22.11.2002: Meldung: Capstone Turbine Names New CEO
"We are delighted to have someone of Ms. Liggett"s caliber to work with us at Capstone during this very important stage in the Company"s life," said Eliot Protsch, Chairman of Capstone Turbine Corp. "Emily brings a breadth of experience having served in a wide variety of roles throughout her career. During a 16-year period with Raychem Corporation she had lead positions in divisional marketing and sales functions, was a divisional director of operations, was the general manager of a telecommunications and energy products business and ultimately was the chief executive officer of the Elo TouchSystems subsidiary. In addition to this strong business background, Ms. Liggett holds two degrees in engineering and an MBA."
Dr. Almgren commented, "I am pleased to have Ms. Liggett join our management team and look forward to her leading the company in this interim timeframe. This change will permit me to further my efforts on our strategic partnering initiatives and will also help ensure a smooth transition through the search for a new CEO."
In addition, Capstone Turbine Corporation announced that for the fourth quarter to date the company has shipped 0.6 MW of product and has recorded orders for an additional 1.7 MW of product. "We are continuing to experience the effects of the tight capital spending market," said Dr. Almgren. "While these adverse market conditions are affecting our sales, we are continuing our efforts to develop the organization and to position the company for the time when market conditions improve."
About Capstone Turbine
Capstone Turbine Corporation is the world"s leading producer of very-low-emission microturbine systems used for onsite power production. In 1998, Capstone was the first to offer commercial power products utilizing microturbine technology, the result of more than ten years of focused research. Capstone Turbine has sold and shipped over 2,400 commercial production Capstone MicroTurbine systems to customers worldwide. These award-winning systems have documented more than 2 million hours of operation serving, among others, the following applications:
· Micro-cogeneration: combined heat/power/chilling/drying solutions
· Resource recovery: converting oilfield, landfill and sewage waste gases into electricity
· The 9s market: power security, quality and reliability, and
· Hybrid electric vehicles (HEVs): onboard generation
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about Capstone and its management. These forward-looking statements are subject to assumptions, risks and uncertainties that may cause Capstone"s actual results to be materially different from any future results expressed or implied in such statements. Such factors include, but are not limited to, Capstone"s dependence on its management and key employees and its ability to integrate new employees and for such new employees to adequately perform their duties; Capstone"s ability to successfully execute its production, strategic partnering and marketing programs; and other factors detailed in the Company"s filings with the Securities and Exchange Commission. The information provided on sales to date and recorded orders speaks only as of the date hereof and is not necessarily indicative of results for the entire quarter. While the Company has traditionally experienced a larger portion of its sales in the last month of the quarter than in either of the prior two months of the quarter, this pattern is not assured and may not occur in any particular quarter. Further, orders received to date may be cancelled or altered, or may be scheduled or rescheduled for shipment in periods beyond the current quarter. As a result, this press release contains no projection for fourth quarter shipments or orders. Capstone assumes no duty to update the information provided on its sales or orders in the fourth quarter. 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.
Note: "Capstone Turbine Corp" is a registered trademark of Capstone Turbine Corporation.
All other trademarks mentioned in this press release are the property of their respective owners.
Capstone Turbine Corporation
Keith Field, 818/734-5465
Jill Fukuhara, 310/407-6539 (Investor Relations)