Capstone Expands Presence in South Pacific with 2MW Order
CHATSWORTH, Calif., June 05, 2017 (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 for two C1000 Signature Series microturbines to enhance an existing diesel generator power plant for a commercial customer in Fiji.
Capstone’s South Pacific distributor, Optimal South Pacific Pty Ltd, secured the order, which is expected to be commissioned in early 2018. Capstone microturbines were selected for their flexible inverter based generation, high reliability and their ability to provide cost-effective power in a remote island environment.
“Pacific island states face unique challenges in expanding access to electricity, given that their populations are spread across tens of thousands of islands,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “Capstone propane-fueled microturbines are scalable and allow for rapid deployment in these challenging geographies. Continuing reduction in the world price for propane means we are now able to offer cleaner, propane based power at a lower cost than diesel,” added Mr. Jamison.
The propane-fueled C1000S microturbines will be installed in a combined heat and power (CHP) application and operate in conjunction with the existing diesel generators, which allows the customer to begin transitioning to clean burning propane. The clean exhaust heat from the microturbines will be used in an absorption chiller for industrial chilled water production.
“Capstone’s modular microturbine technology offers substantial operational benefits over conventional gas engines. With propane now emerging as the first choice fuel, we are seeing substantial growth in our South Pacific and Caribbean markets,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “Capstone microturbines are ideally suited for hot water and chilled water CHP applications which are the majority of the opportunities we see in these markets,” added Mr. Crouse.
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 has shipped approximately 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of our Signature Series product and accessories offerings; growth in new geographic markets; and growth in alternate fuel sources such as propane. 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
Released June 5, 2017
