Capstone Turbine Corporation Sells C600 for Use in Marcellus Shale Play
CHATSWORTH, Calif., July 1, 2010 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com ) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, sold the low-emission C600 microturbine to one of the largest natural gas producers in the United States.
The company is producing natural gas from six key reserves -- or plays -- across the United States. It will use electricity produced by the C600 to power a compression station associated with the Marcellus Shale play, labeled a "super giant" oil field that spans northern West Virginia, Pennsylvania and southern New York.
"Air permitting has become a major concern for developers and producers," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "Capstone's clean-and-green, low-emission microturbines can play a key role in ensuring continued development of these rich shale plays. Because microturbine emissions are considerably lower than internal combustion engines, it is easier for developers to meet increasingly stringent requirements."
The U.S. Environmental Protection Agency's (EPA) Clean Air Act has strict requirements for emissions levels at natural gas sites. The EPA reviews stationary equipment at wellheads and compression stations along pipelines to ensure emissions meet federal requirements.
The Capstone C600, which produces 600 kilowatts of electricity, utilizes Capstone's patented air bearing technology, which helps to provide lower operational cost and additional reliability.
"The six large shale plays have just begun to be tapped and could revolutionize the U.S. market for natural gas," said Darren Jamison, Capstone President and CEO. "These six very large shale formations could pave the way for a new century of natural gas abundance and stable natural gas prices. We view this as a large potential market for our products."
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 5,000 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 lower operational cost, additional reliability, compliance with certain air quality regulations and increased demand for our products. 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 July 1, 2010