Capstone C600 Microturbine to Upgrade Offshore Oil Processing Platform in West Africa
September 21 2015 - 7:46PM
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 C600 microturbine to power oil processing equipment and
electrical submersible pumps on an oil platform off the western
coast of Africa.
The 600 kW microturbine will run on casing gas, otherwise marked
as waste during the oil production process, to help transform the
platform into an oil processing platform. Additional processing
equipment upgrades will be made in order to further increase the
efficiency of wellhead drilling and offshore oil processing aboard
the platform. The project is scheduled to be commissioned in
2016.
Offshore oil and gas platforms cannot suffer a loss of power
without running the risk of potentially disastrous results.
Capstone microturbines feature a patented air bearing technology
with only one moving part, making them rugged, reliable and a
perfect solution for any industry. The microturbines do not require
oil or lubricants to operate, and they deliver power via
state-of-the-art power electronics. This translates to higher
machine availability and longer maintenance intervals, providing a
significant performance advantage when compared to traditional
reciprocating engines.
According to the International Energy Agency's (IEA) 2014 Africa
Energy Outlook, energy demand in sub-Saharan Africa grew by around
45 percent from 2000 to 2012. However, with such limited access to
modern energy services and a severely unreliable grid supply, many
African businesses are forced to use privately owned diesel
generators to supplement their load demands.
"Africa is a new growth market for Capstone as energy demand in
the region has increased by 80 percent over the last decade," said
Jim Crouse, Capstone's Executive Vice President of Sales and
Marketing. "Africa is expected to hold a larger share of offshore
capital expenditure starting in 2016, which opens up an excellent
opportunity for us to provide clean and reliable microturbine power
to these operations," 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 8,500 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.
The Capstone Turbine Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6212
This press release contains "forward-looking statements," as
that term is used in the federal securities laws, about growth of
the African 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.
CONTACT: Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com
Investors:
Dian Griesel Int'l.
Cheryl Schneider/Tom Caden
212-825-3210
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