Capstone Unveils Several New Products at Annual Meeting of Stockholders
August 31 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 will unveil
several new products along with an updated product development
roadmap at its annual meeting of stockholders. A live webcast of
the meeting will be available today at 10 a.m. PDT on the company
website.
New products include new C200 and C600 Signature Series
microturbine products featuring the same benefits as the recently
launched C1000 Signature Series microturbine. Capstone’s Signature
Series is designed to further penetrate the global CHP markets with
integrated heat recovery, two-stage air filtration, improved
enclosure design, relocated exhaust stacks and 12-year marine grade
paint.
Other product releases include new fuel capabilities, the
development of a new universal control board and a new system
control platform, the continuation of the alumina-forming
austenitic (AFA) materials effort with the U.S. Department of
Energy and an overall cost reduction program for the Signature
Series.
“We are very enthusiastic about the new products, in particular
the ability to run on 100 percent butane, 100 percent ethane, and
synthetic fuels with hydrogen content, which opens up several new
markets,” said Jim Crouse, Capstone’s Executive Vice President of
Sales and Marketing. “In addition, we have released our C65, C200
and C1000 series products to run on fuels with up to 5% percent
high-hydrogen sulfide, which will allow us to run on a broader
range of flare gasses,” added Mr. Crouse.
According to the International Energy Agency (IEA), the global
context for biofuels, including synthetic fuels or “syngas”, is
changing as a result of the significant reduction in crude oil
prices. A considerable rise in global biofuel production is
forecasted in the medium term.
“Capstone’s product development group is doing an excellent job
moving the technology forward despite our approximate 50 percent
reduction in research and development spend year over year,” said
Darren Jamison, Capstone's President and Chief Executive Officer.
“I am very confident that we can deliver significant developments
to our products despite the lower spend associated with our
three-pronged profitability plan. Once we achieve profitability we
will look to increase our development spend and resume our C250 and
C370 development and product launch initiative,” 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 Capstone's
new product development and release plan, C250 and C370 product
development and launch, cost reduction initiatives, global biofuel
production, and future microturbine fuel capabilities.
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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