Capstone Secures 4MW Order for Major Australian Manufacturer
CHATSWORTH, Calif., Sept. 9, 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 four C1000 microturbines for a major Australian manufacturer. Optimal Group, Capstone's Australian distributor, secured the order for the 4MW facility, which is scheduled to be commissioned in early 2016.
The four natural-gas-fueled 1MW microturbines will be installed in dual mode, which will allow the customer to operate independently of the grid or with the grid in a load sharing capacity. The microturbines will provide lower emission power and increased reliability to their manufacturing process. Capstone microturbines were chosen for their redundancy and suitability for further expansion. Other technologies cannot compete with Capstone's speed of delivery and time to commissioning.
"Australia stands at the edge of a boom in manufacturing as major trading partners like China look to Australia for premium products," said Craig Dugan, Chief Executive Officer at Optimal Group. "This fuels a lot of interest in the type of clean and reliable distributed power generation only Capstone can provide," added Dugan.
Australia's free trade agreement with China is expected to be in place by the end of the year, and the deal will make Australian products much more affordable there.
"Australia will grow significantly this year and help offset the slowdown in business we've received in Russia," said Darren Jamison, President and Chief Executive Officer at Capstone Turbine. "Capstone has already matched the number of MW sold to Australia from last fiscal year, and we are excited to see our Australian distributor's continued success within their market," 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 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.
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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 Australian 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.
"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 INVESTORS: Dian Griesel Int'l Cheryl Schneider/Tom Caden 212-825-3210
Released September 9, 2015