Capstone Receives 7MW Follow-On Order From Major U.S. Shale Gas Producer
CHATSWORTH, Calif., Oct. 22, 2012 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it received follow-on orders totaling approximately seven megawatts from a major oil and gas customer operating on shale gas.
Capstone continues its remarkable penetration of the North American shale gas market with another approximately seven megawatt order from an existing customer. The latest order is for eight C600, one C800 and 17 C65 units for installation at several remote central gathering sites in the Mid-West. This follow-on order was from the same super-major oil and gas producer that purchased two C600 and ten C65 Power Packages in June 2012. This latest order increases the producer's fleet of Capstone microturbines to 38 systems of various sizes totaling 8.5 megawatts of reliable and low emission power generation.
Capstone distributor Horizon Power Systems secured both the initial order last June and this latest follow-on order for seven megawatts.
"North American shale gas producers are continuing to adopt Capstone microturbines because they want the high reliability and low emission benefits of our products," said Sam Henry, Horizon Power Systems President. "They need the assurance of round-the-clock power at their sites and know that's precisely what Capstone microturbines deliver."
All 38 microturbine packages will provide clean and green prime power to central processing facilities and metering stations. The microturbines, fueled by pipeline quality gas, will produce electricity to provide all power to the onsite equipment, including heaters, pump motors, compressors and distribution panels.
"The oil and gas market continues to be our fastest growing market worldwide," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "From the Eagle Ford and Marcellus shale plays in the United States to the oil fields of Russia and Africa, Capstone microturbines are becoming the go-to power source for producers that want extremely reliable and low emission onsite power 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 over 6,500 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 the environmental advantages and reliability of our products and growth of 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 October 22, 2012