Capstone Secures First Microturbine Order for Industrial Application in Peru
CHATSWORTH, Calif., Dec. 3, 2015 (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 C200 microturbine to provide combined heat and power (CHP) for an industrial application in Peru. ISI Mustang, Capstone's distributor in Peru, secured the order, which is expected to be commissioned in early 2016.
"Capstone is focused on growing our business in South America as part of our overall strategy of geographical diversification," said Darren Jamison, President and Chief Executive Officer at Capstone Turbine Corporation. "Peru, Columbia, Brazil, Chile and Ecuador are key markets for our continued growth in the region and will provide further diversification of growing our CHP business," continued Mr. Jamison.
The C200 microturbine will be installed in a grid connect configuration to provide electricity and heating to the customer's facility. The natural gas-fueled microturbine will be deployed in a CHP application and allow the customer to utilize the thermal energy from the exhaust for local processing and production purposes. Capstone microturbines were selected for their low emissions profile and their ability to significantly reduce the customer's operational costs.
According to a recent study by the World Alliance for Decentralized Energy (WADE), the national potential for cogeneration in Peru is 547 megawatts, or a business potential of about US $973 million. With the growing demand for cogeneration solutions in Peru, Capstone has the opportunity to capitalize on both commercial and industrial projects in the region.
"This industrial project, a market first for the country of Peru, showcases the progress we are making with geographical and market diversification," said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. "By working more closely with our distributors, we see significantly more interest in commercial and industrial CHP," continued 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.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about geographical and market diversification. 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:
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Cheryl Schneider/Tom Caden
(December 3, 2015 - 8:30 AM EST)
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