Capstone Turbine Corporation Receives 1.2MW Order From Nigerian Distributor, Makon Power Systems LTD.
CHATSWORTH, Calif., Dec. 27, 2011 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean-technology manufacturer of microturbine energy systems, has received an order for a C1000 and C200 for use at a large Nigerian pharmaceutical company. The order comes on the heels of a meeting with a delegation of the Nigerian government and business leaders led by the United States Ambassador to Nigeria on December 14th to discuss how expanding the number of Capstone microturbines in Nigeria can grow the country's economy.
"The meeting was a big success as indicated by this order," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "The meeting provided a tremendous opportunity for Capstone to support the U.S. government's National Export Initiative and grow our sales throughout Nigeria, especially in the industrial and oil & gas markets."
The pharmaceutical company is World Health organization (WHO) certified and chose Capstone because of our ultra low emission and high reliability. The Capstone microturbines will be used to provide power and thermal energy for the manufacturing process, improving the efficiency of the plant and reducing their carbon footprint.
"This order represents Makon Power Systems' second multiple unit order and first purchase of Capstone's C200 and C1000 products. We expect several additional orders greater than a megawatt for industrial and oil & gas customers in Nigeria in the months to follow," said Ademola Ajakaye, Makon's Chief Operating Officer.
"Capstone distribution partner Makon Power Systems LTD will supervise the installation, provide commissioning and ongoing aftermarket support for the system. Makon has worked very hard to help develop the Nigerian market for Capstone products," stated Darren Jamison, Capstone's President and Chief Executive Officer. "It is great to see this hard work being converted to new business," added Jamison.
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 over 6,000 Capstone MicroTurbine(R) 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, Mexico City, Nottingham, 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 improved efficiency, increased reliability, and increased sales in the Nigerian 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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CONTACT: Capstone Turbine Corporation Investor and investment media inquiries: 818-407-3628 email@example.com
Released December 27, 2011