Capstone: Order from New Chinese Distributor
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Capstone Turbine Corporation (www.capstoneturbine.com) (CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced that it has received an order for multiple microturbines from a new distributor, JiangSu Jin Tong Ling (JTL), in China.
JTL provides large centrifugal fans, large centrifugal blowers and high voltage centrifugal blowers, among other products and services. Additionally, JTL offers natural gas-powered products as part of its energy saving and industrial environment protection services. JTL's products are mainly applied in steel smelting, thermal power generation, new suspension preheater cement, petrochemical engineering, sewage disposal, waste heat recovery and nuclear power, among others.
Darren Jamison, President and Chief Executive Officer of Capstone, said, “I am very pleased to welcome JTL to our distributor family in China as they have a very robust business and a solid platform from which to distribute our innovative products. Adding new distributors in key markets is essential to increasing and diversifying our revenue sources, which is an important part of our three-pronged recovery plan, along with reducing operating expenses and improving gross margins.”
The order is expected to be commissioned by September 2016. It is comprised of seven microturbines and covers Capstone’s complete product range: C1000, C200, C65 and C30. The units will be used in CHP and portable power applications, including a C200 to be installed at one of JTL’s factories.
According to the International Energy Agency (IEA), rapidly increasing energy demand in Chinese buildings is expected to continue to grow as a result of urbanization, further increases in per capita disposable income, and demand for more comforts and services.
“We are experiencing significant expansion in our opportunity pipeline in China. Together, JTL and Capstone can successfully implement our proven distribution model, resulting in sustained growth in the Chinese market,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone.