Capstone Turbine Corporation: New distributor in Nigeria
CHATSWORTH, Calif., May 26, 2010 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST - News), the world's leading clean technology manufacturer of microturbine energy systems, has named Makon Power Systems as its distributor in Nigeria.
The company immediately sold two C65 microturbines. One will be installed in an office building in Lagos, Nigeria's most populated city and Africa's second largest, and the other in a Nigerian village, where the microturbine will be the sole power source.
Based in Houston, Texas, with a second office in Lagos, Makon has strong ties in Nigeria and the energy industry. Its founders are Nigerian and have worked extensively in the oil and gas industry worldwide.
As a Capstone distributor, Makon will sell and service low-emission Capstone microturbines that produce 30 kilowatts to 1 megawatt of reliable power to Nigerian hotels, manufacturers, oil and gas producers, telecommunication companies, schools and universities, office buildings, mining operations, landfills, data centers and more.
Nigeria, located on Africa's west coast, today faces an extreme energy shortage and is in desperate need of reliable and efficient energy systems. With more than 150 million people, it is Africa's most populated country. A Nigerian Energy Policy report in 2003 estimated the population connected to the grid is short of power more than 60 percent of the time. In addition, less than 40 percent of the population is even connected to the grid.
"The energy situation in Nigeria is critical," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "Its grid structure is extremely unstable, and energy produced there creates severe pollution. Capstone microturbines are a smart energy solution because they are reliable, can operate independently of the grid, produce clean energy and run on a variety of fuel types."
"Makon is proud to offer Capstone products to the Nigerian market," said Ademola Ajakaye, Makon's Chief Operating Officer. "Nigerian businesses need an uninterrupted supply of power and can't rely on the nation's grid system. So businesses of all sizes are increasingly supplementing utility power with their own generators. Capstone products are an ideal on-site power choice."
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST - News) 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.
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 the advantages of our products and use of our products in Nigeria. 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.
"Capstone Turbine Corporation" 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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