Capstone Holds Regional Strategy Meetings in Kazakhstan to Grow Presence in Russian, CIS Market – Secures Two New Orders from Participating Partners
CHATSWORTH, Calif., March 27, 2017 (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 held a series of collaborative sales and marketing meetings in Almaty, Kazakhstan with seven of its regional distributors. The meetings are part of an ongoing effort to rebuild, strengthen and diversify the company’s overall presence in Russia and the surrounding Commonwealth of Independent States (CIS).
Synergy Astana, Capstone’s new distributor for Kazakhstan, hosted the meetings, which were led by Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing and Capstone’s Regional Sales Director, Kay Scholz, who recently relocated to Almaty. The in-person meeting permitted for open discussions on distributor best practices, product sales techniques, product and sales pipeline updates, and the effective use of Capstone’s customer relationship management (CRM) tool. Representatives from BMTec, BPC Engineering, DV Energy, Electrosystems, GESS Consulting Ukraine, Synergy Astana, and Thermoflex brought new and exciting ideas to the table and provided key market intelligence with updates for their individual territories.
“The recent meetings in Kazakhstan were well received by our local area distributors, and we look to continue the collaborative conversations as we move into the next fiscal year,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “Constructive meetings like these are allowing Capstone to explore new growth opportunities while sharing ideas with the people who know the local regions inside and out,” added Mr. Jamison.
As a result of its revamped growth strategy in Russia and CIS, Capstone announced two new orders from the region. BPC Engineering, Capstone’s distributor in Belarus and Russia, secured a follow-on order for a C1000 Signature Series microturbine, for immediate shipment. Concurrently, Electrosystems, another Capstone distributor in Russia, secured an order for a C65 microturbine, which is also for immediate shipment.
“The rebuilding of our business in Russia and the surrounding CIS area continues to go well as BPC Engineering was back up to 16% of our total revenue during the last quarter. BPC paid and took delivery of four Signature Series C1000 microturbines last quarter, which to date was the best performance in over two years. Securing an additional unit this quarter was another positive development in our rebuilding process,” added Mr. Jamison.
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 9,000 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 9001:2015 and ISO 14001:2015 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 and Asia.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the expansion of Capstone’s distribution channel, as well as the growth and rebound of the Russian and CIS markets. 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
Released March 27, 2017
