Capstone Receives Additional C1000 Orders for Oil & Gas in U.S. and Russian Markets
CHATSWORTH, Calif., April 4, 2011 (GLOBE NEWSWIRE) -- Less than three months after announcing two orders totaling nine megawatts for a large U.S. independent oil and gas company, Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, received another follow-on order for six C1000 Power Packages to be delivered to the U.S. market later this year. Capstone distributor Pumps & Service, which secured the previous order for nine megawatts for projects operating in the Eagle Ford Shale play in South Texas, had indicated they expected more orders in 2011. Today's announcement is the sixth major order Pumps & Service has placed with Capstone in recent months for units sold to large independent oil and gas companies operating primarily in the shale plays.
In addition, the Company received orders for eleven C1000s from its largest international distributor, BPC in Russia. The majority of the C1000s ordered from BPC will be deployed in the Russian oil and gas markets. The Company has seen a significant increase in order activity from BPC for several ongoing oil and gas projects.
"Oil and gas producers are beginning to appreciate the high reliability and low maintenance costs of the Capstone microturbine and the important role Capstone products can play in solving customers' energy requirements," said Sam Henry, Pumps & Service President.
"Market adoption of the C1000 product appears to be accelerating in both the U.S. and Russian oil and gas markets," said Darren Jamison, Capstone's President and Chief Executive Officer. "Both our key U.S. and Russian oil and gas distributors are doing a tremendous job in the sales, application, marketing and service of the Capstone C1000 Series product," 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 5,000 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.
The Capstone Turbine Corporation logo is available at https://www.globenewswire.com/newsroom/prs/?pkgid=6212
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about high reliability, low maintenance costs, increased market adoption and the success of our distributors in the oil and gas sector. 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 Turbine Corporation" 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
Image: company logoSource: Capstone Turbine Corporation
Released April 4, 2011