Capstone Secures Sizable 5.2MW Order for Multiple Oil and Gas Sites in South America
February 28 2018 - 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 received a
sizable new order for 5.2MW of clean and green microturbines to
power multiple oil and gas sites in South America. Supernova Energy
Services, a South American distributor for Capstone, secured the
project.
The order is comprised of five C800 and two C600 Signature
Series microturbines that are being deployed to three separate
installation sites. The customer selected Capstone microturbines
for their proven reliability in oil and gas operations around the
world to mitigate their prior regular power outages, resulting in
the loss of millions of dollars in missing oil production. The
microturbines will provide primary power, with the critical load
being the compression systems at each site.
The microturbines will be fueled by associated gas, which is a
natural byproduct of the oil production process. The microturbines
are able to run on lower quality, minimally processed associated
gas, which typically needs a great deal of treatment before it can
be utilized as a fuel source. However, Capstone’s microturbines are
able to run on a wide range of fuels with various BTU content,
requiring minimal treatment when compared to reciprocating engines,
helping reduce the overall cost of the project while improving
reliability. Additionally, the microturbines have some of the
lowest emissions in the world, reducing the impact to the
environment compared to other traditional power generation
technologies.
“We are excited to see our multi-year sales effort result in a
significant initial order for the oil and gas market in South
America,” said Jim Crouse, Executive Vice President of Sales and
Marketing of Capstone. “We expect to see oil and gas companies
continue to look at total cost of ownership, reliability, and the
impact on the environment as their primary criteria in selecting
future power generation solutions, helping to drive Capstone as the
desired solution,” added Mr. Crouse.
“As Brent crude oil prices continue to remain well above fifty
dollars a barrel, we continue to see a rebound in our oil and gas
business. This rebound combined with our expanding energy
efficiency business is driving our year-over-year revenue growth,”
said Darren Jamison, President and Chief Executive Officer of
Capstone. “These units will eliminate the need for unreliable and
environmentally unfriendly diesel engine generator sets to power
the sites. Microturbines running on essentially free associated gas
makes both environmental and economic sense, or said another way,
provides customers with two shades of green. It saves money and is
eco-friendly,” added Mr. Jamison.
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.
Forward-Looking Statements
This press release contains "forward-looking statements," as
that term is used in the federal securities laws. 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