Capstone Turbine Secures 3MW Order to Upgrade State-of-the-Art Glasshouse in South Australia
CHATSWORTH, Calif., Dec. 8, 2014 (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 an order from Optimal Group for three C1000 microturbines to upgrade D'VineRipe's 27 hectare glasshouse located at Two Wells in South Australia.
Optimal Group, Capstone's Australian distributor, secured the order, which is expected to be installed and commissioned in April 2015. Earlier this year, Capstone received an order from Optimal Group for fifty C65 microturbines with integrated heat exchangers for the launch of its microturbine based rental fleet. The D'VineRipe glasshouse project will increase the total amount of Capstone microturbine power in Australia to 18MW.
According to the National Farmers' Federation, 99 percent of Australian farm businesses are family owned and operated. Agricultural commodities play a vital role in Australia, contributing to social, economic, and environmental sustainability.
D'VineRipe is one of the largest producers of glasshouse grown tomatoes in Australia. The facility is fully reliant on power from diesel generators to help produce quality vine ripened tomatoes for local markets. As a part of its Two Wells site expansion, D'VineRipe explored solutions that would both reduce greenhouse gas emissions and provide more reliable power. The benefits of implementing Capstone microturbines and the flexibility of the application made for an easy decision to switch from the facility's aging diesel generator sets.
"We were attracted to the Capstone Microturbine technology with its ability to respond rapidly to load fluctuations due to its unique inverter based control system and onboard battery pack," said Byron Mason, Project Manager for D'VineRipe. "The three natural gas powered C1000s will reduce our reliance on diesel, reduce our cost of power, and reduce our CO2 emissions. The Capstone Microturbine solution will be the backbone of our future power needs," added Mason.
"Electricity prices in Australia have nearly doubled over the past few years," said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. "We see Australia and South America as potentially high growth markets as local businesses start exploring the economic and environmental advantages our microturbines offer over conventional reciprocating diesel generators," added Crouse.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST) is the world's leading producer of low-emission microturbine systems and was the first to market commercially viable microturbine energy products. Capstone Turbine has shipped approximately 8,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone Turbine is a member of the U.S. Environmental Protection Agency's Combined Heat and Power Partnership, which is committed to improving the efficiency of the nation's energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO 9001:2008 and ISO 14001:2004 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the New York Metro Area, United Kingdom, Mexico City, Shanghai and Singapore.
The Capstone Turbine Corporation logo is available at https://www.globenewswire.com/newsroom/prs/?pkgid=6212
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of our products and the growth of the Australian and South American markets. Forward-looking statements may be identified by words such as "expects," "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: 818-407-3628 firstname.lastname@example.org
Released December 8, 2014