Capstone Green Energy Corporation on Nasdaq: CGRN
Capstone Green Energy Corporation on Nasdaq: CGRN
VAN NUYS, Calif., Jan. 14, 2019 (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 a C200 Signature Series integrated cooling, heat and power (ICHP) solution that is destined for an award-winning luxury resort in Jamaica looking to reduce their carbon footprint as well as their annual operating costs.
Secured by Innovative Energy Company Limited (IEC), Capstone’s distributor in Jamaica, the order is scheduled to be commissioned and provide prime power and hot water beginning in March 2019. The C200 Signature Series ICHP microturbine solution includes a 300 kW thermal integrated Capstone heat recovery module and will run as a standalone system on liquefied petroleum gas (LPG). Focused on reducing their carbon footprint, the luxury resort will utilize the exhaust heat produced by the microturbine to provide hot water and pool heating, all while expecting to reduce annual energy costs by approximately 30%.
“Microturbines have the ability to help customers substantially lower energy costs as we often see that electricity rates are three to four times that of natural gas or LPG in many markets, this simple math gives us a rather short simple payback while simultaneously reducing carbon emissions,” said Darren Jamison, President and Chief Executive Officer of Capstone. “This luxury resort was one of many customers I visited back in August 2018, with our distributor, IEC, who is in the process of developing multiple projects for resorts, grocery stores, beverage manufacturers and the local airport as power rates on the island are increasing to 28-36 cents per kWh,” added Mr. Jamison.
Traditionally the hospitality industry accounts for some of the largest consumption of electricity and water due to the sheer size of their operations. According to U.S. Green Building Council, hotels account for $4 billion in energy use to operate nearly 5 million guest rooms in the United States alone. With new interest in eco-friendly and sustainable operations by customers in recent years, hotels are starting to react by rebranding themselves and promoting new conservation efforts that also prove positive for their bottom line.
“Resorts are an excellent fit for CHP because of their combined electrical and thermal energy needs. Capstone CHP systems provide a significant improvement in efficiency for resort operators and allow them to meet a shift in consumer preference towards sustainable hospitality operations,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. “Guests are no longer simply looking for clean rooms and free Wi-Fi, hotels now must provide eco-friendly accommodations and differentiate themselves in ways they have not had to do in the past,” concluded 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 DQS-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. Forward-looking statements may be identified by words such as “expects,” “believes,” “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
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Shawn M. Severson
Released January 14, 2019