Capstone Turbine Corp.: New Order from Canada secured
Chatsworth, California - Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean-technology manufacturer of microturbine energy systems, today announced that its Canadian distributor, Horizon Power Systems, sold three C1000 Power Packages to Genalta Power Inc. in Canada.
Genalta Power (www.genaltapower.com) is a privately held Canadian corporation that develops, owns, and operates independent power plants that produce and sell environmentally-friendly electricity from waste energy sources. These sources can include waste heat recovery, waste fuel gas, and waste pressure projects. The company capitalizes on opportunities in the independent power market by actively pursuing development of dependable, cost-effective and environmentally responsible power generation facilities. Genalta is developing projects in strategic regions of North America with an emphasis on the oil and gas industry.
The three Capstone C1000s will be installed at a Genalta client's natural gas processing plant.
The C1000 Power Packages will be fueled by gas captured from refinery flares. Today, a number of refineries, landfills, and wastewater treatment plants flare waste gas into the atmosphere, which increases CO2 gas emissions and global warming. Capstone microturbines are an ideal solution since they use the waste gas to produce reliable and clean renewable energy onsite.
"Genalta is committed to converting waste energy sources into power that can be used at client sites or sold back to the grid," said Graham Illingworth, Genalta CEO. "Capstone microturbines are ideal power sources for these types of renewable energy applications.
"The three C1000s will help the processing plant lower its energy costs and emissions," said Todd Taylor, Horizon's Vice President and Corporate Account Manager in Canada. "The province of Alberta, Canada, has strict regulations to reduce gas flaring among various industries. The Capstone microturbines will play a key role in helping the plant meet those regulations."
Jim Crouse, Capstone's Executive Vice President of Sales and Marketing added, "This sale is a strong indication of Capstone's opportunity to significantly grow our established presence in the Canadian oil and gas industry. Horizon Power Systems has deep experience and strong relationships with oil and gas producers throughout the country."
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 Turbine has shipped over 6,000 Capstone MicroTurbine(R) 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, Mexico City, Nottingham, Shanghai and Singapore.
The Capstone Turbine Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6212
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about compliance with government regulations, increased sales of our products in Canada and the fuel efficiency, reliability and environmental advantages of our products. 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.
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