Capstone Receives Multiple Orders Totaling 6.4MW from E-Finity for Marcellus and Utica Shale Plays
CHATSWORTH, Calif., Jan. 9, 2014 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today it recently received multiple orders from E-Finity Distributed Generation for microturbines to be used for oil and gas operations in the Marcellus and Utica Shale regions.
E-Finity Distributed Generation, Capstone's exclusive oil and gas distributor for the Marcellus and Utica Shale plays, has secured multiple orders totaling 6.4MW of electric power. The orders came from two of their current customers and two new customers.
"It is great to see that as the regional shale gas production grows, more and more customers are turning to Capstone for their power solution needs. They are finding value in our quiet, scalable, and reliable microturbines," said Jeff Beiter, Managing Partner for E-Finity.
One of E-Finity's current customers is expanding an existing gas transmission station in Pennsylvania, a 2011 EPA Energy Star Award site. The combined heat and power (CHP) system consisting of three C65 ICHP units will be replaced with a Capstone C800 Power Package and a heat recovery system producing 4 million BTUs of hot water. The hot water will be used for heating fuel gas for the compressors and building heat, alleviating the need for ancillary equipment traditionally used for this process.
Another repeat customer of E-Finity, an E&P and transmission company operating in West Virginia and Pennsylvania, purchased multiple C1000 Power Packages to replace aging reciprocating engine-driven generators, reducing the overall footprint of the power generation equipment in their existing facilities.
A third order came from a major midstream company and new customer to Capstone and E-Finity. They selected a C800 low emission power package as the three-phase power source for a new compression facility. The microturbines will significantly reduce site emissions generated from traditional generators and allow the customer to increase continuous onsite power production without needing additional air permitting. Due to the construction schedule and location, utility grid power was not an option. The customer has indicated they are going to standardize on Capstone for their West Virginia operations.
"We continue our remarkable penetration of the North American shale gas market with another six megawatts from new and existing customers," said Darren Jamison, Capstone President and Chief Executive Officer. "North American shale gas producers are continuing to adopt Capstone microturbines because they want the high reliability and low emission benefits of our products," Jamison added.
"The oil and gas market continues to be our fastest growing market worldwide," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "From the Eagle Ford, Marcellus and Utica shale plays in the United States to the oil fields of Russia, Capstone microturbines are becoming the go-to power source for producers that want extremely reliable and low emission onsite power solutions."
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 7,000 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, Mexico City, Nottingham, Shanghai and Singapore.
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This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the growth of the oil and gas market and the advantages of our products. 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.
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Released January 9, 2014