Photo Release -- California Senator Barbara Boxer Tours Capstone Turbine Corporation
CHATSWORTH, Calif., Aug. 18, 2010 (GLOBE NEWSWIRE) -- U.S. Senator Barbara Boxer yesterday toured Capstone Turbine Corporation's manufacturing plant and global headquarters in Chatsworth, Calif., to learn more about the company's clean-and-green energy technology, acknowledge Capstone for creating U.S. clean tech manufacturing jobs and recognize the company for its success exporting U.S. made energy products overseas.
A photo accompanying this release is available at https://www.globenewswire.com/newsroom/prs/?pkgid=7891
Fast-growing Capstone (www.capstoneturbine.com) (Nasdaq:CPST) is the world's leading clean technology manufacturer of microturbine energy systems. The 185 employee company has grown approximately 40 percent year over year each of the past two years despite the global economic downturn.
During her visit, the Senator met with Capstone executives and discussed the need for a comprehensive climate and energy policy in the U.S. that will reduce greenhouse-gas emissions and add clean-energy technology jobs in California and the U.S.
Senator Boxer, who chairs the Senate Committee on Environment and Public Works, has been a strong proponent of creating clean energy jobs and fighting global warming. Last year, she joined with Massachusetts Senator John Kerry to write the Clean Energy Jobs and American Power Act of 2009, legislation aimed at reducing America's dependence on foreign oil, addressing global warming and creating millions of clean energy jobs.
"It was an honor to host Senator Boxer and show her how microturbine technology contributes to the fight against local pollution and global climate change," said Darren Jamison, Capstone President and CEO. "She understands that government support of this type of clean technology creates green-collar jobs across the nation. Capstone encourages the U.S. government to develop strong policies and regulations that will reward companies that install low-emission energy products made and sold in the USA."
"Many Capstone distributors and customers in the U.S. are looking for ways to finance projects that feature microturbines or other clean-energy technologies," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "We welcome the Senator's proposal to free up capital markets so more green-energy projects can be deployed in the United States."
Capstone's low-emission microturbines are one of the cleanest combustion technologies available today. Thousands of these award-winning systems are installed around the world producing anywhere from 30 kilowatts to 5 megawatts of clean, low-emission power in office buildings, hospitals, data centers, landfills, wastewater-treatment plants, agricultural operations, hotels, schools and universities, offshore oil rigs, remote natural-gas pumping stations, and even hybrid-electric buses and trucks.
In 2009, the company received the President's "E" Award for Exports from the U.S. Department of Commerce. A year earlier, the Commerce Department honored Capstone with a Certificate of Export Achievement. In June 2010, Capstone officials participated in the first U.S. International Trade Mission to China under the Obama Administration.
Capstone clean-technology research and development efforts continue at a rapid pace this year. The company recently developed the Capstone Drive Solution for hybrid-electric trucks, buses, construction equipment and marine applications. The Drive Solution makes it easy for vehicle, equipment manufacturers and boat builders to integrate Capstone C30 and C65 microturbines into a series hybrid-electric vehicle or vessel, thus reducing emissions and increasing efficiency.
In July, Capstone and an Israeli firm successfully demonstrated a prototype product that converts sunlight to electricity with a solar receiver driving a microturbine. In May, the U.S. Department of Energy invited Capstone to participate in a development program valued at $5 million to develop a more efficient, revolutionary microturbine design with a projected electrical efficiency of 42 percent and power output of 370 kilowatts.
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 Turbine has shipped over 5,000 Capstone MicroTurbine(R) 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, Mexico City, Nottingham, 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 job creation, exports, government support of our technology and increased access to capital 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 Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.
CONTACT: Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com
Released August 18, 2010
