Capstone Green Energy Corporation on OTCPink: CGRNQ
Capstone Green Energy Corporation on OTCPink: CGRNQ
A 247Solar Plant Utilizes Two Microturbines That Can Generate Electricity and Thermal Energy 24/7/365
VAN NUYS, CA / ACCESSWIRE / October 15, 2020 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today the successful demonstration of the groundbreaking 247Solar Plant™, the project is likely the first competitive, clean-energy, baseload (24/7) alternative to conventional power generation. The pre-engineered plant utilizes two highly-efficient Capstone C200S microturbines to generate electricity and thermal energy 24/7/365. In combination with 247Solar Inc.'s (www.247solar.com) technology, the renewable energy solution will introduce one of the world's most versatile, reliable, zero-carbon power generation solutions to the green energy market.
New 247Solar Plant™ - Competitive, Clean-Energy, Baseload (24/7) Alternative to Conventional Power Generation
Capstone's highly efficient microturbine technology is at the heart of the first operational 247Solar Plant™. The plant includes a system that concentrates sunlight in order to heat air to a high-enough temperature that is then used to drive the microturbine to produce electricity. The heated airflow can also be directed to a thermal storage system and then transferred back into the microturbines up to 20 hours at night when solar irradiance is not available. As a result, the uniquely designed 247Solar plant can supply power over extended periods of time and reduce fuel consumption by up to 90%.
"Capstone is excited to be working with innovative companies like 247Solar, as the need to shift to greener energy solutions has never been more evident than it is today. In fact, there is a strong argument to be made for a green recovery from the COVID-19 pandemic, especially in Europe, as they are already moving in this direction with economic stimulus plans that aim to avoid an increase in carbon emissions," said Darren Jamison, President and Chief Executive Officer of Capstone Turbine.
"Whether it's working with 247Solar to develop a solar-powered microturbine or Argonne National Labs to develop a hydrogen-powered microturbine, Capstone believes continuing to support and invest in innovation is necessary to meet the increasing market demand for clean and reliable energy solutions," added Mr. Jamison.
This breakthrough is made possible with a modified Capstone microturbine that includes a higher temperature heat exchanger to capture the energy from the solar receiver or thermal storage system. This heat exchanger is constructed using the proven Capstone recuperator design and uses ultra-high temperature metal alloys designed to operate at extreme temperatures. Energy transferred into the microturbine will replace the turbine's standard combustion system, so there is no fossil fuel consumed during operation on heat input from the sun or the thermal storage system.
Capstone microturbine technology is extremely low maintenance, requiring only 4 to 6 hours of maintenance a year. This equates to high overall system availability and aligns with 247Solar's overall 24/7/365 clean and renewable power objectives.
"This microturbine is the key component that enables us to produce round-the-clock clean power from our hot-air based 247Solar Plants," says Bruce Anderson, 247Solar's CEO and solar industry pioneer. "It also opens up a new market for turbine manufacturers, who can now offer industrial customers a way to use their waste heat to produce electricity to power their operations," Mr. Anderson added. "We are delighted to be using an outstanding microturbine from Capstone Turbine in our first system." Mr. Anderson concluded.
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 via our direct sales team, as well as our global distribution network. Capstone provides scalable solutions from 30 kWs to 10 MWs that operate on a variety of fuels and are the ideal solution for today's multi-technology distributed power generation projects.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: firstname.lastname@example.org. To date, Capstone has shipped nearly 10,000 units to 83 countries and, in FY20, saved customers an estimated $219 million in annual energy costs and 368,000 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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Released October 15, 2020