Capstone Turbine Corp:Follow-On Order for 24 C65s microturbines
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, received an order for 24 additional C65 microturbines for one of the world's largest independent oil and natural gas companies. This order is a follow-on order to an 18-unit C65 order received in August 2010. All 18 of the C65s purchased in August 2010 have been successfully commissioned by Capstone distributor Pumps & Service.
Pumps & Service has received approximately 12.5 MW of new orders over the past nine months from three major oil and gas companies exploring large shale reserves -- or plays -- in the United States. Customer adoption of Capstone microturbines in the oil and gas sector continues to expand in the U.S. The U.S. shale gas market is expected to grow substantially, especially since the U.S. Environmental Protection Agency's (EPA) Clean Air Act has strict requirements for emissions levels at natural gas sites.
The latest order for 24 low-emission C65 microturbines will provide prime power to central processing facilities and metering stations at remote well sites in the Eagle Ford shale play in South Texas. The Eagle Ford play is expected to emerge as a major oil and gas play in the United States over the next decade. Experts estimate it will rank sixth in size among the all-time giant oil fields in the U.S.
"The fact that Pumps & Service initially received an order for 18 C65s followed by an order for three C1000s, followed by another six C1000s before this most recent order for another 24 C65s shows real momentum in the shale gas space and is a testament to the quality of our innovative products and the ability of our distribution partner Pumps & Service to sell, install and maintain our products," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing.
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 5,000 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.
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This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the quality of our products, the ability of Pumps & Service to sell, install and maintain our products, compliance with certain air quality regulations and opportunities in the oil and gas sector. Forward-looking statements may be identified by words such as "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.
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