Capstone Turbine Secures Follow-On Order for Additional Sections of the Los Ramones Pipeline Project in Mexico
CHATSWORTH, Calif., Feb. 10, 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 a follow-on order for five C800 microturbines for another phase of the Los Ramones pipeline project in Northeastern Mexico.
In addition to this order, Industrias Energetícas, Capstone's distributor in Mexico, secured the initial order for the pipeline project in December 2014, which consisted of six C800 microturbines and sixteen C30 microturbines.
Considered to be the backbone of Mexico's natural gas system, the Los Ramones pipeline project is part of the Mexican Energy Reform, designed to improve the gas supply in the central part of the country. The first phase of the pipeline will be approximately 114 km in length and provide a capacity of 2,100 MMcfd, and the second phase will be approximately 740 km in length with a capacity of 1,430 MMcfd.
Five C800 high-pressure natural gas microturbines will supply power to two compression stations. The microturbines will act as the primary energy source for these remote sites and require minimal maintenance. This ensures a steady and reliable flow of power to the stations while keeping emissions low. Capstone microturbines align perfectly with the needs of oil and gas producers and can be used in all phases of production including upstream, midstream, and downstream operations in both onshore and offshore applications.
"With a free-market energy policy in place, natural gas development in Mexico is poised for substantial growth," said Juan Carlos Hernandez, President of Industrias Energetícas. "Capstone microturbines were the clear choice for providing power to this multi-billion dollar project where reliability is critical," added Hernandez.
"The follow-on order helps to further solidify Capstone microturbines as a preferred solution for oil and gas producers," said Darren Jamison, President and Chief Executive Officer of Capstone Turbine. "As I outlined in our February 5, 2015 earnings call, Mexico is becoming a significant market for Capstone products as a result of the Mexican Energy Reform. I also outlined on the call how I believed that Capstone's previous awards positioned us well for the future phases of the project," 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 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 growth of the oil and gas market in Mexico. 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 February 10, 2015