Capstone Further Penetrates the Oil and Gas Market in Russia With Two Orders Totaling 24MW
January 06 2014 - 8:30AM
Capstone Turbine Corporation (www.capstoneturbine.com)
(Nasdaq:CPST), the world's leading clean technology manufacturer of
microturbine energy systems, today announced that it recently
received two orders totaling 24MW from its Russian distribution
partner BPC Engineering for new associated gas and pipeline
projects.
The low-emission Capstone microturbines will be installed at
modular power stations. Several of the microturbines will be fueled
by untreated associated gas from well sites that otherwise would be
flared. Associated gas utilization for power will allow the
customer to avoid costly emissions penalties and to significantly
reduce power costs at the oil field level. Globally, about 140
billion cubic meters of associated gas are estimated to be burned
or wasted annually. Recent estimates put the amount of flared or
wasted associated gas in Russia at close to 40 billion cubic meters
per year.
"Russian oil and gas producers continue to adopt Capstone's
microturbine technology because of its inherent reliability and
ability to burn associated gas that contains up to seven percent
hydrogen sulfides without requiring treatment equipment," said
Alexander Skorokhodov, BPC Engineering Chief Executive Officer.
"Russia continues to be Capstone's top international oil and gas
market," said Jim Crouse, Capstone's Executive Vice President of
Sales and Marketing. "We are also seeing significant interest from
producers in Africa, the Middle East and the United States for
Capstone's highly reliable and low maintenance associated gas
products," added Crouse.
"BPC Engineering continues to be a very strong partner for
Capstone and today has over 1,200 Capstone units successfully
operating throughout their territory," said Darren Jamison,
Capstone's President and Chief Executive Officer.
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 Turbine has shipped
approximately 7,000 Capstone Microturbine systems to customers
worldwide. These award-winning systems have logged millions of
documented runtime operating hours. Capstone Turbine 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 9001:2008 and ISO
14001:2004 certified company, Capstone is headquartered in the Los
Angeles area with sales and/or service centers in the New York
Metro Area, Mexico City, Nottingham, Shanghai and Singapore.
The Capstone Turbine Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6212
This press release contains "forward-looking statements," as
that term is used in the federal securities laws, about the use of
our products in the oil and gas market and increased sales of our
products. 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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