Capstone Secures Several Energy Efficiency Projects in Mexico, a Growing CHP Market
October 01 2018 - 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
orders for three C1000 Signature Series and two C30 microturbines
for CHP/CCHP projects for multiple industrial facilities in Mexico.
DTC Ecoenergía, Capstone’s distributor in Mexico, secured all five
projects.
As a country, Mexico needed more energy security while
decreasing the high price of electricity that was expensive to the
public and dragged the competitiveness of the country down. The
only way to do that was to create a competitive retail and
wholesale market, but that required massive changes in the
legislation. As a result, Mexico transitioned its state-run energy
sector into a market that is open to competition. Their goal is to
make clean energy 38.2% of its total power generation by 2031 from
the current 20%.
Along with low-emissions, the C1000s and C30s feature low noise
levels, low maintenance costs, a low carbon footprint and
industry-leading reliability and resiliency.
Darren Jamison, President and Chief Executive Officer of
Capstone, said, “Mexico has become one of our largest international
markets over the last couple of years and continues to provide
strong growth opportunities, specifically in the industrial
CHP/CCHP market vertical.”
“Improving our geographic diversification is a key strategic
initiative, and our efforts are resulting in significant new
bookings from areas that include Mexico and the rest of Latin
America, as well as areas such as Africa, Australia and the Middle
East. Concurrently, the CHP energy efficiency market vertical
continues to grow and was our largest vertical last year,” added
Mr. Jamison.
“The market environment for cogeneration makes it an ideal
solution for the Mexican industrial sector,” commented Alejandro
Muñoz, President of DTC Ecoenergía. “The clean and green
microturbines will provide on-site combined heat and power (CHP)
that is far more efficient and environmentally beneficial than
utility power,” added Mr. Muñoz.
As of 2014, independent generators, or Productores
Independientes de Energía, held about 12.9 GW of generation
capacity in Mexico, consisting mostly of combined-cycle, natural
gas-fired turbines, according to the U.S. Energy Information
Administration (EIA).
“Electricity use and peak demand are growing, privately owned
behind-the-meter distributed generation is playing a much larger
role in Mexico’s electricity supply. There are several known
sectors with unfulfilled cogeneration potential,” said Jim Crouse,
Executive Vice President of Sales and Marketing at Capstone.
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 DQS-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.For more information about the company, please visit
www.capstoneturbine.com. Follow Capstone Turbine on Twitter,
LinkedIn and YouTube.
Forward-Looking Statements
This press release contains “forward-looking statements,” as
that term is used in the federal securities laws. Forward-looking
statements may be identified by words such as “believes,”
“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 CorporationInvestor and investment
media inquiries:818-407-3628ir@capstoneturbine.com
Integra Investor RelationsShawn M.
Severson415-226-7747cpst@integra-ir.com
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