Capstone Receives Order for $2.4 Million from Global Oil & Gas Company
CHATSWORTH, Calif.--
Capstone Turbine Corporation (www.microturbine.com) (Nasdaq:CPST), the world's leading manufacturer of microturbine energy systems, today announced that it has received an order for $2.4 million from a global oil and gas company.
"We are delighted to receive this significant order from an integrated company involved in exploration and production, refining, and distribution including natural gas and energy," said Jim Crouse, Capstone's Executive Vice President of Sales. "In addition to providing high quality products and services, the company is deeply concerned about their social responsibilities and takes environmental preservation seriously," added Crouse.
The company has numerous production platforms and refineries and thousands of miles of ducts and gas stations. The Capstone microturbines supplied to this customer will be specifically designed to survive in high humidity climates.
"We have been working hard to increase our market presence in the oil and gas sector. We know that our product is a great fit in this market, and are very pleased to have received this large and significant order," said Darren Jamison, President and CEO of Capstone Turbine Corporation. "As we have previously stated, Capstone microturbines are a perfect solution to reliably power oil and gas producing operations using natural gas or unprocessed wellhead gas to generate continuous power. Capstone solutions require little maintenance and avoid fuel transport and disposal of hazardous lubricants," added Jamison.
Capstone also offers an integrated microturbine package to meet the special requirements of offshore applications. This includes corrosion protection with a 316 stainless steel enclosure, optional Class I Division 2/NFPA 496 certification for use in hazardous areas, and UL listing. The Capstone offshore package includes an energy storage system to start the microturbine and provide momentary power during abrupt load changes. The result is highly regulated voltage and frequency regardless of load changes. These compact, self-sufficient systems are perfect for unmanned platforms and have onshore dispatch, monitoring and diagnostics capability.
"Capstone has extensive operating experience in the Gulf of Mexico, Alaska, Mediterranean, Adriatic, North Sea, Southeast Asia, and the South Atlantic," Jamison said.
About Capstone Turbine
Capstone Turbine Corporation (www.microturbine.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 thousands of Capstone MicroTurbine(TM) 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 9001:2000 certified company; Capstone Turbine is headquartered in the Los Angeles area with sales and/or service centers in New York, Mexico City, Milan, Nottingham, Shanghai and Tokyo.
"Capstone Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about new sales opportunities for Capstone, in particular, in the oil and gas sector. 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.
Source: Capstone Turbine Corporation
Released August 30, 2007
