Capstone Turbine Receives Follow-On Order for Fifteen C65s from Horizon Power Systems for U.S. Shale Oil and Gas Customers
CHATSWORTH, Calif., Jan. 29, 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 fifteen C65 microturbines for shale oil and gas customers in the United States.
Horizon Power Systems, Capstone's exclusive oil and gas distributor for the Eagle Ford, Permian, Barnett, Mancos, San Juan, and Wattenberg Shale plays, secured the order to support the continued success in the U.S. shale oil and gas market, despite the recent oil price decline. The order will serve various facets of the shale oil and gas production process including the powering of central processing stations, metering stations, well-head operation, and flare reduction.
According to the U.S. Energy Information Administration's (EIA) 2014 Annual Energy Outlook, a significant growth in demand for liquefied natural gas has led to the prediction that the U.S. will become a net exporter of natural gas in just a few years. The growth in demand for natural gas enables oil and gas producers to invest in more efficient and environmentally-friendly power generation solutions, strengthening the market from within.
With oil, gas, and other natural resources serving as Capstone's largest market segment, shale plays have become a major focus going into 2015. By providing top shale oil and gas operations with ultra-low emission, low maintenance, and reliable microturbines, they are able to operate more efficiently and for longer periods of time than typical reciprocating engine generators. This helps to solidify Capstone's position as the preferred option for new and repeat oil and gas customers.
Capstone microturbines can be used in all phases of oil and gas production including upstream, midstream, and downstream operations in both onshore and offshore applications. Since many of these operations are situated in remote locations, Capstone microturbines align perfectly with the needs of oil and gas businesses to ensure they are successful in bringing natural gas to market.
"Stability and reliability are key selling factors as we continue to penetrate the U.S. oil and gas shale markets, and we hope to continue to grow our business by expanding our Capstone market share even in a tight natural resource market," said Sam Henry, President of Horizon Power Systems. "Capstone microturbines continue to become a preferred power generation option for oil and gas producers that want a stable and reliable solution to optimize their on-site performance and reduce operational costs," added Henry.
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 products and the growth of the oil and gas 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 29, 2015