Capstone Receives 4.6MW Order from Horizon Power Systems for Flare Gas Project
CHATSWORTH, Calif., Jan. 04, 2016 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world’s leading clean technology manufacturer of microturbine energy systems, announced today that it received an order for three C800 systems and two C1000 systems for a total of 4.6 Megawatts for a large flare gas energy project in North America from Horizon Power Systems.
“The global slowdown in the energy industry is shifting customers away from exploration to an increased focus on lowering operating costs at existing assets and converting on-site flare gas to power generation. This is one way Capstone microturbines can be used to lower oil and gas users, monthly operational costs," said Darren Jamison, Capstone's President and Chief Executive Officer. "We have recently added additional oil and gas sales resources at Capstone, and we are encouraging our key distribution partners, like Horizon, to do the same," added Mr. Jamison.
Horizon Power Systems is the exclusive Capstone Turbine distributor for Texas, Oklahoma, Kansas, Arizona, the Rocky Mountain States, Intermountain Regions, Gulf Coast States and the Western Provinces of Canada. The new orders will bring Horizon’s total fleet to more than 600 microturbines in operation.
The Capstone product was chosen because of its superior overall value proposition. No other microturbine manufacturer provides the combination of presales and aftersales support that the Capstone distributor network provides.
“Capstone microturbines have become the preferred choice for our customers because they want the high reliability and low emission benefits of our products,” said Sam Henry, President of Horizon Power Systems. “Additionally, customers need solutions that can burn poor quality flare gas and operate in extremely harsh environments, which is precisely what Capstone microturbines deliver 24 hours a day, 365 days per year,” added Mr. Henry.
Capstone continues to attract new and repeat customers globally. These orders help demonstrate the confidence our distributors and end users have in Capstone’s low emission, durable and highly efficient microturbines and why Capstone is their first choice for around-the-clock on-site energy production.
“Our inverter based generation systems provide flexibility that very few other solutions can provide,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “Capstone microturbines have become the go-to power source for customers that want extremely reliable, high quality, easy to deploy and low emission on-site power solutions. The Horizon order indicates our customers’ satisfaction with our clean and green solutions,” added Mr. 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 over 8,600 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.
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 growth of the oil and gas market and the advantages 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.
"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 INVESTORS: Dian Griesel Int’l Cheryl Schneider/Tom Caden 212-825-3210
Released January 4, 2016
