Capstone Microturbine Fleet Surpasses Major Milestone of 125 Million Operating Hours
01 November 2018 - 11:30PM
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:
CPST), the world’s leading clean technology manufacturer of
microturbine energy systems announced today that it has surpassed
125 million operating hours through its installed worldwide fleet.
The milestone was recently verified by totaling the reported
operation hours from all field service records kept by Capstone’s
customer service department. These maintenance records are
submitted by Capstone’s global network of Distributors and
Authorized Service Providers. Each Capstone microturbine system has
integrated smart software and electronics that maintain a log of
runtime hours and operational performance data.
“We have achieved another significant milestone for Capstone and
its innovative clean and green microturbine technology,” stated
Darren Jamison, Capstone’s President and Chief Executive Officer.
“It wasn’t that long ago that we were excited about 15 million
operating hours. Not only is 125 million operating hours an
impressive number that speaks to our reliability and increased
adoption, but it also reflects the positive impact that we are
having on the environment,” added Mr. Jamison.
Capstone end-user customers saved an estimated 314,000 tons of
carbon last fiscal year. The carbon savings are comparable to the
annual equivalent carbon reduction from approximately 369,800 acres
of forest or removing over 67,000 passenger vehicles from the road
for a year.
Capstone’s solutions are scalable from 30 kilowatts (kWs) to 10
megawatts (MWs), and to date the company has shipped over 9,000
systems worldwide. The full product line of microturbine power
generation systems have been deployed in over 70 countries, serving
multiple verticals with industry-leading reliability and efficiency
while meeting the extreme demands of oil and gas production and
providing critical power and energy efficiency for retailers,
hotels, hospitals, and industrial customers.
“As the Capstone worldwide fleet continues to mature we expect
it will drive our future aftermarket service business from a spare
parts revenue perspective, while we focus on increasing our
remanufacturing capabilities and improving our margins on our
long-term Factory Protection Plan service contracts,” said Jeff
Foster, Senior Vice President of Customer Service and Quality for
Capstone.
“Increasingly we are starting to see more and more customers
select our products due to our proven and reliable track record,”
said Jim Crouse, Executive Vice President of Sales and Marketing.
“Customers today have a number of options to reduce their costs of
electricity, but not many of those options have the same level of
reliability as a Capstone microturbine, nor have they spent nearly
30 years innovating and improving their solutions like Capstone,”
concluded Mr. Crouse.
Capstone’s preliminary second quarter results indicate the
company is gaining momentum year-over-year with second quarter
product revenue increasing approximately 22%, which is the highest
product revenue in five quarters. Total revenue for the quarter
increased approximately 12% year-over-year.
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 Statements
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,”
“believes,” “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 |
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