Capstone Distributor DV Energy Secures Repeat Order for Five C200S Microturbines for an Infrastructure Project from The Railways of Yakutia
VAN NUYS, CA / ACCESSWIRE / February 18, 2020 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today it secured a repeat order for five C200 Signature Series microturbines for a federal railway infrastructure project from The Railways of Yakutia. DV Energy, Capstone's distributor in the Far Eastern Federal District in Russia, secured the 1.0 megawatt (MW) order, which is expected to be commissioned in November 2020.
"We continue to see growth in Europe and Russia as our business in those regions expanded 20% year-over-year," stated Darren Jamison, Capstone Turbine President, and Chief Executive Officer. "DV Energy is doing a great job representing Capstone in the Far Eastern Federal District and becomes a top 25 global distributor of ours with this most recent win," added Mr. Jamison.
The natural gas-fueled C200S microturbines will act as the primary power source for the Aldan Railway Station and provide heating for the main building, reducing its operational costs and eliminating the uncertainty of grid fluctuations. The microturbine will operate in grid connect mode, which enables the customer to operate with the utility in a load sharing capacity.
In addition to generating on-site power and heating, the microturbines will help railway operators meet key strategic sustainability targets for increased energy efficiency. Capstone Turbine's innovative technology was selected for its scalability, resiliency, and ability to reduce energy costs while producing ultra-low emissions reliably.
The Russian railway system is the third-longest rail network in the world, with more than 85,000 kilometers (52,800 miles). The rail system is the primary mode of transportation in Russia, accounting for about 88% of the country's transportation system. According to the International Energy Agency (IEA) and the International Union of Railways, the Russian Railways is one of the most energy-efficient railway companies in the world.
"Russia, with its harsh environments, has historically been a very good market for us and currently has over 1,400 units in operation in the region," stated Jen Derstine, Capstone's Vice President of Marketing and Distribution. "We are seeing steady sales growth in Russia as we continue to diversify and expand our focus on combined heat and power (CHP) projects from predominantly oil and gas applications. Russia holds a tremendous opportunity for distributed generation technologies," concluded Ms. Derstine.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) is the world's leading producer of highly efficient, low-emission, resilient microturbine energy systems. Capstone microturbines serve multiple vertical markets worldwide, including natural resources, energy efficiency, renewable energy, critical power supply, transportation, and microgrids. Capstone offers a comprehensive product lineup, providing scalable systems focusing on 30 kWs to 10 MWs that operate on a variety of gaseous or liquid fuels and are the ideal solution for today's distributed power generation needs. To date, Capstone has shipped over 9,000 units to 73 countries, and in FY19 saved customers an estimated $253 million in annual energy costs and 350,000 tons of carbon.
This press release contains "forward-looking statements," as that term is used in the federal securities laws. Forward-looking statements may be identified by words such as "expects," "believes," "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 February 18, 2020