Repeat Order from a Leading Midstream Corporation Leveraging Capstone’s Megawatt Scale Solution for Remote Pipeline Compres...
April 29 2019 - 8:30AM
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:
CPST), the world’s leading clean technology manufacturer of
microturbine energy systems, today announced it has received
another repeat order for a megawatt scale C1000 Signature Series
low emission microturbine system that will be used to power a
compression station in the Mid-Atlantic, United States.
This order was secured by E-Finity Distributed Generation,
Capstone’s exclusive distributor for the Mid-Atlantic Southeast
United States and Eastern Caribbean. Ideal for natural gas
producers looking for scalable solutions, the C1000S can provide
reliability and redundancy in a single compact package.
Additionally, the microturbine exhaust will be used in the
customer’s dehydration process, improving the overall efficiency of
the gas compression site.
“We continue our significant permeation of the North American
shale gas market with another megawatt win to an existing
customer,” said Jim Crouse, Capstone’s Executive Vice President of
Sales and Marketing. “North American shale gas producers are
continuing to adopt Capstone microturbines because they want the
high reliability and low emission benefits afforded by our
products,” Mr. Crouse added.
“The energy market continues to strengthen for Capstone
worldwide as oil demand is holding up better than many experts
predicted last fall,” said Darren Jamison, Capstone’s President and
Chief Executive Officer. “That demand, combined with the recent
OPEC supply cuts and U.S. sanctions on Iran and Venezuela are
leaving the market with less ability to absorb supply disruptions,”
added Mr. Jamison.
According to the U.S. Energy Information Administration, dry
natural gas production will increase 7% reaching an average 91
billion cubic feet per day (Bcf/d) during 2019. Furthermore,
natural gas production is forecasted to grow in 2020 to an average
of 92.5 Bcf/d.
“The continued natural gas infrastructure build-out in the
Mid-Atlantic region is driving a shift from centralized utility
power to energy-efficient CHP systems. We expect to see significant
market growth over the next several years in the decentralized
commercial and industrial CHP space,” said Jeff Beiter, E-Finity’s
Managing Partner. “This system will also be covered under a
Capstone Factory Protection Plan or FPP once it is commissioned,”
added Mr. Beiter.
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 CorporationInvestor and
investment media inquiries:818-407-3628ir@capstoneturbine.com |
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Integra Investor RelationsShawn M.
Severson415-226-7747cpst@integra-ir.com |
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