Capstone Green Energy Corporation on Nasdaq: CGRN
Capstone Green Energy Corporation on Nasdaq: CGRN
CHATSWORTH, Calif., March 23, 2015 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it has secured an order to upgrade the Salvaplastic manufacturing plant in San Salvador, El Salvador.
This will serve as Capstone's first project in El Salvador with hopes that it will encourage the development of future projects there. El Salvador is experiencing significant growth in its manufacturing sector despite a decline in the number of manufacturing plants that import and assemble components for export, also known as maquiladoras.
Senerco-Enertiva, Capstone's distributor in Central America, secured the order, which is expected to be commissioned in August 2015.
A propane-fueled Capstone C200 microturbine will be installed in a grid connect configuration to provide electricity to the manufacturing facility in parallel with the local utility. The microturbine will be deployed in a combined cooling and power application which includes a direct exhaust absorption chiller for cold water production. In addition, the quiet operation and compact footprint of the microturbine will allow for a fast and easy installation, keeping capital costs low and ensuring rapid payback.
Salvaplastic is a quality plastics manufacturer committed to continuous improvement as well as being environmentally friendly in its manufacturing processes. Salvaplastic opted for a clean-and-green Capstone microturbine over reciprocating engine alternatives to reduce the overall cost of operation by improving efficiency. The cogeneration system will require minimal maintenance by the end user and won't require any oil or lubricants for operation.
"As Capstone develops and strengthens its presence in Central America, we continue to leverage the demonstrated success of our combined heat and power projects worldwide," said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. "This project is yet another example of smart power generation with a high efficiency energy solution for a customer looking to reduce their operational costs," added Crouse.
"Success in new geographies and verticals is critical to Capstone's success and continued growth and further diversifies and strengthens our global distribution channel," said Darren Jamison, President and Chief Executive Officer at Capstone Turbine. "Growth in new markets like Central America, South America, Africa and the Middle East will be critical over the next couple of years as we transition from operating losses into sustained profitability," added 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 Turbine has shipped approximately 8,000 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, United Kingdom, Mexico City, 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, growth of certain markets, and sustained profitability. 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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CONTACT: Capstone Turbine Corporation Investor and investment media inquiries: 818-407-3628 email@example.com
Released March 23, 2015