Capstone C1000 Sales Exceed Management's Expectation
Capstone Turbine Corporation (www.microturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, today announced that it received additional orders for 10 megawatts of C1000 systems. This brings the total of C1000 family orders to date to 26 units or 24.6 megawatts.
Like the C200 pre-orders, the C1000 sales have been very strong and exceed management's expectations. These orders further demonstrate that the market continues to look for ultra-clean and highly reliable power generation solutions in the multiple megawatt space.
"We are extremely pleased with the early market adoption of both the C200 and C1000 products. We continue to focus attention on reaching our internal cost and margin targets," stated Darren Jamison, Capstone Turbine Corporation's President and Chief Executive Officer. "In addition, we are working to improve our inventory turns to lower our working capital requirements as we ramp up the business," Jamison added.
Every installed C1000 Capstone MicroTurbine solution is equivalent to removing up to 700 average U.S. passenger vehicles from the road, based on EPA emissions and efficiency data for the average US power plant and average passenger vehicle, or the equivalent of planting 730 acres of pine and fir forest, based on CO2 reduction.
Capstone Turbine Corporation expects to deliver its first commercial C1000 Series product in January 2009.
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 and ISO 14001:2004 certified company; Capstone Turbine is headquartered in the Los Angeles area with sales and/or service centers in New Jersey, New York, Mexico City, Milan, Nottingham, 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 additional sales opportunities and the advantages of our C1000 product, internal cost and margin targets, improved inventory turns and delivery expectations for the C1000 product. 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 October 2, 2008