CHATSWORTH, Calif., Jan. 11, 2016 (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 C600 microturbine package to upgrade a Colombian hotel.
Supernova Energy Services S.A.S., Capstone’s Colombian distributor, secured the order, which is expected to be commissioned in April 2016.
“This order is significant as it impacts both areas we are focusing on to get our revenue growing again,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “In addition to the company’s traditional oil and gas business, Capstone is focused on making new inroads into CHP and focusing more heavily on global sales, especially in Australia, Africa, the Middle East and Latin America. As we diversify the business profile, both geography and vertical markets, I think we’ll be an even more resilient company,” added Mr. Jamison.
The natural-gas-fueled C600 microturbine will be installed in dual mode and provide primary power and chilled water to the hotel grounds in a high humidity configuration. Capstone’s C600 microturbine is modular and can be easily expanded in the future to accommodate an increased building load. In addition to Capstone’s extensive aftermarket support capabilities, the clean energy production technology was selected for its high reliability and low lifecycle cost.
According to the U.S. Energy Information Administration (EIA), natural gas consumption in Colombia has grown significantly, rising by more than 54 percent over the past decade. Colombia is entirely self-sufficient in its natural gas supply, making energy efficiency and CHP attractive options for commercial and industrial applications.
“There is a great deal of opportunity for Capstone in Latin America, especially in the energy efficiency market,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. “A robust distribution network allows us to better identify the challenges customers are facing and implement an energy solution that is most suitable to their needs,” added Mr. Crouse.
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 8,600 Capstone Microturbine 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, United Kingdom, Mexico City, Shanghai and Singapore.
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This press release contains “forward-looking statements,” as that term is used in the federal securities laws, about growth of key markets, the advantages of our products and the strengthening of our distribution network. 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.
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CONTACT: Capstone Turbine Corporation Investor and investment media inquiries: 818-407-3628 ir@capstoneturbine.com INVESTORS: Dian Griesel Int’l Cheryl Schneider/Tom Caden 212-825-3210