Capstone Receives 3 Megawatt Order From Newly Appointed Hawaiian Distributor
CHATSWORTH, Calif., April 2, 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 three C1000 microturbines to upgrade luxury resorts on the island of Maui, Hawaii.
Critchfield Pacific Inc., Capstone's new Hawaiian distributor, secured the order, which is expected to be commissioned in February 2016.
The propane-fueled C1000 microturbines will be installed at three different locations on Maui. Two C1000s will replace the existing diesel-engine generator combined cooling, heat and power (CCHP) systems at two existing sites, and both C1000s will operate in CCHP applications. A third C1000 will be installed at a new site and operate in a combined heat and power (CHP) application.
The high cost of electricity makes Maui an ideal spot for cogeneration and trigeneration. The clean waste heat from the exhaust of each microturbine will be captured by heat recovery modules to heat domestic water, swimming pools and spas. In addition, absorption chillers will be used in the CCHP systems to provide air conditioning. Once commissioned, the microturbines will reduce the operating costs of each resort by lowering their overall energy usage and reducing their demand during peak hours.
Capstone microturbines were the clear choice in terms of cost and reliability. However, due to their remote locations, the resort destinations needed a power generation solution that requires less maintenance and produces fewer emissions than other proposed solutions. The microturbines will provide the customer a higher level of energy independence while also helping to protect the region's environment.
"With the highest cost for electricity in any state, and the smallest electrical grid, Hawaii is prime for distributed power and cogeneration; we've just needed a robust and low maintenance solution," said Jim Grimm, Vice President of Engineering at Critchfield Pacific Inc. "We believe the Capstone microturbines provide that solution. Now that the C1000 installed almost a year ago has a positive operational track record on Kauai, we believe the follow-on adoption of Capstone microturbines will grow in the hospitality sector, and so will the number of installations in Hawaii," added Grimm.
"With more than 1,100 properties with this one resort operator alone we see significant growth opportunities in this sector worldwide," said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. "In addition to saving our customers in energy expenses, our mission is to provide products that have little to no environmental impact, especially in places like the Hawaiian Islands," added Crouse.
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 hospitality sector and increased sales in Hawaii. 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.
CONTACT: Capstone Turbine Corporation Investor and investment media inquiries: 818-407-3628 email@example.com
Released April 2, 2015