CHATSWORTH, Calif., Nov. 14, 2016 (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 a C1000 Signature Series microturbine complete with five integrated hot water heat recovery (HRM) modules.
“This order is exciting for several reasons. It is our second new upgraded Signature Series C1000 to be sold into the critical New York area market and is going into a leading food retailer facility. Additionally, it is one of our first C1000s sold with our new integrated HRM modules in the United States,” said Darren Jamison, President and Chief Executive Officer at Capstone. “The integrated HRMs not only save the customer money with increased efficiency and lower installed costs, but they also add about 25% additional revenue to the total value of the Capstone content of the project,” added Mr. Jamison.
RSP Systems, Capstone’s distributor for greater New York area and Connecticut, secured the order, which is scheduled to ship in March and to be commissioned in late 2017. Capstone microturbines were selected for their ultra low emissions and ability to reduce the manufacturer’s operational costs while also providing reliable backup power. In addition, the project qualified for a New York State Energy Research and Development Authority (NYSERDA) incentive grant that was awarded to this leading food retailer in the New York area.
The natural gas-fueled microturbines will be installed in a combined heat and power (CHP) configuration and operate in parallel with the main electrical distribution system to power the facility. The thermal energy generated will offset the usage of the gas-fired boilers and be used to make hot water for the onsite cleaning system. Additionally, the microturbine will provide approximately 700kW of backup power in the event of a utility outage.
According to the U.S. Energy Information Administration (EIA), the New York Department of Public Service recently extended energy savings targets under the state’s Energy Efficiency Resource Standard (EERS) and allocated funds from its Clean Energy Fund. These incentive funds are meant to encourage the purchase of more efficient power generating equipment, which helps meet the goals of the country’s Clean Power Plan.
“Capstone’s Signature Series microturbines with integrated HRMs provide an industry leading CHP solution that is light weight, quiet, compact and affords lower installation costs,” said Jim Crouse, Capstone’s Executive Vice President of Sales and Marketing. “RPS Systems continues to add to their impressive New York area installed base of marque installations that already include several Class A office buildings, mixed use buildings, industrial applications, hospitals, universities, a sports center, zoo and now a leading food retailer. RSP is successful by offering superior up front sales and applications support combined with exceptional aftermarket support. Capstone is very excited to see their continued growth and have RSP as part of the Capstone family,” 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 has shipped approximately 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 China.
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of Capstone products and HRM modules in CHP applications including low emissions, reduction of operational costs, reliability, efficiency, revenue generation, and availability of government grants. 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 inquiries: 818-407-3628 ir@capstoneturbine.com INVESTORS: Dian Griesel Int’l Cheryl Schneider 212-825-3210
