Capstone Green Energy Corporation on Nasdaq: CGRN
Capstone Green Energy Corporation on Nasdaq: CGRN
VAN NUYS, CA / ACCESSWIRE / December 19, 2019 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, today announced that its Model C200 and C1000 systems are now certified to the Australian AS/NZS 4777.2:2015 Interconnection Standard.
"Certification to the Australian standard is a significant accomplishment for our organization as the Australian certification comes on the heels of certifications for California and the United Kingdom," stated Darren Jamison, President and Chief Executive Officer of Capstone. "These multiple certifications demonstrate the strength of our inverter-based technology to meet the growing needs of our global customer base, and for the network operators. Capstone is well-positioned to provide the resiliency necessary, especially in regions like California, to power through planned and unplanned utility outages," added Mr. Jamison.
"We are delighted to receive certification of the Capstone C200/C1000 family of generators to AS 4777. This allows us to provide our customers with compliance to the latest connection standards required in every Australian State and Territory," said Les Blackwell, Engineering Director of Optimal Group Australia, Capstone's exclusive distributor for Australia, New Zealand, and Tasmania. "As more and more customers seek behind the meter solutions to reduce spiraling energy costs and greenhouse gas emissions, Capstone microturbines will be able to be deployed with a simple approval process. As grids become more complex and stressed, there are fewer options available for self-reliant generation; however, with this certification, it's now simpler than ever to enjoy the benefits of behind the meter on-site generation. In addition, our customers will also be able to receive additional income for demand and frequency response at times of high network demand," added Mr. Blackwell.
Optimal has recently installed a number of megawatt-scale Capstone energy systems to remote customers in Australia and the Pacific. These systems have resulted in substantial reductions in energy costs for these clients and have provided the opportunity for additional energy sources, including energy storage and solar photovoltaic (PV). As grids globally shift towards a distributed energy model, standards such as AS 4777 will benefit all stakeholders as it facilitates the connection of more grid-connected solutions which can export power, thereby minimizing the investment required for network upgrades.
"I am very proud of our engineering team and certification partners", declared Don Ayers, Director of Engineering at Capstone. "Not only was there the tight timeline to be maintained throughout the project, but also additional scope was discovered during the definition of the work to be accomplished. The flexibility and agility of the team was outstanding," concluded Mr. Ayers.
Certification efforts will continue for Capstone's C65, and for updated releases of the German and Italian standards, who led the grid interconnect requirement efforts.
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.
Capstone Turbine Corporation
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SOURCE: Capstone Turbine Corporation
Released December 19, 2019