Capstone to Provide Clean Power from Waste Gas for Repeat Oil and Gas Customer
CHATSWORTH, Calif., June 19, 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 provide power from waste gas for a repeat oil and gas customer in Southern California.
“This is a significant order in the California oil and gas market and further illustrates the strengthening of Capstone’s oil and gas related business which made up 34% of total product revenue last year,” stated Darren Jamison, Capstone’s President and Chief Executive Officer. “Repeat customers are critical to our future growth, and we look forward to forging a long-term partnership with our industry leading Factory Protection Plan that aligns us 100% with our end-use customers and rewards everyone with system uptime and positive operational performance,” added Mr. Jamison.
Cal MicroTurbine, one of Capstone’s distributors in California, secured the order which is expected to be commissioned in the fall of 2017. The customer selected Capstone microturbines for its proven ability to provide clean, flexible and reliable performance while running on lower quality, minimally processed associated waste gas.
“We are excited this repeat customer selected us based on our customer focus, value and integration experience over traditional power generation providers,” said Kenda Brown, President at Cal MicroTurbine. “We look forward to a long-term relationship with this customer and providing them a premium service through our all-inclusive Factory Protection Plan,” added Ms. Brown.
Both C1000S microturbines will be installed alongside the Capstone Logic Controller and operate on high BTU, minimally processed gas. The microturbine units will produce quality power from low-quality waste gas with ultra-low emissions. The installation will ultimately act as a pilot site for a potential larger site expansion in the future.
“Capstone was tapped again by this existing customer due to past project success in waste gas utilization and remote power applications,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “Combined with Capstone’s high reliability and local presence, we were able to provide the highest quality solution at a reasonable cost,” 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 over 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 Capstone’s Signature Series product and accessories offerings; strengthening of Capstone’s oil and gas related business; advantages of Capstone’s products in waste gas utilization applications; and the advantages and growth of Capstone’s Factory Protection Plans. 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 19, 2017
