Capstone Continues to Diversify its Business with Project in West African Village
April 10 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 C600S microturbine to provide prime electrical power
for a small community in Mali located in West Africa. The 600kW
Signature Series, dual mode microturbine will provide stand-alone
power, and is the first to be installed in Mali.
Darren Jamison, President and Chief Executive Officer of
Capstone, said, “Our focus continues to be fixed on diversifying
our customer base and geographic presence while increasing our
business in the CHP or energy efficiency markets. Africa is a new
growth market for Capstone and an important part of our strategic
initiative. Since launching the initiative, we have sold products
into South Africa, Nigeria, Algeria, Tunisia and now Mali.”
The customer, KAMA-SA, believes that the application will be
repeated in other cities and villages in West Africa in the near
future. The order is expected to be commissioned in August 2017.
KAMA-SA selected Capstone microturbines because of their ability to
run butane, which is a locally available, economical and
clean-burning fuel. The customer also recognized the advantages of
Capstone’s air bearing technology, which means there is no need for
oil changes, reducing maintenance cost and down time in the remote
location.
“This is another project highlighting Capstone’s ability to meet
the varying needs of our global customer base,” said Jim Crouse,
Capstone’s Executive Vice President of Sales and Marketing. “We
continue to expand our ability to burn a wide variety of fuels,
driving new opportunities around the globe,” added Mr. Crouse.
According to the International Energy Agency (IEA), access to
electricity in Sub-Saharan Africa still lags behind the rest of the
world due to the scarcity of capital and other factors. Economic
growth and living conditions are severely constrained by a lack of
reliable power generation capacity.
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 and our air
bearing technology, diversification of our customer base, expansion
of our geographic presence, and growth in the CHP and energy
efficiency 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
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