Capstone Chosen for Energy Project to Upgrade Top Pork Producer in Lithuania
CHATSWORTH, Calif., April 30, 2015 (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 an order for a C800 microturbine to upgrade a leading pork producer in Lithuania.
Sarlin Oy Ab, Capstone's distributor for Finland, Latvia, Estonia and Lithuania, secured the order, which is expected to be commissioned in October 2015.
Fueled by biogas produced on site, the C800 microturbine will be installed in a combined heat and power (CHP) application along with an anaerobic digester, fuel compressor and heat exchanger. With energy efficiency levels approaching 80 percent, the innovative "green waste" energy system will convert organic solid waste into clean, renewable energy for the meat production facility. In addition, the exhaust from the microturbine will be captured to provide thermal heat at the highest efficiency possible.
Capstone microturbines were chosen for their ease of operation, low maintenance, low emissions, reliability and modular design. The cogeneration system will require minimal maintenance by the end user and without the need for any oil, lubricants or coolants.
According to a 2011 report by the U.S. Department of Agriculture Foreign Agricultural Service, Lithuania is actively developing renewable energy sources (RES) from biomass and other sources to gain energy independence. The amount of energy generated from biofuels in Lithuania is the second highest in the EU per capita, and it is estimated that by 2020 the country will lead the EU in the quantity of biomass available for biofuel production.
"As Capstone further penetrates the global renewable energy market, we continue to deliver reliable smart power generation solutions and leverage leading-edge green waste conversion technologies," said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. "Food production facilities like these benefit from renewable energy production by meeting their zero-waste initiatives and achieving a boost in net efficiency," added Crouse.
"I'm excited to see some of our distribution partners like Sarlin Oy have success in new geographies like Lithuania as global diversification is key to Capstone's near-term and long-term revenue growth," said Darren Jamison, President and Chief Executive Officer at Capstone Turbine. "Today Capstone has 84 distribution partners worldwide with approximately 740 employees in 152 locations dedicated to the innovative Capstone products," 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 approximately 8,000 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 growth of the renewable energy market and success in new geographies. 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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CONTACT: Capstone Turbine Corporation Investor and investment media inquiries: 818-407-3628 email@example.com
Released April 30, 2015