Capstone Receives Follow-on Orders for Fifty C65s From Horizon Power Systems for Multiple U.S. Oil and Gas Customers
CHATSWORTH, Calif., March 12, 2014 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today it received orders for fifty Capstone C65 microturbines for oil and gas production in the United States.
Horizon Power Systems, Capstone's exclusive oil and gas distributor for the Eagle Ford, Permian, San Juan and Wattenberg Shale plays, secured the orders to support the growing power needs of its existing customers. The orders will bring the total fleet to more than 550 microturbines in operation in Horizon's area of responsibility and will serve various stages of oil and gas production including powering central processing stations, well-head operation, and flare reduction.
"North American shale gas producers continue to adopt Capstone microturbines because they want the high reliability and low emission benefits of our products," said Sam Henry, President of Horizon Power Systems. "Additionally, customers are committed to conducting business safely, in a socially and environmentally responsible manner, which is precisely what Capstone microturbines deliver."
Capstone continues its rapid penetration of the North American shale gas market with these follow on orders. These orders help demonstrate that Capstone's low emission, durable, and highly efficient microturbines are the preferred choice for around-the-clock production and optimized well site performance. Capstone's low maintenance ensures a higher availability than its competitors and also reduces operational costs.
"The oil and gas market continues to show steady growth worldwide," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "Capstone microturbines have become the go to power source for producers that want extremely reliable, easy to deploy and low emission onsite power solutions. The repeat order indicates our customers' satisfaction with our clean and green solutions."
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 7,000 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 the environmental advantages and reliability of our products and the use of our products in the oil and gas market. 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 March 12, 2014