Capstone Continues to Diversify its Business with Project in West African Village
CHATSWORTH, Calif., April 10, 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 secured an order for a C600S microturbine to provide prime electrical power for a small community in Mali located in West Africa. The 600kW Signature Series, dual mode microturbine will provide stand-alone power, and is the first to be installed in Mali.
Darren Jamison, President and Chief Executive Officer of Capstone, said, “Our focus continues to be fixed on diversifying our customer base and geographic presence while increasing our business in the CHP or energy efficiency markets. Africa is a new growth market for Capstone and an important part of our strategic initiative. Since launching the initiative, we have sold products into South Africa, Nigeria, Algeria, Tunisia and now Mali.”
The customer, KAMA-SA, believes that the application will be repeated in other cities and villages in West Africa in the near future. The order is expected to be commissioned in August 2017. KAMA-SA selected Capstone microturbines because of their ability to run butane, which is a locally available, economical and clean-burning fuel. The customer also recognized the advantages of Capstone’s air bearing technology, which means there is no need for oil changes, reducing maintenance cost and down time in the remote location.
“This is another project highlighting Capstone’s ability to meet the varying needs of our global customer base,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “We continue to expand our ability to burn a wide variety of fuels, driving new opportunities around the globe,” added Mr. Crouse.
According to the International Energy Agency (IEA), access to electricity in Sub-Saharan Africa still lags behind the rest of the world due to the scarcity of capital and other factors. Economic growth and living conditions are severely constrained by a lack of reliable power generation capacity.
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 of our Signature Series product offerings and our air bearing technology, diversification of our customer base, expansion of our geographic presence, and growth in the CHP and energy efficiency 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 10, 2017
