Capstone Celebrates Earth Day by Announcing that in Fiscal 2019 Capstone Saved Customers an Estimated $253 Million in Energy ...
April 22 2019 - 8:30AM
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:
CPST), the world’s leading clean technology manufacturer of
microturbine energy systems, celebrated Earth Day by unveiling its
annual estimated end-use customer microturbine financial,
environmental and resiliency benefits.
During fiscal year 2019, Capstone saved end-use customers an
estimated $253 million in annual energy costs and 350,000 tons of
carbon. The fiscal 2019 results demonstrate continued progress in
both carbon savings, up 11% from the prior year, and total energy
savings, up 30% compared to the prior year, as the company sold
more combined heat and power (CHP) systems. A single Capstone
cooling, heating and power (“CHP”) system can offer customers an
annual energy savings of an estimated 40% while simultaneously
lowering their carbon footprint. The company also announced that
global microturbine fleet availability declined nominally 0.8% from
96.4% to 95.6% due to a previously announced vendor parts quality
issue. However, the company anticipates fleet resiliency to rebound
in the current fiscal year as the vendor parts quality issue has
been successfully identified and is being mitigated.
“Capstone is committed to improving the efficiency of energy
generated around the world, while simultaneously reducing global
emissions of pollutants and greenhouse gases. Capstone’s systems
help end-users improve their impact on the environment while
meeting critical power and reliability needs,” said Darren Jamison,
President and Chief Executive Officer of Capstone. “If you like
saving money, want to save the planet, or don’t like being left in
the dark for prolonged periods of time, you should consider our
innovative clean and green energy products and becoming a Capstone
customer,” added Mr. Jamison.
“Not only do we enable customers to reduce CO2 and NOx
emissions, Capstone applies the same principals to its own
environmental footprint and focuses internally on its environmental
risks, energy consumption, waste disposal and carbon footprint,”
stated Kirk Petty, Capstone’s Senior Vice President of
Manufacturing. “We also strive to foster a corporate culture
emphasizing lean manufacturing and providing our employees the
safest possible work environment. It’s the relationship with our
employees, customers and suppliers that matter most and drive our
future success,” concluded Mr. Petty.
Earth Day is an annual event celebrated on April 22nd.
Worldwide, various events are held to demonstrate support for
environmental protection. First celebrated in 1970, Earth Day now
includes events in more than 193 countries, which are now
coordinated globally by the Earth Day Network.
A brief Earth Day video message from Capstone Turbine:
https://spark.adobe.com/video/pS98lqIm5rhQS
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:
CPST) is the world’s leading producer of highly efficient,
low-emission, resilient microturbine energy systems. Capstone
microturbines serve multiple vertical markets worldwide, including
natural resources, energy efficiency, renewable energy, critical
power supply, transportation and microgrids. Capstone offers a
comprehensive product lineup, providing scalable systems focusing
on 30 kWs to 10 MWs that operate on a variety of gaseous or liquid
fuels and are the ideal solution for today's distributed power
generation needs. To date, Capstone has shipped over 9,000 of these
systems into 73 countries logging millions of operating hours.
For more information about the company, please visit
www.capstoneturbine.com. Follow Capstone Turbine on Twitter,
LinkedIn and YouTube.
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,”
“believes,” “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 |
|
|
|
Integra Investor Relations |
|
Shawn M. Severson |
|
415-226-7747 |
|
cpst@integra-ir.com |
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/cb45d42c-2c0c-4cc6-bbe0-54d638e6b158
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