Capstone Continues to Expand CHP Business with 1MW Order for a Connecticut University
18 January 2018 - 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 continues to
expand its combined heat and power (CHP) business with another
project, this time for a C1000 Signature Series one megawatt (MW)
unit to help power a university in Connecticut.
RSP Systems, Capstone’s distributor for Connecticut and New
York, secured the order. The university is still using 50-year-old
inefficient heavy fuel oil-burning boilers to generate steam on
campus, which translates to high-energy costs and emissions.
“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 universities to lower their operational costs while meeting
the world’s most stringent emissions standards,” added Mr.
Jamison.
The natural gas-fueled microturbine will be used to provide
baseload electricity to parts of the campus reducing dependence on
the local utility, while the thermal energy will be used to
generate steam. When deployed in a CHP configuration, total system
efficiency can exceed 80%, lowering operating costs while
significantly decreasing the university’s impact on the
environment.
The natural gas CHP plant is one part of a larger upgrade
project that calls for other energy conservation measures ranging
from lighting upgrades, two rooftop solar arrays, HVAC improvements
and integrated campus-wide digital controls to monitor and
harmonize all of the changes. In total, the entire project will
reduce the total energy consumption at the university by over
24,000 million British thermal units (MBTU) per year, or a
reduction of 16%. Additionally, the university will reduce water
consumption by 7%, and total energy costs will decrease
dramatically.
“Capstone microturbines are the perfect fit and easily integrate
with energy efficiency projects utilizing multiple sources of
power, such as microgrids,” said Jim Crouse, Executive Vice
President of Sales and Marketing at Capstone. “We are thrilled to
see further success in this market segment as more end users
upgrade their older power plants to improve efficiency and reduce
their carbon footprint,” concluded 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 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 UL-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.
Forward-Looking Statements
This press release contains "forward-looking statements," as
that term is used in the federal securities laws, about the
expansion of our CHP business. 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 CorporationInvestor and investment media
inquiries:818-407-3628ir@capstoneturbine.com
Capstone Turbine (NASDAQ:CPST)
Historical Stock Chart
From Apr 2024 to May 2024
Capstone Turbine (NASDAQ:CPST)
Historical Stock Chart
From May 2023 to May 2024