Capstone Green Energy Corporation on Nasdaq: CGRN
Capstone Green Energy Corporation on Nasdaq: CGRN
VAN NUYS, Calif., March 25, 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 two additional C200 systems and two C65 systems that will be installed in two industrial combined heat and power (CHP) applications in Mexico. These two new orders are on the heels of four C200 CHP systems sold this past January for multiple industrial manufacturing customers.
Secured by DTC Soluciones Inmobiliarias SA de CV, Capstone’s exclusive distributor in Mexico, the combined orders are for two C200 systems and two C65 CHP systems. Each of these systems will use clean-burning natural gas to provide power and thermal energy for the manufacturing process. Capstone CHP systems offer additional environmental benefits when compared with purchased electricity and thermal energy produced on site. By capturing and utilizing heat that would otherwise be wasted from the production of electricity, on-site CHP systems require less fuel to produce the same amount of energy and reduce reliance on more expensive local grid power.
The C200 systems will be installed at an energy drink manufacturer where the thermal energy will be used to create steam for the manufacturing process, and the two C65s will be installed at a produce packager where the exhaust will be used to create chilled water used in the vegetable packaging process. Both applications will reduce cost, improve efficiency and lower emissions.
“DTC has made a significant investment of both time and money in order to be one of the CHP market leaders in Mexico,” said Darren Jamison, President and Chief Executive Officer at Capstone. “They recently dedicated a new headquarters in Guadalajara to support their growth throughout Mexico. The new facility includes a state-of-the-art remote monitoring facility that allows DTC’s technical staff to oversee that their customers’ Capstone microturbine systems are operating at peak performance,” added Mr. Jamison.
Signed in 2012, Mexico’s General Climate Change law 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, like a Capstone microturbine, 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 orders secured by DTC are just two great examples of how the food industry can use Capstone CHP systems to reduce and control future energy costs,” said Jim Crouse, Executive Vice President of Sales and Marketing for Capstone. “Many manufacturing operations have high energy content, therefore one of the best ways a manufacturer can reduce their product cost is to reduce the amount of energy it takes to manufacture their products. This energy cost reduction drops straight to the bottom line and makes them more competitive in a global economy,” added Mr. Crouse.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq: CPST) is the world’s leading producer of highly efficient, low-emission, resilient microturbine energy systems. Capstone microturbines serve multiple vertical markets worldwide, including natural resources, energy efficiency, renewable energy, critical power supply, transportation and microgrids. Capstone offers a comprehensive product lineup, providing scalable systems focusing on 30 kWs to 10 MWs that operate on a variety of gaseous or liquid fuels and are the ideal solution for today's distributed power generation needs. To date, Capstone has shipped over 9,000 of these systems into 73 countries logging millions of operating hours.
Capstone is committed to improving the efficiency of energy needs around the world, while simultaneously reducing global emissions of pollutants and greenhouse gases. Capstone’s systems help end users improve their impact on the environment, while still meeting power and reliability needs. During fiscal year 2019, Capstone saved end-use customers an estimated $194 million in annual energy costs and 314,000 tons of carbon.
Not only does Capstone enable customers to reduce CO2 and emissions, Capstone applies the same principals to its own environmental footprint and focuses internally on its environmental risks, energy consumption, waste disposal and carbon footprint. Capstone also strives to foster a corporate culture emphasizing its relationship with employees, customers and suppliers in order to ensure that Capstone’s corporate values are aligned with those of its employees, customers and suppliers.
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.
Capstone Turbine Corporation
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Released March 25, 2019