Capstone Ships First C1000 Signature Series Microturbine to Europe
July 13 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 recently
shipped its first C1000 Signature Series microturbine to Europe.
The order for a C1000S microturbine will upgrade a refractory
material manufacturing facility in Slovenia. In addition, the
company previously announced its first C600 Signature Series
microturbine sale in Italy for the Italian pasta maker Il Pastaio
di Maffei S.&C. Snc. (Maffei).
Laibach d.o.o, Capstone’s distributor for Slovenia and Croatia,
secured the C1000 Signature Series order. With help from the
facility’s management, Laibach conducted a thorough analysis of the
facility and determined that a one-megawatt system was the
preferred solution. The power plant, which is owned and operated by
an energy services company (ESCO) in Slovenia, will allow the
customer to secure significant energy savings going forward.
Capstone microturbines were selected for their high efficiency and
immediate impact on project economics.
“It’s a great achievement to ship our first C1000 Signature
Series product to Europe and I’m proud that Laibach will have the
first installation as they have done a tremendous job representing
Capstone products in Slovenia,” said Darren Jamison, Capstone's
President and Chief Executive Officer.
The natural gas-fueled C1000S microturbine will be installed in
a combined heat and power (CHP) application to produce primary
power and, by utilizing the clean exhaust, be used to direct dry
the refractory material during the manufacturing process. The
one-megawatt microturbine will operate in a grid connect
configuration at over 90 percent system efficiency, which will
limit the site’s grid reliance and reduce the facility’s impact on
the environment.
“It’s challenging when you introduce a significant new product
offering and you have to seamlessly transition from the legacy
product to the new product in a very tight window. Capstone
employees really stepped up and delivered despite the approximately
70 different Signature Series discrete product changes. I am very
excited about the increased level of teamwork, transparency and
accountability we are developing as a company after the recent
organizational changes and reduction in force,” added Mr.
Jamison.
According to the U.S. Energy Information Administration’s (EIA)
International Energy Outlook for 2016, natural gas and electricity
are the fastest-growing forms of industrial energy use in terms of
industrial fuel use in the OECD region. Each energy source has been
increasing by about 0.7% per year since 2012, providing significant
growth opportunity for Capstone microturbines.
“This will serve as Capstone’s third project of its size in
Slovenia and one that supports the company’s growing market share
in the construction material market,” said Jim Crouse, Executive
Vice President of Sales and Marketing at Capstone. “The thermal
energy captured from the microturbine exhaust will ensure the CHP
plant is operating at maximum efficiency,” 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 8,800 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 United States, Latin America, Europe,
Middle East, China and Singapore.
This press release contains "forward-looking statements," as
that term is used in the federal securities laws, about the
advantages of our CHP applications, market growth in Europe and
growth in the construction materials 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
212-825-3210
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