Capstone and MultiChill Announce Strategic Partnership to Deliver Air-Cooled Absorption Chillers and Water Making Systems
CHATSWORTH, Calif., Dec. 9, 2015 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, today announced a strategic partnership with MultiChill Technologies, Inc. ("MultiChill"). The partnership will allow Capstone to deliver air-cooled absorption chillers and water making systems to end users in conjunction with its flagship C30 and C65 microturbines.
MultiChill's MultiGen system is available to Capstone customers for use in both new and existing projects and installations. The MultiGen system utilizes waste exhaust gas heat to provide cooling capabilities for combined cooling, heating and power (CCHP) applications, enabling Capstone's C30 and C65 microturbines to achieve up to 90 percent efficiency. Furthermore, an integrated water making system is able to capture water from the atmosphere, refrigeration or air conditioning and supply it to the end user.
"We have over 50 MultiGen systems in the field to date, and about 54,000 operating hours in both commercial and residential applications," said Wallie Ivison, CEO and Director at MultiChill. "We anticipate that these systems will greatly enhance the salability of Capstone microturbines as a multiple output system, as it provides flexibility as to what the cooled air can be used for," added Mr. Ivison.
According to MultiChill's website (www.multichilltech.com), it is being projected that by the year 2030, global demand for water will be 40 percent higher than it is today. The worldwide demand for fresh water has nearly tripled over the last century, and severe or chronic water shortages are expected for one-third of the population by 2025. This growing demand opens up countless opportunities for Capstone and MultiChill to address a rapidly approaching water crisis with an innovative and cost-effective solution.
"MultiChill's state-of-the-art water making and energy saving chiller technologies will provide our customers with an even cleaner and more efficient CCHP solution," said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. "This is an excellent addition to our product lineup, especially for developing regions, as we can now offer a complete solution involving electricity, heating, cooling and water production," added Mr. Crouse.
An air-cooled, dual-fired MultiChill 5T absorption chiller is currently being showcased and demonstrated at the 2015 Power-Gen International show (booth #908) in Las Vegas, Nevada.
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 CCHP market and the benefits of the strategic partnership with MultiChill. 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 December 9, 2015