Capstone Customers Saved an Estimated $194 Million in Energy Expenses while Saving 314,000 Tons of Carbon Last Year
June 21 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 Capstone end-use
customers saved an estimated $194 million in annual energy costs
and 314,000 tons of carbon last fiscal year. The carbon savings
compare to the annual equivalent carbon reduction from
approximately 369,800 acres of forest or removing over 67,000
passenger vehicles from the road for a year.
Capstone’s high efficiency combined heat and power (CHP) end-use
customers had the largest energy savings on a per project basis
compared to the oil and gas end-users where their primary focus is
currently on reliability. The natural resource market vertical,
which includes oil and gas, is currently Capstone’s largest in
terms of installations on a historical basis. However, Capstone’s
new Signature Series product line-up is making significant progress
in the CHP market, which is specifically focused on growing the
energy efficiency market vertical and continuing to diversify
Capstone’s business.
In fiscal 2018, the energy efficiency market vertical accounted
for 47% of product revenues, followed by the natural resource at
38% and renewable energy at 9%. The critical power and microgrid
market verticals combined for 6% of annual product sales.
“We recently reported our second consecutive quarter of positive
adjusted EBITDA and continued to make solid progress on our
strategic financial goals. As part of our long-term corporate
strategy, we followed that up by outlining our focus on being a
strong corporate citizen as we believe financial goals alone are
not enough. Specifically, we are building our business on values
that include the primary framework of Environmental, Social, and
Governance or ESG principals and standards,” said Darren Jamison,
President and Chief Executive Officer of Capstone.
“The real driver behind achieving our financial and corporate
responsibility goals is how much money our end-use customers are
saving each year, while simultaneously having a positive impact on
reducing their carbon footprint,” added Mr. Jamison.
“We have built Capstone on the premise that being a green
company with a green product is great, but it is only truly
sustainable if customers are “making green” or saving money with
our products. Therefore, we are thrilled to have helped them save
an estimated $194 million with our energy systems last year, and
that number will only increase this year as we expect to surpass a
cumulative 900 megawatts shipped to date,” added Mr. Jamison.
In calculating the figures above, the company used
average nationwide utility grid costs where available,
otherwise it assumed 0.15 $/kWh. For off-grid applications, the
company assumed diesel cost of $1/liter, LPG cost of $0.44/liter
and natural gas cost of $7/Mscf globally.
“We will continue to expand our efforts as a corporation to help
our customers both save money and achieve their environmental goals
through highly efficient, reliable and clean microturbine energy
systems. Our over 9,000 microturbines shipped globally play an
important role not only in improving the global ecosystem but are
also a key factor in helping our end-use customers remain
competitive by providing highly efficient energy systems. Nearly
every business today uses energy as part of their operations, and
we believe our energy systems can help them achieve both financial
and environmental goals. We encourage every consumer of energy that
is interested in saving both money and the environment to take a
long hard look at joining the growing Capstone family,” concluded
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 DQS-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.
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,"
"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
Capstone Turbine (NASDAQ:CPST)
Historical Stock Chart
From Aug 2024 to Sep 2024
Capstone Turbine (NASDAQ:CPST)
Historical Stock Chart
From Sep 2023 to Sep 2024