize the microturbines as
their primary source of onsite electrical and thermal power. When
deployed in a CHP/CCHP application, the microturbines can reach
total system efficiency levels in excess of 80%, making it the most
clean, efficient and cost efficient power generation option
available. Additionally, the minimal maintenance and reduced
operating costs were major contributing factors for selecting
Capstone technology for these projects.
Darren Jamison, President and Chief Executive Officer of
Capstone, said, “We have identified Asia as one of our strategic
growth markets along with Mexico, South America, Eastern Europe,
Australia and the Middle East. Indonesia and Malaysia provide
considerable growth opportunities in industrial CHP and
CCHP.”
“The concentrated efforts on improving our geographical
diversification are a key strategic initiative and part of our
overall three-pronged business recovery and profitability plan. We
are pleased to see that our sales and marketing efforts continue to
mature and bear fruit and are resulting in significant new bookings
from within our targeted new growth areas,” added Mr. Jamison.
According to the U.S. Energy Information Administration (EIA),
Indonesia is reorienting its energy production from serving
primarily export markets to meeting its growing domestic
consumption, especially with its abundance of natural gas.
Malaysia’s domestic electricity demand is also expanding, which has
created a high demand for diversified power generation capacities
countrywide to avoid power shortages.
“Serba Dinamik is making significant strides to further
establish itself as a leading power retailer in Southeast Asia,”
said Jim Crouse, Executive Vice President of Sales and Marketing at
Capstone. “Capstone’s new Signature Series microturbine is gaining
recognition around the globe, and we anticipate even more projects
of this size from the region,” 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 has shipped
approximately 8,700 Capstone Microturbine systems to customers
worldwide. These award-winning systems have logged millions of
documented runtime operating hours. Capstone 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 Capstone products and CHP/CCHP applications, the
market growth in CHP and CCHP in Indonesia and Malaysia, and
strategic growth markets around the world. 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
212-825-3210
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