Capstone Distributor to Deliver 1.6MW Power Plant to Offshore Platform in California
August 10 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
received an order for a C1000 Signature Series microturbine and a
C600 Signature Series microturbine for an oil and gas platform off
the coast of California.
Regatta Solutions, Capstone’s distributor in California, secured
the order, which is expected to be commissioned in December 2016.
The customer chose Capstone microturbines for their price
performance, proven reliability and experience in difficult
offshore platform environments. Capstone microturbines also meet
the local South Coast Air Quality Management District (AQMD) Best
Available Control Technology (BACT) emissions level requirements,
which helps to streamline the air emissions permitting process.
“This order is reflective of the efficiency optimization
initiatives we are starting to see from our oil and gas clients who
are focused on reducing their operations costs while simultaneously
protecting the environment,” said Steven Acevedo, President and
Chief Executive Officer of Regatta Solutions.
The associated gas-fueled C1000S and C600S microturbines will be
installed in a combined heat and power (CHP) application and
operate using the onsite associated gas stream to relieve the
flaring requirement for the platform. Hot water, produced from the
microturbine exhaust, will provide heating for the production
process to reduce additional energy needs. The microturbines will
provide power to site loads, lowering operating costs for the end
customer.
“Despite the prolonged two-year slump in the energy industry,
oil and gas producers are starting to look for creative ways to
reduce their operational costs and meet increasingly stringent
flaring requirements, which is positive for our business,” said
Darren Jamison, President and Chief Executive Officer at Capstone.
“Capstone is able to leverage its demonstrated success in the oil
and gas market and deliver low-cost, highly reliable energy
solutions to oil and gas operations around the world,” added Mr.
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 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 and sales into the oil and gas
industry. 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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