Capstone Continues to Develop its CHP and CCHP Market with 2.2MW of New Signature Series Product for Two of the Largest Office Towers in New York City
CHATSWORTH, Calif., April 03, 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 received an order for a C1000S microturbine and two C600S microturbines to enhance two of the largest office towers currently under construction in New York City. RSP Systems, Capstone’s distributor for the greater New York area and Connecticut, secured the order, which is expected to be commissioned in 2019.
“We continue to successfully diversify our market verticals by concentrating on CHP and CCHP as energy efficiency is a big growth market for us globally,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “Our recently launched C1000S Signature Series product is targeted directly at customers like hotels, office buildings, hospitals, retail and industrial applications and I’m proud to say the Signature Series product is performing exceptionally well and exceeding most customers’ expectations,” added Mr. Jamison.
Three natural gas-fueled Signature Series microturbines will be installed in two separate combined cooling, heat and power (CCHP) applications and operate in parallel with the electrical grid. The clean waste heat from the microturbines will be used to provide domestic hot water, space heating and cooling based on seasonal needs.
In addition, RSP Systems placed a separate order for two C65 microturbines as part of Hurricane Sandy Relief for a residential housing complex on the Lower East Side of Manhattan. The retrofit project will strengthen the durability of the facility by providing backup power during utility outages. The installation is expected to be commissioned in late 2017.
“Both projects were undertaken based on only the commercial viability of the Capstone microturbines in a CCHP application, and without any grant money required to support the economics like other clean technologies that are reliant on tenuous government subsidies,” said Cory Glick, RSP Systems’ President. “We are delighted that clients are utilizing Capstone microturbine technology purely based on the independent savings benefits they inherently provide,” added Mr. Glick.
According to the U.S. Energy Information Administration (EIA), the price of natural gas in New York City has decreased exponentially over the last year. New York’s total energy consumption ranks among the highest in the nation, yet state emissions from electricity generation have declined since 2000 due to increased natural gas use.
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 advantages and performance of our Signature Series product offerings as well as the successful diversification of market verticals in the CHP and CCHP 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 April 3, 2017
