Capstone Green Energy Corporation on Nasdaq: CGRN
Capstone Green Energy Corporation on Nasdaq: CGRN
VAN NUYS, Calif., April 03, 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 two C200 systems to provide combined cooling, heat and power (“CCHP”) for a global biotechnology company headquartered in Western Germany.
E-Quad Power Systems GmbH, Capstone’s German distributor, secured the order with an expected commissioning this fall. Combined, the two grid-connect C200 systems will provide 400kW of reliable power, powering 100% of the manufacturing facility. In addition, the system will provide 570kW of hot water and chilled water through a lithium bromide absorption chiller, further increasing the value and allowing the system to achieve an overall energy efficiency of 86% and reducing emissions by more than 33% in CO2 alone.
“This global biotech company was faced with two choices, and at the end of the day it came down to the economics. They could continue what they were already doing – paying almost twice as much as necessary for utility power and on-site thermal energy, or join the distributed clean energy movement and adopt CCHP for greater efficiency and lower emissions at half the cost,” said Darren Jamison, President and Chief Executive Officer at Capstone. “The distributed clean energy movement is seeing increased adoption rates as companies come to the realization that it is both economically and environmentally detrimental to continue to waste natural resources the way we have been for years,” added Mr. Jamison.
According to COGEN Europe, the European Association for the Promotion of Cogeneration currently saves European countries around 200 million tons of CO2 per year. The goal is to have 20% of electricity and 25% of heat provided through cogeneration by 2030.
“Germany is one of the largest energy markets in Europe. Following a brief period of uncertainty in terms of CHP regulation and incentives, Germany is now increasing its adoption,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “The country’s focus on cleaner and more efficient energy sources are evident through the number of regulations and incentives available to customers,” 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
Investor and investment media inquiries:
Integra Investor Relations
Shawn M. Severson
Released April 3, 2019