Capstone Secures Order for Fifty C65s From Optimal Group in Australia
CHATSWORTH, Calif., Aug. 28, 2014 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today an order by Optimal Group for fifty Capstone C65s to be deployed in Australia.
Optimal Group, Capstone's Australian distributor, placed the order for fifty C65 microturbines with integrated heat exchangers for the launch of an Optimal rental fleet.
Optimal Group, a leading provider of cogeneration and trigeneration energy solutions in Australia, required a flexible solution for customers looking to utilize the benefits of microturbine technology while minimizing capital costs.
That solution comes in the form of tailored short or long-term rental packages that include a Capstone Factory Protection Plan, providing customers with fixed cost comprehensive maintenance for up to nine years. Optimal can also assist customers in acquiring up to three-year gas supply contracts, fixing their energy costs and securing their energy future while delivering carbon emission reductions in excess of 30%. With some customers only requiring equipment for a fixed short-term project life, Optimal's rental solution is a perfect fit, delivering the performance needed without incurring up from capital costs.
Capstone microturbines can be installed in a broad range of applications. Unlike traditional reciprocating engines, Capstone microturbines are quieter, cleaner, lighter, and have considerably lower long-term maintenance costs. Based on a patented air bearing technology, Capstone microturbines do not require coolants or lubricants and have the ability to run continuously 24 hours a day, 7 days a week. They can either supplement the local utility in a peak shaving application or replace grid power entirely. The Capstone C65 ICHP model also includes an integrated heat exchanger which easily captures the microturbine exhaust to help provide hot air/hot water in a cogeneration application or cold air/cold water in a trigeneration application. When deployed in these applications, the overall efficiency of the microturbines can be in excess of 80%.
"These fifty turbines will form the foundation of our new rental fleet for the fast growing Australian CHP market," said Mr. Craig Dugan, CEO of Optimal Group Australia. "With power prices continuing to rise, our rental option provides customers immediate relief to spiraling energy costs without having to use their hard earned capital."
"Concern over rising electricity prices and grid reliability should drive growth for our CHP business globally," stated Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. "An increasing number of businesses are seeking ways to lower their energy costs while increasing their energy reliability."
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 advantages of our CHP applications. 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 August 28, 2014