Photo Release -- Capstone Turbine and Electric Ship Facilities Team Up on Hybrid Electric Boat
CHATSWORTH, Calif., May 5, 2010 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean-technology manufacturer of microturbine energy systems, today announced that the world's first boat powered with an ultra low emission Capstone C30 microturbine will launch in the Netherlands in early June.
A photo accompanying this release is available at https://www.globenewswire.com/newsroom/prs/?pkgid=7436
The 75-foot prototype craft is owned by Electric Ship Facilities in the Netherlands, developer of a hybrid-electric propulsion system for ships that can operate on multiple forms of power generation. The ship will showcase the innovative onboard energy system featuring a Capstone C30 diesel fueled microturbine at key maritime and energy related tradeshows throughout Europe and to potential marine customers.
"Microturbines are ideal for power generation in marine applications because of their ultra low emissions and maintenance, small footprint, ease of installation, quiet operation and lack of lubricants and coolant," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing.
For years, cruise ships and other large vessels have used diesel-electric systems because of the systems' ability to efficiently produce propulsion and auxiliary power on long, uninterrupted trips across the ocean. A problem, however, is that emissions increase and efficiency deteriorates when a ship is operating at less than cruise speed.
Current diesel-electric technology is unfeasible for small and mid-sized vessels that start and stop often at various ports, or that work harder when traveling against river currents instead of going downstream. In a battery supported hybrid system, Capstone microturbines efficiently address both emission and efficiency issues that arise in smaller craft not suited for diesel-electric technology.
"Reducing emission pollution from marine vessels is a key issue for the International Maritime Organization, which in 1997 adopted an international convention protocol to reduce air pollution from ships," said Darren Jamison, Capstone's President and Chief Executive Officer. "Capstone microturbines are an excellent solution in marine applications, for the same reasons as our land based products; low emissions, low noise, high efficiency and extended maintenance benefits."
According to Jamison, the addressable market for marine installations of Capstone energy systems is potentially as large as $800 million annually. "The marine industry is looking for cleaner and more reliable solutions," he said. "We made the strategic decision two years ago to develop hybrid product solutions focused on the Marine, Vehicle, UPS and Solar Concentrator markets and Capstone is now starting to see fruits of that labor," 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 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.
The Capstone Turbine Corporation logo is available at https://www.globenewswire.com/newsroom/prs/?pkgid=6212
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about use of our products in marine applications and the addressable market for marine installations of 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.
"Capstone Turbine Corporation" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.
CONTACT: Capstone Turbine Corporation Investor and investment media inquiries: 818-407-3628 email@example.com
Released May 5, 2010