Repeat Oil and Gas Customer to Receive First Capstone C600 Signature Series Three Bay Package Microturbine
March 20 2017 - 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 secured an
order for a C600 Signature Series microturbine to power a natural
gas compression station in southern Wyoming. This is the first
order for a three bay package C600S microturbine, which has a
smaller footprint and is lighter than the previous five bay
package.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/0e8cef91-4f4f-4521-afa0-b3db1660c8c1
Horizon Power Systems, Capstone’s oil and gas distributor for
the Eagle Ford, Permian, Barnett, Mancos, San Juan, and Wattenberg
Shale plays, secured the order, which is expected to ship in the
next few weeks and be commissioned in September 2017. This customer
continues to buy Capstone microturbines for their low maintenance
and ability to provide reliable power in remote locations.
“The oil, gas and other natural resources market continues to be
an important market vertical for Capstone as we strive to improve
our vertical market diversification with a goal of 40% oil,
gas and other natural resources, 40% energy efficiency and
20% renewable energy and critical power applications,” said Darren
Jamison, Capstone’s President and Chief Executive Officer. “Last
quarter oil, gas and other natural resources comprised 38% of
revenue with energy efficiency coming in at 53% and renewable
energy and critical power representing 9%,” added Mr. Jamison.
The dual mode C600S microturbine will be fueled by natural gas
from a nearby pipeline and provide primary power to the compression
station. Although Capstone has smaller units running statewide, the
larger 600kW microturbine will be the first to be installed in the
state of Wyoming.
According to the U.S. Energy Information Administration (EIA),
Wyoming supplies more energy to other states and has more federal
oil and natural gas leases than any other state. Wyoming produced
6.2 percent of the nation’s marketed natural gas in 2015, and
continues to stand as one of the top 10 natural gas producing
states in the United States.
“We are seeing a steady increase in our global oil and gas
business,” said Jim Crouse, Capstone’s Executive Vice President of
Sales and Marketing. “Repeat oil and gas customers like this help
to solidify Capstone’s position as the microturbine market leader
and the preferred go-to power solution in the recovering oil and
gas market. The new three bay enclosure is a nice new benefit as
customers across all our market verticals enjoy smaller and lighter
packages that are less costly to ship and easier to install,” 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 9,000 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
9001:2015 and ISO 14001:2015 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 and Asia.
This press release contains "forward-looking statements," as
that term is used in the federal securities laws, about the
advantages and improvements related to Capstone’s Signature Series
product offerings, the improvement of Capstone’s market
diversification, and the increase of our CHP applications and sales
into the recovering oil and gas 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.
The photo is also available at Newscom, www.newscom.com, and via
AP PhotoExpress.
CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com
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