Capstone Turbine Secures Substantial Order for Mexican Pipeline Project
16 December 2014 - 12:30AM
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 six C800 microturbines and sixteen C30 microturbines for
the second phase of the Los Ramones pipeline project in Eastern
Mexico.
Industrias EnergetÃcas, Capstone's distributor in Mexico,
secured the order, which is one of the largest in Capstone's
history.
The pipeline project is a part of the Mexican Energy Reform,
which was established as a way to reduce electricity and gas prices
in the country over a span of two years. The Energy Reform will
also expedite natural gas production, from 5,700 million cubic feet
a day (Mcf/d) in 2013 to 8,000 Mcf/d in 2018 and 10,400 Mcf/d in
2025. The entire project will cost US $2.5 billion and carry
natural gas over a distance of 1,021 kilometers, supplying
one-third of Mexico's natural gas needs at a much lower cost than
that which is currently being shipped in liquefied form from the
Middle East, Africa and South America.
Six C800 high-pressure natural gas microturbines will be
installed at two compression stations of the pipeline project and
sixteen C30 microturbines at metering stations in between. The
microturbine systems will all operate in stand-alone mode, acting
as the primary source of power at each location.
Capstone microturbines are ideal for pipeline applications
because there is no need for lubricants or coolants and they
require minimal maintenance. This ensures around the clock
availability and uptime, ensuring the flow of gas to the market
will not be interrupted. Remote sites like these benefit from
highly reliable and proven technology without the cost of extending
the local power grid. Capstone microturbines are also
extremely efficient and clean, ensuring the pipeline project is
compliant with current and future emissions regulations.
"Natural gas demand in Mexico has increased at a rate of 5.7
percent and 5.9 percent in the Midwestern region, so there was an
immediate need for a natural gas power production system to support
the Los Ramones pipeline project," said Juan Carlos Hernandez,
President of Industrias EnergetÃcas. "Capstone microturbines were
chosen for their low maintenance, reliability, and proven track
record in the oil and gas industry worldwide."
"Capstone microturbines can be used in all facets of the natural
gas market, including exploration, production, compression, and
transmission," said Darren Jamison, President and Chief Executive
Officer at Capstone Turbine. "This order is one of the biggest in
Capstone history and demonstrates the larger project opportunities
that we have been chasing. We are fully committed to provide the
solutions needed to support these larger load regime projects,"
added Jamison.
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 approximately 8,000 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.
The Capstone Turbine Corporation logo is available
at http://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 growth of
the Mexican market and opportunities for larger projects using our
products. 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
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