DOE Funds Argonne National Lab to Test Capstone Microturbines with Hydrogen and Synthetic Fuels
October 20 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 the U.S.
Department of Energy (DOE) will provide funding in the amount of
$335,000 for one year to Argonne National Laboratory to conduct
hydrogen and synthetic fuel (“syngas”) testing on Capstone’s C65
and C200 microturbines.
In October 2015, Capstone partnered with Argonne National
Laboratory, a science and engineering research facility that is
managed by UChicago Argonne, LLC for the DOE’s Office of Science,
for participation in the DOE’s Technologist in Residence (TIR)
program. Since then, Capstone and Argonne have explored new focus
areas to advance the adoption of low-emission, high-efficiency
power solutions. The additional funding from the DOE will help to
drive Capstone’s hydrogen and syngas fuel product offering to
market and promote further research and development efforts.
“It is very exciting to take a proposed project as part of the
TIR program and turn it into a project that will move our
technology into new markets,” said Tony Lorentz, Director of
Product Development and PMO at Capstone Turbine. “Our partnership
with Argonne National Lab and the Energy Department has been a
great success and continues to yield exciting new opportunities,”
added Mr. Lorentz.
“The TIR program has been an excellent platform to work
one-on-one with industry and to bolster industry involvement with
the national lab enterprise. This team effort has the potential to
expand in other areas of research and development,” said Munidhar
Biruduganti, a Principal Research Engineer and the Argonne
technologist for the TIR program.
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
adoption of low-emission, high-efficiency power solutions; the
advancement of hydrogen and syngas fuel product offerings, and the
expansion of Capstone’s technology into new markets.
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
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