Fortune 500 Manufacturer Selects Capstone Signature Series Microturbines for Large 5MW CHP Project
April 05 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
initial order for five C1000S Signature Series microturbines to
enhance the overall energy efficiency of a large manufacturing
facility in Tennessee.
The customer, a U.S. Fortune 500 manufacturing
company, will adopt the ultra-clean energy technology as part of
their overall corporate sustainability initiative. E-Finity
Distributed Generation, Capstone’s distributor for the Mid-Atlantic
and Southeastern U.S., secured the order, which is expected to be
commissioned by November 2017.
“Our recently launched C1000S Signature Series
product is targeted directly at CHP, and this order is significant
as it furthers our strategic efforts to better diversify our market
verticals, as energy efficiency is a big growth market for us both
in the U.S. and globally,” said Darren Jamison, Capstone’s
President and Chief Executive Officer. “We have hit a lot of
singles and doubles in the CHP market with our new Signatures
Series product, but a 5MW order from a world class manufacturing
company is a home run to straightaway centerfield,” added Mr.
Jamison.
The five natural gas-fueled C1000 Signature Series
microturbines will be installed in a combined heat and power (CHP)
application and operate in dual mode, with the ability to be
expanded to six units in the future. Clean waste heat from the
microturbine exhaust will be directly used in an industrial drying
process. Capstone microturbines were selected for their high
reliability, low emissions, and total system efficiency.
“We are extremely excited to see greater
recognition of the benefits that CHP offers customers and look
forward to a continued increase in market growth using an abundance
of affordable clean-burning natural gas,” said Jim Bondi,
E-Finity’s Executive Vice President.
“We are seeing the U.S. CHP market really start to
solidify with more renewed spending in both new constructions and
building retrofits,” said Jim Crouse, Capstone’s Executive Vice
President of Sales and Marketing. “Energy efficiency customers are
realizing the benefits of low-emission CHP and turning to
technologies like ours to reduce their operational costs and become
more sustainable and competitive in a global economy,” added Mr.
Crouse.
According to the U.S. Energy Information
Administration (EIA), the decline in natural gas prices has led to
a steady increase in the use of natural gas for power generation in
the Mid-Atlantic region.
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 of our Signature Series product offerings,
advantages of our products in CHP applications, diversification of
our market verticals, and growth in the energy efficiency 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
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