Capstone Receives Groundbreaking C600 Order for New OATI Data Center in Minnesota
CHATSWORTH, Calif., June 1, 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 600-kilowatt microturbine system to be installed in the OATI data center and office facility currently under construction in Bloomington, Minnesota.
Vergent Power Solutions, Inc. (www.vergentpower.com), the Capstone distributor for the Upper Midwest, New England and Eastern Canada, received the order from Computer Avenue, LLC ("Computer Ave"). Computer Ave is engaged by Open Access Technology International ("OATI") to develop the OATI South Campus as an office and mission critical data center. The building is also being developed as a microgrid site. OATI is a leading software solution provider to the energy industry with over 1,600 customers, comprising 98 percent of North American energy industry firms, utilizing its Software-as-a-Service (SaaS) platform. (www.oati.com).
The C600 package will provide the new OATI South Campus facility with electricity, hot water and chilled water 24/7/365. Because of the critical nature of the complex, the microturbine will be configured to provide power in stand-alone mode in the event of a grid failure. The C600 will operate in parallel with wind, solar, and energy storage systems at the facility, along with the utility grid network. The C600 is planned to be upgraded to a C1000 in the future as the needs of the OATI South Campus grow.
"This is a groundbreaking project because for many years the prevailing theory was that the Midwest was not a hospitable market for cogeneration and trigeneration projects due to poor project economics and the conservative nature of the market here," said Justin Rathke, President of Vergent Power. "Lower natural gas prices coupled with rising electric rates have created an opening for best-in-class CHP systems, and the additional benefits of the Capstone solution are a great fit for an innovative and visionary company like OATI."
"Capstone is pleased to receive another order from Vergent Power Solutions," said Jim Crouse, Executive Vice President of Sales and Marketing of Capstone Turbine. "This project will serve as a showcase to other major companies in the region and to the critical power market worldwide," added Crouse.
"Microgrids, along with other forms of localized distributed generation, are set to transform the North American power grid," said David Heim, Chief Strategy Officer of OATI. "The OATI South Campus, with the Capstone microturbine and other generation and energy storage technologies, will play an important role in proving how microgrids can bring significant benefit for building owners as well as the greater grid as a whole. OATI is glad to have the Capstone microturbine as one of the foundational energy production building blocks of the OATI South Campus," added Heim.
"This is a landmark energy project for the state of Minnesota. The fact that OATI's client base is comprised of a who's who list of energy industry firms is an unparalleled opportunity to demonstrate the benefits of microturbine technology to a broad and influential audience," said Rathke.
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 8,500 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.
The Capstone Turbine Corporation logo is available at https://www.globenewswire.com/newsroom/prs/?pkgid=6212
OATI provides innovative software solutions that simplify, streamline, and empower the operational tasks required in today's energy commerce and Smart Grid. With more than 1,600 customers in North America, OATI successfully deploys large, complicated, and diverse mission-critical applications committed to industry standards and stringent NERC CIP guidelines. OATI (www.oati.com) is a leading provider of Smart Grid, Energy Trading and Risk Management, Transmission Scheduling, Congestion Management, and Market Management products and services. OATI is headquartered in Minneapolis, Minnesota, with an office in Redwood City, California. For more information, please contact email@example.com.
The OATI logo is available at https://www.globenewswire.com/newsroom/prs/?pkgid=33365
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of our products and the use of our products in the critical power market and in microgrid configurations. 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" and "Capstone MicroTurbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
Capstone Turbine Corporation Investor and investment media inquiries: 818-407-3628 Open Access Technology International Inquiries: 763-201-2000
Released June 1, 2015