Capstone Turbine Corporation Names Target Energy Inc. as Its Distributor in Turkey
CHATSWORTH, Calif., June 22, 2010 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, has named Target Energy Inc. as its distributor in Turkey.
Target Energy Inc., based in Ankara, Turkey, has been providing innovative, renewable and clean energy solutions to the Turkish energy sector since 2008. Target Energy offers energy technologies and services designed to protect the environment, help overcome global climate change, improve living conditions and mitigate negative impacts of traditional energy sources.
As a Capstone distributor, Target Energy will sell and service low emission Capstone turbines and microturbines for such Turkish business sectors as hospitality, residential, education, health care, offices, retail, recreation, industrial, government, landfills, water waste treatment plants, agriculture/biogas, oil and gas (onshore and offshore) and telecommunications.
Because Turkey's demand for energy is rapidly increasing, the country has become heavily dependent on imported energy resources, especially from Russia. The country imports nearly 72 percent of its energy needs from abroad. This reliance on imported energy places a significant burden on the economy and makes security of all energy supplies critical.
"Turkey's energy future is grim because of insufficient domestic energy supplies and a history of spiking electricity costs," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "Capstone's presence in Turkey can help the country diversify its energy sources by providing various industries with reliable, energy-producing microturbines."
"The radical expansion of energy production and consumption in Turkey has created a number of environmental issues," said Alp G. Önyürü, Target Energy Inc. General Manager. "Air pollution from carbon dioxide emissions is becoming a significant environmental concern. Clean and reliable energy sources such as Capstone's products can be highly efficient and effective solutions to build Turkey's sustainable energy development."
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 the advantages of our products and use of our products in Turkey. 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.
CONTACT: Capstone Turbine Corporation Investor and investment media inquiries: 818-407-3628 ir@capstoneturbine.com
Released June 22, 2010