Capstone Green Energy Corporation on Nasdaq: CGRN
Capstone Green Energy Corporation on Nasdaq: CGRN
VAN NUYS, Calif., April 08, 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 four orders totaling 1.4 megawatts (MW) that are destined for four brewing facilities across Brazil.
Capstone’s distributor for Brazil, Luming Inteligência Energética, secured the orders and will begin commissioning the units this fall. The new orders follow on a 2018 commissioning of a C200R and a second installation of a C65. Combined, the new orders consist of two C200S, one C400S and one C600S microturbine. The microturbines will produce power at four brewing facilities across Brazil and will be used to improve the company’s sustainability goals and to lower the cost per KW at the facilities by using the biogas that is currently being flared at the facilities.
“As the saying goes, we do not inherit the Earth from our ancestors; we borrow it from our children. From the board room to the production floor, climate change, sustainability and eliminating waste is becoming a significant topic of conversation,” said Darren Jamison, President and Chief Executive Officer of Capstone. “As more industrial producers seek innovative ways to reduce their operational costs and improve sustainability, microturbines are the obvious answer for anyone who likes saving money and likes saving the planet. Capstone offers the unique opportunity to do both,” added Mr. Jamison.
Breweries use an enormous amount of electrical and thermal energy due to the complex and numerous steps in the production process requiring rapid heating and cooling. From kiln-drying, the roasting of malt or boiling of hops, to rapid cooling and refrigeration, energy constitutes an outsized part of the overall production cost. Capstone’s microturbines offer breweries the ability to reduce operating costs and maintain high electrical and thermal loads for heating and cooling that translates into lower operating costs. In addition, replacing the use of fossil fuels used in boilers and heating system with renewable biogas generated from a waste product, breweries can significantly cut operating expenditures, emissions and waste.
“Breweries like other food industries are increasingly adopting the idea of combined heat and power (CHP) and using waste biogas generated during the production process to provide clean and green energy on-site energy,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone. “Capstone is enabling breweries to turn a waste byproduct into a free fuel source to save on energy costs and reduce carbon emissions,” 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 April 8, 2019