Capstone Receives Another Substantial Order in the Oil & Gas Market
Capstone Turbine Corporation (www.microturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, today announced that it has received an order for approximately $1.9 million from a multinational oil and gas company. The order is for Capstone's C65 Class I Div 2 Microturbine systems for use in resource recovery applications on unmanned oil platforms.
"This order builds further momentum for us in the oil and gas market. The order is from a fully-integrated oil and gas corporation whose business encompasses the full spectrum of oil and gas operations in the areas of upstream oil and gas exploration and production to downstream oil refining, gas processing and liquefaction, gas transmission pipeline network operations, and petrochemical manufacturing and marketing, among others," said Jim Crouse, Capstone's Executive Vice President, Sales and Marketing.
"We are very pleased to receive this considerable order as it demonstrates the traction we are gaining in the oil and gas market," said Darren Jamison, President and CEO of Capstone Turbine Corporation. "The oil and gas market is a major focus for Capstone as it leverages our value proposition of high reliability, long maintenance intervals and low total cost of ownership," added Jamison.
Capstone offers an integrated microturbine package to meet the special requirements of offshore applications. This includes corrosion protection with a 316 stainless steel enclosure, optional Class I Division 2/NFPA 496 certification for use in hazardous areas, and UL listing. The Capstone offshore package includes an energy storage system to start the microturbine and provide momentary power during abrupt load changes. The result is highly regulated voltage and frequency regardless of load changes. These compact, self-sufficient systems are perfect for unmanned platforms and have onshore dispatch, monitoring and diagnostics capability.
About Capstone Turbine
Capstone Turbine Corporation (www.microturbine.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 4,000 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 9001:2000 certified company; Capstone Turbine is headquartered in the Los Angeles area with sales and/or service centers in New York, Mexico City, Milan, Bath, Shanghai and Tokyo.
"Capstone Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about new sales opportunities for Capstone, in particular, in the oil and gas sector. 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.
Source: Capstone Turbine Corporation
Released February 20, 2008