Capstone Green Energy Corporation on Nasdaq: CGRN
Capstone Green Energy Corporation on Nasdaq: CGRN
VAN NUYS, CA / ACCESSWIRE / August 12, 2019 / Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world’s leading clean technology manufacturer of microturbine energy systems, announced today it secured its first significant combined heat and power (“CHP”) energy efficiency project in Bolivia with ceramic product manufacturer, Ceramica Guadalquivir. The project will utilize a C600S in a five-bay enclosure to accommodate future expansion up to one megawatt (“MW”). The exhaust energy from the clean and green microturbine will be used in the ceramic tile and brick drying process.
Monelco SRL, Capstone’s local distribution partner in Bolivia, secured the order, which is expected to ship in August and be commissioned by the end of October. The order is the first industrial deployment for Monelco in Bolivia and expands their business beyond their traditional oil and gas applications, where they have installed over 80 Capstone microturbines at Bolivia’s state-run oil company YPFB installations. This first combined heat and power project is key to Monelco’s future in the development of microturbine technology in Bolivia’s industrial manufacturing sector.
Annually, manufacturing has accounted for between 14% and 15% of Bolivia's gross domestic product. The share of the manufacturing industry, as a whole (including the mining industry), to the GDP increased from 30% in 2000 to 37% in 2010. Most of the manufacturing industry is small-scale, aimed at regional markets rather than national operations. Leading manufactured goods in Bolivia include textiles, clothing, non-durable consumer goods, processed soya, refined metals, and refined petroleum.
“The order is significant as it demonstrates our continued market development in yet another strategic geography,” said Darren Jamison, President and Chief Executive Officer of Capstone. “We continue to see a growing demand for our products in South America where microturbines can offer substantial cost savings for commercial and industrial customers. It’s great to be getting CHP order flow from Brazil, Columbia, Chile and now Bolivia where we had little or no commercial industrial business just a couple of years ago,” added Mr. Jamison.
“As a second-generation business leader in Bolivia, I am committed to bringing automation and new technology into my family run industrial manufacturing business as we look to be a leader in red ceramic products in both Bolivia and the international markets,” said Oscar Vargas Hernandez, General Manager of Ceramica Guadalquivir.
“I was looking for an environmentally friendly way to reduce our energy costs that met our high-quality standards and would contribute to the general social welfare of the local area. We develop all our activities based on efficient production, mutual respect of our employees and overall beneficial teamwork,” added Mr. Vargas.
“Capstone is pleased to see Monelco’s expansion into the industrial space,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone. “Bolivia holds an untapped CHP opportunity for Capstone and Monelco has found an industrial solution to allow customers to reduce their energy cost while improving their resiliency and environmental footprint,” concluded Mr. Crouse.
“I was really pleased to find a technology that could meet our energy requirements, as well as provide resiliency and the ability to quickly and easily expand the project in the future as I continue to grow my business,” concluded Mr. Vargas.
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 units to 73 countries and has saved customers an estimated $253 million in annual energy costs and 350,000 tons of carbon.
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.
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SOURCE: Capstone Turbine Corporation
Released August 12, 2019