Capstone: Order Secured by Russian Distributor BPC
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Chatsworth California - Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world’s leading clean technology manufacturer of microturbine energy systems, announced that BPC Engineering, the company’s largest Russian distributor, secured an order for a Kazakhstan pipeline project. The order, consisting of seven C30 microturbines, is the second order to be shipped to BPC Engineering since March 2015.
“This pipeline project was delayed since the beginning of 2015 and is now just starting to move forward,” said Alexander Skorokhodov, BPC Engineering’s Chief Executive Officer. “The project consists of seven C30s that will provide cathodic protection along the pipeline in addition to lighting and other small critical loads in Kazakhstan,” added Mr. Skorokhodov.
BPC Engineering is one of Capstone’s largest distribution partners, with over 1,400 microturbines in operation in Russia, Belarus, Kazakhstan and Ukraine. The company is a leading supplier of energy efficient solutions and state-of-the-art equipment for distributed power generation. The Beyneu-Shimkent pipeline project originated approximately two years ago and had been removed from Capstone’s backlog last year due to the uncertainties surrounding the project timing in light of the Russian economy. Currently, the pipeline has over fifty microturbines ranging in size from C30s to C200s, powering everything from shut off valves, telecom operations, gas metering and service campuses.
“We continue to work closely with BPC and this order shows that there is still life in the global oil and gas sector,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. “Despite geopolitical constraints, BPC continues to sell and support Capstone products and I am optimistic about BPC’s strategy to grow its Capstone business this upcoming year,” added Mr. Crouse.
“I am pleased to see that BPC Engineering is beginning to demonstrate signs of a potential recovery within their market by securing product orders and resuming product installations. As product shipments play a critical role in Capstone’s cash planning process, BPC Engineering has agreed to pay cash prior to shipment for all future product releases from backlog, and to pay an additional 15 percent of the total value for each shipment in order to lower their past-due accounts receivable balance,” said Darren Jamison, Capstone's President and Chief Executive Officer.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (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 approximately 8,700 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.