Capstone Turbine Corporation Receives Third Service Blanket Order Valued at $8.6 Million From Petroleos Mexicanos (PEMEX)
CHATSWORTH, Calif., July 14, 2011 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean-technology manufacturer of microturbine energy systems, today announced that it received another comprehensive fleet-wide service blanket order with Petroleos Mexicanos (PEMEX), the fourth largest crude oil producer in the world. Capstone has received service blanket orders from PEMEX since 2007 for fleet-wide service support.
This new $8.6 million multi-year service blanket order will cover PEMEX's entire 44 unit microturbine fleet. The fleet generates low-emission power for manned and unmanned PEMEX oil platforms throughout the Gulf of Mexico. PEMEX selected Capstone microturbines because of the microturbines' reliability in dangerous environments and to meet its own strict environmental requirements.
Industrias Energeticas, Capstone's distributor headquartered in Campeche, Mexico, secured this new blanket order, which ensures blanket service support coverage for PEMEX's fleet of microturbines installed on satellite platforms on the North and Northeast regions of the Gulf of Mexico. The microturbines are specially designed for hazardous Class 1 Division 2 environments.
The microturbines, which operate on sour gas and wellhead gas that flows through offshore platforms, replaced high-maintenance diesel generators. The microturbines provide continuous power for each platform's SCADA, fire and gas, emergency stop, communication, lighting, and auxiliary systems. The full service blanket order issued to Capstone ensures utmost reliability of the microturbine fleet through maintenance services, employee training, spare parts, and 24/7 technical support.
"PEMEX has been a Capstone customer since 2002," said Juan Carlos Hernandez, Industrias Energeticas' CEO. "PEMEX officials continue to issue blanket orders and add microturbines to their growing fleet to maintain PEMEX's high production levels. PEMEX is environmentally-focused and the Capstone microturbines provide them a clean and reliable generation system that run safely in hazardous locations, takes up minimal space because of the small footprint, and requires very limited maintenance. This new service blanket order demonstrates PEMEX's satisfaction with the microturbines and support we have provided to their critical operations."
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 over 5,000 Capstone MicroTurbine(R) 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, Mexico City, Nottingham, Shanghai and Singapore.
The Capstone Turbine Corporation logo is available at https://www.globenewswire.com/newsroom/prs/?pkgid=6212
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the environmental advantages and reliability of our products and PEMEX's satisfaction with our products and support. 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.
"Capstone" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
CONTACT: Capstone Turbine Corporation Investor and Investment Media Inquiries: 818-407-3628 ir@capstoneturbine.com
Image: company logo
Source: Capstone Turbine CorporationReleased July 14, 2011