Capstone Microturbines to Generate Steam for Two German Customers
CHATSWORTH, Calif., Dec. 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 orders for a C800 microturbine and a C200 microturbine to generate steam for two customers in Germany.
E-Quad Power Systems GmbH, Capstone's German distributor, secured the orders, which are expected to be commissioned in spring 2016. Each methane-fueled microturbine will be installed in a combined heat and power (CHP) application to be used in all phases of the production process.
"E-Quad in Germany is a great example of a maturing distributor who is helping us reach our goal of improved geographic and market diversification by working collaboratively to rapidly expand their CHP business as quickly as possible," said Darren Jamison, President and Chief Executive Officer of Capstone Turbine. "The CHP energy efficiency market continues to expand globally and last quarter comprised 68% of our sales," Mr. Jamison continued.
The exhaust from the microturbines will be utilized as combustion air for the nearby burners and generate steam at 10 bar using state-of-the-art steam boilers from two different boiler companies. The CHP systems, combined with the steam boilers, will maximize the overall energy efficiency for production and enable the lowest emissions on the market.
Both end-users were looking for a low-emission technology that could effectively make steam and provide significant energy savings compared to other technologies. With system efficiency levels of more than 85 percent, both customers will soon benefit from having lower operating expenses and minimal system maintenance.
"We are seeing an ever growing demand for cogeneration technologies in Germany," said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. "With the German coalition government's recent €1.5 billion investment in the county's CHP sector, we anticipate more projects like these in the future," added Mr. 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 over 8,600 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 CHP market and increased opportunities in Germany. 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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Released December 1, 2015