Capstone Green Energy Corporation on Nasdaq: CGRN
Capstone Green Energy Corporation on Nasdaq: CGRN
VAN NUYS, Calif., April 18, 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 a Capstone C600 Signature Series microturbine for a leading plastics manufacturer in Germany. The order was secured by E-Quad Power Systems GmbH, Capstone’s distributor in Germany and is the second significant order this month. In early April, Capstone announced that E-Quad had secured an order for two C200 systems to provide combined cooling, heat and power (“CCHP”) for a global biotechnology company in Germany.
The latest microturbine CHP project will be installed at a plastics manufacturing facility in southwest Germany. Fueled by low-pressure natural gas, the microturbines will be used to reduce energy costs and help lower plant CO2 emissions. The exhaust from the microturbine will be directly funneled into a multi-megawatt steam burner to aid the plastic molding process.
“After an extended period of economic uncertainties in the German CHP market, we are seeing the leading indicators of a strengthening market. As a result, this is the first Capstone C600 Signature Series microturbine that will be shipped to the region for a steam application. Steam projects are an important driver of our business, and as such, they represent a sizable part of our focus in the German CHP market,” said Marcus Mehlkopf, Managing Partner of E-Quad Power Systems.
Industrial steam is used in nearly all manufacturing processes worldwide, and its production is a large part of operating costs in industrial applications. Adopting cogeneration systems allows industrial manufacturers to significantly reduce their CO2 emissions and lower operating costs as microturbine system efficiencies can drive overall energy efficiencies up to 80%.
“Empowering customers to benefit from two or three forms of energy generation simultaneously through CHP and CCHP for the price of producing a single energy source is an obvious economic win for our customers,” said Darren Jamison, President and Chief Executive Officer of Capstone Turbine. “A single Capstone CHP system can offer customers an annual energy savings of an estimated 40% while simultaneously lowering their carbon footprint,” Mr. Jamison continued.
According to the IEA’s Future of Petrochemicals report, petrochemicals, which includes plastics, are set to be the largest driver of world oil demand. The production of petrochemicals currently consumes as much energy as both the steel sector and cement sector combined and is responsible for 18% of all industrial-sector CO2 emissions.
“Changing attitude towards energy markets and policies related to on-site distributed generation are driving the interest in energy efficiency and green power options,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. "Capstone systems are currently providing electricity and steam for hundreds of industrial manufacturers worldwide," 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.
|CONTACT:||Capstone Turbine Corporation|
|Investor and investment media inquiries:|
|Integra Investor Relations|
|Shawn M. Severson|
Released April 18, 2019