Capstone to Provide Clean Power from Waste Gas for Repeat Oil and Gas Customer
June 19 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 has secured an
order for two C1000 Signature Series microturbines to provide power
from waste gas for a repeat oil and gas customer in Southern
California.
“This is a significant order in the California oil and gas
market and further illustrates the strengthening of Capstone’s oil
and gas related business which made up 34% of total product revenue
last year,” stated Darren Jamison, Capstone’s President and Chief
Executive Officer. “Repeat customers are critical to our future
growth, and we look forward to forging a long-term partnership with
our industry leading Factory Protection Plan that aligns us 100%
with our end-use customers and rewards everyone with system uptime
and positive operational performance,” added Mr. Jamison.
Cal MicroTurbine, one of Capstone’s distributors in California,
secured the order which is expected to be commissioned in the fall
of 2017. The customer selected Capstone microturbines for its
proven ability to provide clean, flexible and reliable performance
while running on lower quality, minimally processed associated
waste gas.
“We are excited this repeat customer selected us based on our
customer focus, value and integration experience over traditional
power generation providers,” said Kenda Brown, President at Cal
MicroTurbine. “We look forward to a long-term relationship with
this customer and providing them a premium service through our
all-inclusive Factory Protection Plan,” added Ms. Brown.
Both C1000S microturbines will be installed alongside the
Capstone Logic Controller and operate on high BTU, minimally
processed gas. The microturbine units will produce quality power
from low-quality waste gas with ultra-low emissions. The
installation will ultimately act as a pilot site for a potential
larger site expansion in the future.
“Capstone was tapped again by this existing customer due to past
project success in waste gas utilization and remote power
applications,” said Jim Crouse, Capstone’s Executive Vice President
of Sales and Marketing. “Combined with Capstone’s high reliability
and local presence, we were able to provide the highest quality
solution at a reasonable cost,” 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 over
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’s Signature Series product and accessories
offerings; strengthening of Capstone’s oil and gas related
business; advantages of Capstone’s products in waste gas
utilization applications; and the advantages and growth of
Capstone’s Factory Protection Plans. 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
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