Capstone Turbine Secures Second Major Order in December as the Market in Mexico Heats Up -- Latest Order is Fourteen C1000s for Multiple Industrial CHP Projects
CHATSWORTH, Calif., Jan. 6, 2015 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it received another significant order from Mexico for fourteen C1000 microturbines for multiple CHP projects in Mexico.
"This substantial order was received just weeks after we received the order for six C800 microturbines and sixteen C30 microturbines for the second phase of the Los Ramones pipeline project in Mexico," said Darren Jamison, President and Chief Executive Officer at Capstone Turbine. "These two orders combined total approximately $17 million and should make Mexico a top 5 market for calendar year 2015," added Jamison.
DTC Ecoenergia, Capstone's Mexican distributor, secured the latest order. Two of the C1000 microturbines shipped in late December, and the balance of the order will serve multiple projects expected to be commissioned over the balance of 2015.
According to Cogeneration and On-Site Power Production magazine, the Mexican Congress passed energy reform legislation in 2008 as part of a national commitment to reduce greenhouse gas emissions by 50% from their 2002 levels by 2050. The government is promoting CHP, or cogeneration, as an energy efficient option to help meet national energy goals and estimates the country's potential CHP capacity could top 15.5GW by 2020.
The Mexican manufacturing industry, like that in the United States, is benefiting from cheap natural gas which allows facilities to generate their own heat and power very efficiently and economically.
Capstone microturbines are the ideal fit for cogeneration projects given their compact footprint, clean emissions, and quiet operation. Additionally, Capstone microturbines utilize a patented air bearing and do not require coolants or lubricants. This allows for longer run time between maintenance intervals and ensures operational costs remain low.
Deploying the microturbines in a cogeneration application where the exhaust heat is utilized can raise the overall site efficiency to over 80%. In a trigeneration application, where cold water is also produced, efficiency levels can reach as high as 90%.
"Having leveraged our demonstrated success with cogeneration projects in Europe and the U.S., we are excited to see further growth and penetration in the expanding Mexican market," said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. "Utilizing reliable and efficient microturbines as an alternative to the expensive and unpredictable local utility provides businesses significant savings and a positive impact on their bottom line," added 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 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.
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This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of our CHP applications and growth of the Mexican market. 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 email@example.com
Released January 6, 2015