Follow-On Orders From North American Oil & Gas Producers
July 2012 – Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world’s leading clean technology manufacturer of microturbine energy systems, today announced that it received orders totaling two megawatts from two large North American oil and gas producers. One order is for a C1000 Power Package and the second order is for five C200 systems.
Capstone distributor Horizon Power Systems secured both orders. The C1000 Power Package is a follow-on order from an oil and gas producer for use in the Eagle Ford Shale Play in Texas. The second order for five C200 microturbines will provide one megawatt of prime power for a multi-use oil and gas pad in Alberta, Canada.
The C1000 follows the oil and gas producer’s purchase earlier this year of 12 microturbines that provide electricity for grid systems in the Eagle Ford Shale Play that power pump jacks for artificial lift. The C1000, which will power a central gas processing facility, will be installed and commissioned later this summer.
The five C200s purchased by the second leading oil and gas producer will be installed and commissioned in late August in Alberta, Canada. In addition to providing prime power for a multi-well pad, the C200s will power such ancillary equipment as coolers, motors, pumps, compressors, and lights.
“Capstone microturbines are quickly becoming the power-generation solution of choice for dozens of leading oil and gas producers throughout North America,” said Sam Henry, Horizon Power Systems President. “These orders illustrate the growing popularity of Capstone’s innovative technology to meet the tremendous demands of oil and gas producers.”
“These multiple follow-on orders continue to demonstrate that Capstone’s low-emission, durable, and highly-efficient microturbines are the preferred choice for around-the-clock production and optimized well site performance worldwide,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “Capstone has secured approximately a dozen new oil and gas customers in North America in the last 20 months, and we expect to see continued growth in the North American oil and gas market,” added Jamison.
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 6,500 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, 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 advantages of our products and continued growth in the oil and gas market. 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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SOURCE: Capstone Turbine Corporation
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