Capstone Receives Orders for Twenty-Five C65s From E-Finity Distributed Generation
CHATSWORTH, Calif., Aug. 11, 2014 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, today announced the receipt of orders for 25 Capstone C65 microturbines, totaling 1.6MW, for use in various commercial industrial combined heat and power (CHP) and oil and gas applications in the Mid-Atlantic United States.
E-Finity Distributed Generation, Capstone's distributor for the Mid-Atlantic and Southeastern U.S., secured the significant follow-on business.
A number of the C65s will be deployed in CHP and CCHP applications in the Mid-Atlantic territory for use at a university and in multi-family housing complexes. The units will burn natural gas and produce base load electricity as well as hot water and/or chilled water at many of the sites. The modular, small and versatile C65 units allow for easy installation and will be located on rooftops or with existing mechanical building equipment.
"Property owners are gaining power independence through E-Finity Distributed Generation and Capstone microturbines. They are realizing that Capstone turbines are a great fit for the developing small scale CHP and CCHP market since they can be used for backup power in the case of a utility outage from a natural disaster or weather-related incident," said Jeff Beiter, Managing Partner for E-Finity.
The remaining portion of the 25-unit order was sold into midstream operations throughout the Marcellus and Utica shale formations. The C65 units will be included in E-Finity's packaged skid solutions. The self-contained scalable skids allow for quick deployment or redeployment of site power and feature single point electrical and fuel connections reducing installation and engineering costs.
"Capstone microturbines have a wide range of applications, including cogeneration and oil and gas production," said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone. "This versatility has been integral to the success of our business. Our low emissions, reliability, and low operating cost make us the preferred choice in many industries and we will continue to leverage our demonstrated success in each market we serve," 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 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 CHP and CCHP applications and the versatility 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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CONTACT: Capstone Turbine Corporation Investor and investment media inquiries: 818-407-3628 email@example.com
Released August 11, 2014