Capstone Receives Two Orders Totaling 2.6MW From Regatta Solutions for Prominent Southern California Hospitals
CHATSWORTH, Calif., March 4, 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 received orders for two Capstone C800s and a Capstone C1000 to be used in two Southern California hospitals.
Regatta Solutions secured the first order for two Capstone C800 Natural Gas fueled microturbines to be installed at a Los Angeles hospital. The microturbines will be used in a CHP (Combined Heat and Power) application to offset the facility's electric base load in addition to providing steam and hot water, boosting their overall site efficiency. The facility chose Capstone microturbines due to their low maintenance, low emissions, and high overall efficiency. Capstone microturbines do not require lubricants or coolants and have few maintenance intervals, providing the hospital with lower operating costs. This customer was also able to take advantage of California's SGIP (Self-Generation Incentive Program), which provides incentives to support existing, new, and emerging distributed energy resources.
Vice President of Regatta Solutions, Kenda Burkhart, stated, "It is great to see the continued adoption of Capstone Turbine technology in the healthcare industry. The market as a whole is realizing that implementing clean and green CHP technology will deliver substantial improvements in their overall efficiency and reduce their facility's operating expenses." The site is expected to be commissioned in late 2014.
Regatta Solutions secured the second order for a Capstone C1000 natural gas microturbine to be installed at another hospital in Los Angeles. The microturbine will be deployed in a CCHP (Combined Cooling Heat and Power) application, offsetting the electric base load while also utilizing the exhaust heat to provide absorption chilling. By utilizing the microturbine in a CCHP configuration along with the added benefit of the project qualifying for over $500,000 in California SGIP incentives, the hospital is able to reduce the payback period, making it the clear choice from a financial standpoint. California has the strictest emission requirements in the world, making Capstone microturbines a clear choice because they can meet these standards without any pre or post treatment of the exhaust.
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, United Kingdom, Mexico City, 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 advantages of our products, adoption of our products in the healthcare industry and compliance with California emissions requirements. 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 March 4, 2014