Capstone Green Energy Corporation on Nasdaq: CGRN
Capstone Green Energy Corporation on Nasdaq: CGRN
CHATSWORTH, Calif., July 11, 2012 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, recently received multiple orders from two natural gas service companies in Colombia that total two megawatts of prime power generation.
The first of the two new orders secured by Capstone Distributor Supernova Energy Services was for the purchase of two Capstone Microturbines –a C1000 and C200–which will be used in a combined heat and power (CHP) application for a large gas treatment plant near Yopal, Colombia. The energy generated will provide 100 percent of the power for the facility, and the heat will be utilized in the gas treatment process. The Capstone microturbine will enable the facility to increase the volume of gas treated while generating reliable power.
"The customer has visited other Capstone installations in Colombia and was pleased that the microturbines do not require dedicated personnel to run the equipment," said Juan Carlos Mosseri, Supernova Energy Services Manager of Operations. "The Capstone microturbines allow them to focus their resources on their core activities."
The installation and commission of the units will coincide with the installation of the plant in late 2012.
A second microturbine order Supernova recently secured is for a Capstone C800 Power Package by a large natural gas transportation company based in Barranquilla, Colombia. The installation is the first of its kind for the Colombian oil and gas industry. The package was purchased to generate reliable onsite power at a remote compressor station.
When commissioned in August, the C800 will replace five antiquated Caterpillar diesel gensets and produce 800 kilowatts of clean electricity using natural gas directly from the pipeline. The reliable electricity will power auxiliary equipment – coolers, motors, pumps, compressors, and lights – that enable the compressor station to push 737 million cubic feet of natural gas per day through the pipeline—43 percent of the country's natural gas supply.
The facility operators wanted a modular, reliable, and cost effective power system to replace the high maintenance diesel generators. The Capstone C800 Power Package will supply 100 percent of the facility's power even during fluctuating power loads each season. Compared to the former gensets at the compressor station, the C800 will operate at 99.1 percent availability, resulting in an estimated annual 20 percent cost savings.
"In the last 10 years, Colombia's natural gas production has substantially expanded, and investments in this sector have risen to historical levels," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "As the country continues to improve and expand its gas transportation network, Capstone microturbines can be the reliable energy system that allows companies to sever their dependence on less efficient and undependable gensets and utility power."
"These orders follow two previous orders generated by Supernova in the last two years, which established our foothold in Colombia," said Darren Jamison, Capstone's President and Chief Executive Officer. "The success of the first two Capstone installations in Colombia paired with these latest orders solidify that Capstone's durable, low-emission, and highly-efficient microturbines are a proven solution for around-the-clock production and optimized well performance in Colombia."
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 over 6,500 Capstone MicroTurbine(R) 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.
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This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of our products and growth of the Colombian market. 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.
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Released July 11, 2012