Capstone Secures Repeat Order from Global Hotel Chain to Improve Operational Savings and Lower Overhead in New York Hotel
15 April 2019 - 10:30PM
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:
CPST), the world’s leading clean technology manufacturer of
microturbine energy systems, announced today that it has secured an
order from a global hotel chain for four C65 combined heat and
power (CHP) microturbines that will be installed in one of its new
properties in New York City. Capstone’s distributor for New York
and Connecticut, RSP Systems, secured the follow up order with
commissioning set for 2020 when the hotel is expected to open.
Looking to lower overhead and improve grid reliability, the CHP
cogeneration system will be installed to reduce energy costs by
producing up to 260kW of electricity. Moreover, thermal heat from
the exhaust will be utilized for domestic hot water (DHW) and space
heating for the nearly 350-room property. The four natural
gas-fueled C65 units will operate in a 24/7 grid connected mode
that will allow the property to reduce their carbon footprint and
offset high utility costs.
“Depending on the microturbine configuration warranted by the
customer, hotel properties can expect a significant drop in their
overall energy cost, by as much as 50%, when adding hot water and
space heating to the equation,” said Darren Jamison, Capstone’s
President and Chief Executive Officer. “The best part being, our
systems will not only ensure that the hotel lights stay on during a
blackout, they will also help reduce the hotel’s carbon footprint,”
added Mr. Jamison.
“This system will meet nearly 40-50% of the hotel’s power needs
and nearly 30% of the domestic hot water and heating needs during
summer and winter months,” said Bruce Beckwith, RSP Systems’
Executive Vice President.
According to Energy Star, a government-backed program helping
businesses and individuals protect the environment through superior
energy efficiency, hotels spend an average of $2,196 per available
room each year on energy which accounts for about 6% of all
operating cost. With guest satisfaction being a top priority for
hotels, operators are continuously seeking for ways to reduce the
cost but not at the expense of guest comfort.
Unlike the residential market, urban hotel properties may be
unable to count on solar panels for energy savings due to the
limitations on the roof area needed. Capstone’s product line ranges
from a C30 unit that produces 30kW to a C1000S that produces one
megawatt. All units can be interconnected in a series to produce
ten plus megawatts, thus meeting the power requirement of not only
a hotel, but also commercial buildings, hospitals or industrial
plants.
“Energy cost is a major expense for hotel owners and operators,”
said Jim Crouse, Capstone’s Executive Vice President of Sales and
Marketing. “As rates increase, the payback period on our CHP
systems can be very compelling. It is not uncommon to see payback
periods as short as three years,” added Mr. Crouse.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:
CPST) is the world’s leading producer of highly efficient,
low-emission, resilient microturbine energy systems. Capstone
microturbines serve multiple vertical markets worldwide, including
natural resources, energy efficiency, renewable energy, critical
power supply, transportation and microgrids. Capstone offers a
comprehensive product lineup, providing scalable systems focusing
on 30 kWs to 10 MWs that operate on a variety of gaseous or liquid
fuels and are the ideal solution for today's distributed power
generation needs. To date, Capstone has shipped over 9,000 of these
systems into 73 countries logging millions of operating hours.
Capstone is committed to improving the efficiency of energy
needs around the world, while simultaneously reducing global
emissions of pollutants and greenhouse gases. Capstone’s systems
help end users improve their impact on the environment, while still
meeting power and reliability needs. During fiscal year 2019,
Capstone saved end-use customers an estimated $194 million in
annual energy costs and 314,000 tons of carbon.
Not only does Capstone enable customers to reduce CO2 and
emissions, Capstone applies the same principals to its own
environmental footprint and focuses internally on its environmental
risks, energy consumption, waste disposal and carbon footprint.
Capstone also strives to foster a corporate culture emphasizing its
relationship with employees, customers and suppliers in order to
ensure that Capstone’s corporate values are aligned with those of
its employees, customers and suppliers.
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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