Capstone Continues to Develop its CHP and CCHP Market with 2.2MW of New Signature Series Product for Two of the Largest Offic...
April 03 2017 - 7:30AM
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 C1000S microturbine and two C600S microturbines to
enhance two of the largest office towers currently under
construction in New York City. RSP Systems, Capstone’s distributor
for the greater New York area and Connecticut, secured the order,
which is expected to be commissioned in 2019.
“We continue to successfully diversify our market verticals by
concentrating on CHP and CCHP as energy efficiency is a big growth
market for us globally,” said Darren Jamison, Capstone’s President
and Chief Executive Officer. “Our recently launched C1000S
Signature Series product is targeted directly at customers like
hotels, office buildings, hospitals, retail and industrial
applications and I’m proud to say the Signature Series product is
performing exceptionally well and exceeding most customers’
expectations,” added Mr. Jamison.
Three natural gas-fueled Signature Series microturbines will be
installed in two separate combined cooling, heat and power (CCHP)
applications and operate in parallel with the electrical grid. The
clean waste heat from the microturbines will be used to provide
domestic hot water, space heating and cooling based on seasonal
needs.
In addition, RSP Systems placed a separate order for two C65
microturbines as part of Hurricane Sandy Relief for a residential
housing complex on the Lower East Side of Manhattan. The retrofit
project will strengthen the durability of the facility by providing
backup power during utility outages. The installation is expected
to be commissioned in late 2017.
“Both projects were undertaken based on only the commercial
viability of the Capstone microturbines in a CCHP application, and
without any grant money required to support the economics like
other clean technologies that are reliant on tenuous government
subsidies,” said Cory Glick, RSP Systems’ President. “We are
delighted that clients are utilizing Capstone microturbine
technology purely based on the independent savings benefits they
inherently provide,” added Mr. Glick.
According to the U.S. Energy Information Administration (EIA),
the price of natural gas in New York City has decreased
exponentially over the last year. New York’s total energy
consumption ranks among the highest in the nation, yet state
emissions from electricity generation have declined since 2000 due
to increased natural gas use.
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 Asia.
This press release contains "forward-looking statements," as
that term is used in the federal securities laws, about the
advantages and performance of our Signature Series product
offerings as well as the successful diversification of market
verticals in the CHP and CCHP markets. 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
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