Capstone Secures 6MW Order from Repeat Customer in Cartagena, Colombia
CHATSWORTH, Calif., April 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 six of its new C1000 Signature Series microturbines for a repeat customer in Cartagena, Colombia.
Supernova Energy Services S.A.S., Capstone’s Colombian distributor, secured this new order, which will be rolled out in three phases starting January 2017.
Darren Jamison, President and Chief Executive Officer of Capstone, said, “Colombia has become our largest market within South America over the last year and continues to provide strong growth opportunities, specifically in the industrial combined heat and power (CHP) market vertical.”
“Improving our geographic diversification is a key strategic initiative, and our efforts are resulting in significant new bookings from areas that include Mexico, South America, Eastern Europe, Australia, China, Africa and the Middle East. Concurrently, the energy efficiency and CHP market vertical continues to show steady growth and is offsetting the downturn we have been experiencing in the oil and gas markets,” added Mr. Jamison.
The first phase, which is comprised of two natural gas-fueled C1000s, will be installed in a combined cooling, heat and power (CCHP) application and operate in stand-alone mode. The microturbines will provide primary electricity and district cooling for several buildings currently under development, including a hospital and a hotel. The second and third phases, which involve the remaining four C1000s, will be rolled out soon thereafter. The energy requirement of the project could reach a total of 10MW, which would require four additional C1000s.
Capstone microturbines were selected for this project due to their high reliability, low maintenance and demonstrated total system efficiency when deployed in a cogeneration capacity. Capstone is at the forefront of green building technology, ensuring that both new and existing energy infrastructures are compliant with future emissions laws while simultaneously reducing operational expenses.
According to the U.S. Energy Information Administration (EIA), natural gas consumption in Colombia is consistently rising. Colombia is an entirely self-sufficient country with its natural gas supply, making energy efficiency and CHP attractive options for commercial and industrial applications.
“Supernova is constantly pursuing new business inroads across numerous market verticals,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone. “Their expertise, paired with Capstone’s leading-edge technology, allows them to identify the most ideal solution to significantly reduce their clients’ energy costs, boost operational efficiency and help meet their sustainability goals,” 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 has shipped approximately 8,700 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 the advantages of our product and CHP applications, the growth of the CHP market, and the market growth in Colombia. 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 April 4, 2016
