Capstone Receives C1000 Order for Exclusive Resort in the U.S. Virgin Islands
CHATSWORTH, Calif., Aug. 12, 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 a one megawatt C1000 order to power an exclusive resort in the U.S. Virgin Islands.
The order was secured by Energy Systems of the Caribbean, Capstone's distributor in the region. The resort was providing power to their facility with a costly, dated, and inefficient diesel reciprocating engine and was looking for a more cost effective, environmentally friendly and reliable alternative. They turned to Energy Systems of the Caribbean and Capstone Turbine to provide a clean and green solution that also lowered their operating cost.
The high and volatile price of electricity is the most important issue in the Caribbean energy sector. Electricity prices in the Caribbean are among the highest in the world. The primary cause of the high cost of electricity is that most Caribbean countries use diesel or heavy fuel oil for electricity generation. These fuels are expensive and their prices fluctuate greatly based on the global price of oil.
The resort selected a one-megawatt microturbine fueled by cleaner and cheaper propane gas to provide power to their facilities. Additionally, the exhaust from the microturbine will be utilized to drive a 250-ton absorption chiller, providing air conditioning for the facility. The unit will provide 24/7 prime power for the resort. The dual mode microturbine is also capable of running in parallel with the local utility, allowing the resort maximum operational flexibility and efficiency.
The primary reason the resort selected Capstone was the cost savings gained, attributed to the microturbines' high efficiency, low maintenance, and dependability. Deployment in a cogeneration application ensures the resort is maximizing the efficiency of their power generation while simultaneously reducing their payback period. Also, the microturbines do not require any lubricants or coolants to operate, which significantly reduces maintenance costs as well as environmental impact.
"More and more customers are recognizing the value of using Capstone products to be more in control of their energy costs, while improving efficiency and reducing their environmental impact," said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. "We are excited to see an increasing number of facility owners turn to Capstone solutions to power their business and achieving energy independence."
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 reduced costs, improved efficiency, and the environmental 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 August 12, 2014