Capstone Secures Additional Orders in Germany as CHP Market Continues to Expand
28 September 2018 - 10:30PM
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:
CPST), the world’s leading clean technology manufacturer of
microturbine energy systems, announced today it secured additional
orders for two C65s and a C200R microturbine. These orders are in
addition to orders received last month for six C65 microturbines
for four different facilities throughout Germany. E-Quad Power
Systems GmbH, Capstone’s distributor in Germany, secured the orders
and all nine microturbines are expected to be commissioned over the
next several months.
The clean and green microturbines will provide on-site combined
heat and power (CHP) that is far more efficient and environmentally
beneficial than utility power. Along with low-emissions, the C65
and C200R feature low noise levels, low maintenance costs, a low
carbon footprint and industry-leading reliability.
Germany gives distributed generators access to the electricity
grid through standardized technology and gives CHP and renewable
generators higher priority when grid operators are deciding which
power plant to run. Germany requires utilities to purchase
CHP-generated electricity at the higher cost of average alternative
generators rather than the actual generation cost.
CHP is an efficient and clean approach to generating electric
power and useful thermal energy from a single fuel source. Instead
of purchasing electricity from the distribution grid and burning
fuel in an on-site boiler to produce thermal energy, an industrial
or commercial facility can use CHP to provide both energy services
in one energy-efficient step.
While CHP has been in use in some form or another for more than
100 years, it remains an underutilized resource today.
Nevertheless, the outlook for the increased use of CHP in Germany
is bright as German policymakers are beginning to recognize the
potential benefits of CHP and the role it could play in providing
clean, reliable, cost-effective energy services to industry and
businesses.
“Capstone is focused on growing our business in Europe as part
of our overall strategy of geographic diversification,” said Darren
Jamison, President and Chief Executive Officer of Capstone.
“The overall German market has been challenging the last couple
of years while the renewable energy and CHP regulations have been
in flux,” said Jim Crouse, Capstone’s Executive Vice President of
Sales and Marketing. “I am very pleased with the recent success of
E-Quad and look forward to the continued expansion of the German
CHP and renewable energy markets,” 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 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.
For more information about the company, please visit
www.capstoneturbine.com. Follow Capstone Turbine on Twitter,
LinkedIn and YouTube.
Forward-Looking StatementsThis 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 “believes,” “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
Integra Investor RelationsShawn M.
Severson415-226-7747cpst@integra-ir.com
Capstone Turbine (NASDAQ:CPST)
Historical Stock Chart
From Jun 2024 to Jul 2024
Capstone Turbine (NASDAQ:CPST)
Historical Stock Chart
From Jul 2023 to Jul 2024