Capstone Green Energy Corporation on Nasdaq: CGRN
Capstone Green Energy Corporation on Nasdaq: CGRN
VAN NUYS, Calif., Jan. 22, 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 orders for four C200 systems to be installed in Mexico for two industrial combined heat and power (CHP) applications.
Secured by DTC Soluciones Inmobiliarias SA de CV, Capstone’s exclusive distributor in Mexico, the combined orders are for four C200 CHP systems. Each of the systems will use clean-burning natural gas to provide power and thermal energy for the manufacturing process. Two of the systems will be installed at a large pet food manufacturer where the thermal energy will be used as a replacement for a food oven. The two additional C200s will be installed at a latex glove manufacturer where the exhaust energy will be used during the drying process to reduce cost, improve efficiency and reduce on-site emissions.
“Pet food and latex glove manufacturing are excellent examples of the extensive assortment of potential industrial customers around the world that Capstone can assist with our clean and green CHP energy systems. Any industrial customer using electricity, hot water, steam, chillers, boilers or furnaces are potential candidates for Capstone’s unique CHP solutions,” said Darren Jamison, President and Chief Executive Officer at Capstone Turbine Corporation. “Interestingly, the type of companies using CHP varies widely, but the customers all share the same needs to reduce energy cost, improve efficiency and reduce environmental impact,” added Mr. Jamison.
Mexico’s General Climate Change law, signed in 2012, set the goal to reduce greenhouse gas emissions on a national level by 30% by 2020. This law also introduced the requirement that beginning in 2018, large and industrial electricity consumers must transition by 2024 to consuming 35% of their electricity from clean energy sources.
Utilizing the heat by-product of an electricity generating system allows operators to reduce emissions and save added cost that would otherwise be required to produce heat or steam in a separate unit. While traditional electricity from the grid with coal and gas-fired plants produce power at 33% efficiency, Capstone CHP systems can reach efficiencies of more than 80%.
“These improvements in efficiency directly translate to significantly lower energy costs and higher profit margins for our customers,” said Jim Crouse, Executive Vice President of Sales. “As utility rates continue to increase around the world and emission requirements become increasingly stringent for industrial customers, our technology becomes more economical and beneficial to our customers,” 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.
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Released January 22, 2019