Capstone Turbine Secures Order to Upgrade Building in Sydney Central Business District
CHATSWORTH, Calif., Jan. 13, 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 recently received an order for a C600 microturbine and a C800 microturbine to upgrade a major building in the Sydney Central Business District (CBD).
Optimal Group, Capstone's Australian distributor, secured the order, which is scheduled to be installed in June 2015 and is the first of many similar systems Optimal plans to install in the Sydney CBD.
According to the U.S. Energy Information Administration (EIA), Australian natural gas production has increased sharply over the past decade as a result of new projects. This combined cooling, heating and power (CCHP) project will provide base load electricity, hot water recovery and cooling to the Sydney CBD building on-site via natural gas fired microturbines. Deployment in a trigeneration application will ensure the building is upgraded to maximize the efficiency of the power generated, while also reducing the payback period.
Capstone's unique microturbine power generation system was chosen for its low emission capabilities. Unlike many reciprocating engine generators, Capstone microturbines are compliant with current and future emissions regulations as well as green building best practices, without requiring any exhaust after treatment. The environment-friendly system was designed for continuous operation, providing constant base load power with energy efficiency levels of approximately 80 percent. There are often size restrictions for power generation systems in multi-level buildings, but Capstone's compact microturbines make for a perfect fit -- even with limited space to work with.
"A growing regional demand for natural gas and further investment in the country's reserves have led Australia to produce enough gas to cover its consumption and make it a leading gas exporter," said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. "With power costs continuing to rise, we are pleased to see an increasing number of Australian businesses taking advantage of Capstone microturbines to reduce their cost of power and emission profile via cogeneration and trigeneration," 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 Australian 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.
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Released January 13, 2015