Capstone to Supply Propane-Fueled C800 Microturbine at Large Caribbean Hotel
May 10 2016 - 8:30AM
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 C800 microturbine to power a large hotel in the
Caribbean region.
Energy Systems of Caribbean, Capstone’s distributor for the
Caribbean region and Puerto Rico, secured the order.
Darren Jamison, President and Chief Executive Officer of
Capstone Turbine, said, “Improving our geographic diversification
is a key strategic initiative and our efforts are resulting in
significant new bookings from growth areas that include Mexico,
South America, Eastern Europe, Australia, China, Africa and the
Middle East. The market in the Caribbean region and Puerto Rico is
also developing nicely as utility rates continue to increase and
propane prices remain very reasonable.”
The propane-fueled C800 microturbine will provide power to
multiple buildings on the hotel property and will be installed in
combined heat and power (CHP) application. The microturbine
will provide primary power to the facilities and the exhaust energy
will be utilized to generate steam at the property, boosting the
overall efficiency of the hotel’s energy system to nearly
80%.
The hotel was looking for energy independence and chose Capstone
in part because of its superior performance on propane. Power in
the Caribbean region can be unpredictable and subject to power
fluctuations so the hotel chose to generate their own power on-site
with reliable Capstone microturbines. Additionally, the
microturbine-powered CHP system provides improved efficiency,
helping the hotel achieve its sustainability goals.
According to the International Energy Agency (IEA), in 2015, the
Caribbean Water and Power Authority collective started converting
its electric generating stations to use propane instead of residual
and diesel fuel oils. The Authority aims to cut its imported fuel
costs by 30%.
“As we continue to see a shift in island power from traditional
diesel fuel oils to cleaner propane, especially in the Caribbean
region, Capstone is well positioned to provide clean, reliable
power while helping the environment at the same time,” added Mr.
Jamison.
“Even with low diesel prices we continue to see customers
switching to propane to generate reliable on-site power,” said Jim
Crouse, Executive Vice President of Sales and Marketing at Capstone
Turbine. “Not only are we able to positively impact their bottom
line, but we also do so with a rugged and environmentally friendly
product,” 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 8,800 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
9001:2008 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.
This press release contains "forward-looking statements," as
that term is used in the federal securities laws, about the
advantages of Capstone products and CHP applications, new bookings
in worldwide market growth areas, and business growth potential in
the Caribbean region. 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
ir@capstoneturbine.com
INVESTORS:
Dian Griesel Int’l
Cheryl Schneider
212-825-3210
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