EXHIBIT 99.1
Capstone
Turbine Completes Offering
CHATSWORTH,
CALIF — October 24, 2005 —Capstone Turbine
Corporation®
(www.microturbine.com; Nasdaq:CPST), announced today that, effective
October 21, 2005, it
had completed the
previously announced registered offering of the company’s common
stock. Pursuant to the offering, the company issued a total of
17,000,000 shares of its common stock, resulting in gross proceeds of
approximately $41.4 million.
“We
are pleased to have significantly strengthened our cash and liquidity
position as a result of this offering and remain committed to
achieving our long-term goals. We believe that Capstone’s
MicroTurbine family of products will continue to offer the best value
in the market to our customers. We are excited to welcome our new
shareholders and appreciate the continuing support of our existing
shareholders,” said John R. Tucker, Chief Executive Officer of
Capstone Turbine Corporation.
About Capstone Turbine
Capstone Turbine Corporation (Nasdaq: CPST) is the world’s leading producer of low-emission microturbine systems and was the first to offer commercially viable microturbine energy products. The Company has shipped more than 3,200 MicroTurbines® to customers worldwide. These award-winning systems have logged more than 10 million runtime hours of documented operation. 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: 2000 company, Capstone Turbine is headquartered in the Los Angeles area with sales and/or service centers in New York, Milan and Tokyo.
Capstone Turbine Corporation (Nasdaq: CPST) is the world’s leading producer of low-emission microturbine systems and was the first to offer commercially viable microturbine energy products. The Company has shipped more than 3,200 MicroTurbines® to customers worldwide. These award-winning systems have logged more than 10 million runtime hours of documented operation. 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: 2000 company, Capstone Turbine is headquartered in the Los Angeles area with sales and/or service centers in New York, Milan and Tokyo.
This press release contains “forward-looking statements”, as that term is used in the federal
securities laws, with regard to, among other items, the results of the offering described above.
Forward-looking statements may be identified by words such as “expects”, “objective”, “intend”,
“targeted”, “plan”, “driving to” and similar phrases. These forward-looking statements are subject
to numerous assumptions, risks and uncertainties 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
Turbine Corp” and “Capstone MicroTurbine” are
registered trademarks of Capstone Turbine Corporation.
All other trademarks mentioned are the property of their respective owners.
All other trademarks mentioned are the property of their respective owners.
# # #
Contact:
|
Capstone Turbine Corporation | |
| Investor and Investment Media Inquiries: | ||
| Alice Barsoomian, 818-407-3628, Chuck McBride, 818-407-3629 |
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: ENERGY UTILITIES OIL/GAS MANUFACTURING
INDUSTRY KEYWORD: ENERGY UTILITIES OIL/GAS MANUFACTURING