Capstone Secures 2MW CHP Project for Kuwait Institute for Scientific Research
April 26 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 received an
order for two C1000 Signature Series microturbines to provide
distributed power for two Kuwait Institute for Scientific Research
(KISR) facilities in Kuwait City, Kuwait. The project is expected
to be commissioned in July 2017.
“This project will demonstrate an effective approach to supply
the rapidly expanding new cities in the GCC (Gulf Cooperation
Council) region with an efficient and practical solution that can
meet the growing energy demand, which averages 6 to 7 percent
annually,” said Ayman Al Qattan, Renewable Energy Program Manager
at Kuwait Institute for Scientific Research.
A diesel-fueled C1000S microturbine will be installed in a
combined heat and power (CHP) configuration at the KISR
headquarters to provide prime power, and later hot water, to a
newly constructed water desalination plant. A second 1MW CHP unit
will be fueled by natural gas and installed at a separate KISR
facility operating in the oil sector.
Both systems will utilize Capstone’s new integrated heat
recovery modules that dramatically simplify product installation,
serviceability and overall operation in CHP and CCHP applications.
The integrated heat recovery module provides recoverable heat
energy driving total system efficiency levels as high as 80
percent. Capstone microturbines were selected for their high
efficiency, low emissions and potential to provide a practical
solution for distributed power generation and district cooling.
“KISR is pioneering scientific excellence in Kuwait and
addressing key challenges, such as environment preservation and the
sustainable management of the country’s natural resources,” said
Jim Crouse, Capstone’s Executive Vice President of Sales and
Marketing. “We look forward to working closely with KISR and our
local distributor on these groundbreaking projects,” added Mr.
Crouse.
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. The Middle East
is a new growth market for Capstone and an important part of our
strategic initiative. Since launching the initiative, we have sold
products into Saudi Arabia, Oman, Qatar and Kuwait”, added Mr.
Jamison.
According to the International Energy Agency (IEA), Kuwait is
completely reliant on the burning of fossil fuels for energy
generation and water desalination. Kuwait’s energy demand is
expected to triple by 2030.
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 Capstone products and accessories including our new
integrated heat recovery module; diversification of our
geographical and market presence; and increased growth in the
Middle East. 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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