Capstone Turbine (NASDAQ:CPST) Secures a 1.2 Megawatt Order as the European Energy Efficiency Market Continues to Rebound
A Leading Manufacturer of Construction Materials in Romania Orders Two C600S Microturbines to be Installed in a High Efficiency Cogeneration Plant
VAN NUYS, CA / ACCESSWIRE / September 9, 2020 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it has received an order for two natural gas-fueled C600 Signature Series (C600S) microturbines for CEMACON SA a leading manufacturer of construction materials that include bricks, ceramic blocks, plywood and mineral powders. Servelect, Capstone's exclusive distributor in Romania (www.servelect.ro), secured the 1.2 Megawatt (MW) order, with an estimated commission date of February 2021.
"This new 1.2 MW contract is continued proof of the ongoing rebound we are experiencing from the energy efficiency markets in Europe. In the last 60 days, we have seen significant product and service wins from the United Kingdom, Germany, Austria, Italy, Slovenia and now Romania as businesses in Europe return to work following the COVID-19 pandemic," stated Darren Jamison, President and Chief Executive Officer of Capstone Turbine Corporation. "Servelect is an ESCO (Energy Services Company) specialized in offering energy efficiency solutions in Romania as the country endeavors to become more energy efficient in order to make a positive impact on its people and the environment," added Mr. Jamison.
Currently, in Europe, cogeneration supplies 11% of the electricity and 15% of the heating demand. Using a single fuel source, Capstone microturbines can be easily integrated to capture thermal energy produced from the clean exhaust to provide a significant economic advantage to end-users and our society.
Founded in 1969, CEMACON SA has 50 years of experience producing premium construction materials and masonry solutions. As the undisputed leader of the Romanian brick market, CEMACON is synonymous with advanced building construction and actively promotes the concept of green and efficient construction solutions. Recently CEMACON sought an energy solution that would help optimize their energy consumption and lower their greenhouse gas emissions. CEMACON partnered with Servelect for the implementation of an on-site cogeneration plant that could help them achieve their cost and carbon goals.
The new on-site cogeneration plant will include two natural gas-fueled C600S microturbines with an electrical capacity of 1.2 MWs. The electricity generated by the microturbines will meet the base demand of the manufacturing plant, and the exhaust gases will be fed into a steam boiler to provide heat for the manufacturing process. Capstone's microturbines are designed to help end-user customers improve their environmental impact while meeting critical power and reliability requirements.
The project is eligible for incentive funding from the European Regional Development Fund (ERDF) thanks to the high energy efficiency of the microturbine systems that will enable the plant to reduce energy consumption by 31.6% and reduce emissions by a minimum of 2,772 tons of CO2 a year. The incentive was created to promote clean energy and energy efficiency in supporting a low carbon economy with the specific objective of fostering sustainable energy growth, reinforcing the security of the energy supply, and reducing greenhouse gas emissions.
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, via our direct sales team, as well as our global distribution network. Capstone provides scalable solutions from 30 kWs to 10 MWs that operate on a variety of fuels and are the ideal solution for today's multi-technology distributed power generation projects.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: email@example.com. To date, Capstone has shipped nearly 10,000 units to 83 countries and in FY20, saved customers an estimated $219 million in annual energy costs and 368,000 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.
"Capstone" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
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Released September 9, 2020