Capstone’s New Russian Distributor Powers Far Eastern Federal District Railway Station
CHATSWORTH, Calif., Oct. 14, 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 recently shipped a C800 Signature Series microturbine to the Russian Far Eastern Federal District to power a railway station. The project is expected to be commissioned in December 2016.
DV Energy LLC is Capstone’s new combined heat and power (CHP) distributor for the Far Eastern Federal District and serves all of Capstone’s market segments except oil and gas. DV Energy was chosen to be a Capstone distributor because of its established connections in the region and experience in service and maintenance. This territory has historically been a difficult region to develop because of challenges such as permafrost, sparse population and limited access to other regions of Russia.
Additionally, electricity from the utility is costly in the Far Eastern Federal District and the service is unreliable. The natural gas-fueled C800S microturbine will provide all the power for the main railway station building, reducing its operational costs and eliminating the uncertainty of grid fluctuations. The microturbine will operate in grid connect mode, which enables the utility to act as a backup power source should it be needed.
“Part of our strategic plan is to rebuild our Russian business by adding additional distributors in Russia and the Commonwealth of Independent States (CIS). The addition of DV Energy is another example of our continued commitment to execute our strategic plan to reach profitability as quickly as possible,” said Darren Jamison, President and Chief Executive Officer of Capstone.
“We are excited that DV Energy is representing Capstone in this region. We are already seeing the results of their efforts with their first C800 Signature Series microturbine shipment and a growing pipeline of new opportunities,” said Jim Crouse, Executive Vice President of Sales and Marketing of Capstone.
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 8,800 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 United States, Latin America, Europe, Middle East, China and Singapore.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about attaining profitability, the success of our new distributor and sales into the Far Eastern Federal District in Russia. 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 212-825-3210
Released October 14, 2016
