Capstone Green Energy Corporation on Nasdaq: CGRN
Capstone Green Energy Corporation on Nasdaq: CGRN
VAN NUYS, Calif., April 01, 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 received an order for two C200S microturbine units for a leading chemical manufacturer based in Italy.
IBT Group, Capstone’s Italian distributor, secured the order for two C200S microturbines that will be installed in a combined heat and power (CHP) application. The exhaust gas produced from microturbines will be used to generate three tons per hour of steam at 17 bar gauge (barG). Using a special steam boiler generator with a duct burner, the microturbines will aid in increasing gas temperatures from 280°C to 790°C before it reaches the steam boiler generator. The steam produced by the state-of-art system will be used in the manufacturing of glycerol and polyglycerols.
“This customer turned to Capstone’s distributor looking to meet the customer’s uniquely challenging need for particularly high-pressure steam at 17 barG. Our solution was perfect for the customer because we produce the exact energy vector requested,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “Beyond this being a great example of our CHP technology, this project is a testament of the flexibility and capabilities of our systems,” Mr. Jamison continued.
Commercial manufacturing facilities use an immense amount of electricity to both direct power and produce ancillary thermal energy during the production process. Cogeneration, also known as CHP, is the practice of generating electricity and heat simultaneously which allows customers to reduce their energy cost. The savings lies in the fact that fuel is used once to produce both heat and electricity concurrently. Adding steam to the equation, a system can achieve a total efficiency well over 85%, a significant difference from traditional methods.
“Europe is leading the way in adopting CHP into the chemical production process,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “With the addition of this new steam project, Capstone is expanding its CHP presence with a number of installations in Italy, Germany, and other key European countries that range from a global pasta maker to a cured meat company in Veneto, Italy,” concluded 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 April 1, 2019