Capstone Secures 1 MW CHP Order for a Large Chemical Manufacturer in The Mid-Atlantic United States
VAN NUYS, Calif., May 17, 2018 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today an order for a C1000 Signature Series microturbine to provide combined heat and power (CHP) to a chemical manufacturer located in the Mid-Atlantic United States. E-Finity Distributed Generation, Capstone’s distributor for the Mid-Atlantic and Southeast regions, secured the order.
When the chemical manufacturer needed to expand and improve their operational efficiency, they turned to Capstone microturbine technology for the solution. The C1000S microturbine will operate 24/7, reducing peak energy demand at the facility, significantly reducing their energy costs.
“The expansion of our CHP business is the direct result of our efforts to diversify our customer base, while increasing our revenue from the energy efficiency space by leveraging our new Signature Series product,” said Darren Jamison, President and Chief Executive Officer of Capstone. “Microturbines are well suited for CHP and CCHP applications because they benefit round-the-clock operations like chemical plants to lower their operational costs while meeting the world’s most stringent emissions standards,” added Mr. Jamison.
Additionally, the thermal energy from the exhaust of the microturbine will be captured and used in combination with a boiler to provide steam at 125 psig to the chemical manufacturing process, increasing the utilization of the microturbine to over 80%. This makes microturbine CHP solutions especially attractive to chemical plants and other industrial facilities that can use the heat to reduce their manufacturing costs as well as their energy bill.
“The turbine was selected for this large chemical plant expansion in part because of the oxygen-rich exhaust that is excellent for post-combustion firing. The duct burner will heat the turbine exhaust temperature up to 1,600 degrees Fahrenheit, and the superheated exhaust will produce steam up to 17,000 pounds per hour,” said Jim Bondi, Executive Vice President of E-Finity. “The project was the recipient of the Alternative Clean Energy Grant through the Commonwealth of Pennsylvania Finance Authority. Once commissioned, the CHP system will be creating steam using a highly efficient duct burner and boiler combination,” added Mr. Bondi.
According to the Department of Energy, the chemical industry is the largest adopter of CHP solutions in commercial applications today with over 25 gigawatts (GWs) currently installed in the United States alone.
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 over 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 DQS-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. 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
Integra Investor Relations Shawn M. Severson 415-226-7747 cpst@integra-ir.com
Source: GlobeNewswire
(May 17, 2018 - 8:30 AM EDT)
