Capstone Expands Biogas Market Share in Taiwan with First C1000 Signature Series Microturbine
CHATSWORTH, Calif., Oct. 20, 2017 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today it has secured its first C1000 Signature Series order for a biogas project in Taiwan.
Aerospace Industrial Development Corporation (AIDC), Capstone’s exclusive distributor for Taiwan, secured the order. The biogas-fueled microturbine will be installed at a large piggery. Pig waste is processed through an anaerobic digester to make methane-based biogas, which is then utilized as a renewable fuel by the Capstone microturbine. The microturbines were selected for the project due to their high reliability, low maintenance requirements, low emissions and use in other biogas applications across the globe.
“We are excited to see our first Signature Series order in Taiwan,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. “AIDC has a successful history of developing the biogas market in Taiwan, and this project further reinforces them as the go-to solution provider for biogas projects in the region. Additionally, with the government’s focus on incentivizing biogas energy projects on these farms, we feel AIDC is well-positioned in the marketplace for further success,” added Mr. Crouse.
According to the Energy Information Administration (EIA), in 2015 Taiwan imported nearly 98% of its energy needs. On February 20, 2017, as part of the government’s efforts to reduce dependence on imported power, Taiwan announced an $84 million government project to promote and subsidize the production of biogas in piggeries with at least 5,000 or more pigs. Pig farming is a major sector of Taiwan’s agricultural industry, with more than 7,600 piggeries nationwide.
“This order is significant as it continues to demonstrate our penetration into the expanding biogas market in Taiwan which is government-backed,” said Darren Jamison, President and Chief Executive Officer of Capstone Turbine. “Last year the biogas or renewable energy market made up about 7% of our total revenue but this year’s market success of our new Signature Series product could drive additional revenue in this key market vertical,” added Mr. 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 has shipped over 9,000 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone 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 9001:2015 and ISO 14001:2015 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East and Asia.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, including the advantages of our biogas applications and sales into the biogas or renewable energy 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.
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Released October 20, 2017