Capstone Microturbines to Upgrade New York University Research Facility and Bronx Residential Complex
CHATSWORTH, Calif., June 8, 2015 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it received two orders for C1000 microturbines for energy efficiency projects in New York City, New York. A single C1000 will be installed at a New York University research and learning facility while a second C1000 will replace the existing generators at the River Park Towers residential complex in the Bronx.
RSP Systems, Capstone's distributor for New York and Connecticut, secured both orders, which are to be commissioned in early 2016.
Both natural-gas-fueled C1000 microturbines will be installed in combined heat and power (CHP) applications in order to provide primary power and hot water to each location. Once commissioned, the microturbine systems will decrease the operating costs for both customers by shrinking demand during peak hours and cutting the overall energy purchased from the grid.
Capstone microturbines were chosen for their low emission profile and for holding the highest net efficiency rate at nearly 80 percent. Capstone is at the forefront of green building technology, ensuring that the New York University research facility and Bronx residential complex remain compliant with all current emissions laws and green building best practices.
"We are strongly encouraged by the growing acceptance of Capstone microturbines in the New York City area as it's a tremendous market opportunity with excellent economics for CHP customers," said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine.
"Our distributor in New York City has invested heavily in marketing, personnel, training and infrastructure over the last several years to be in position today to really penetrate this critical market, and I am encouraged to see the positive results of their efforts," said Darren Jamison, Capstone's President and Chief Executive Officer. "RSP Systems is a great example of how we are diversifying our business from oil and gas into the CHP market and how the maturation of our distribution channel will provide future top line growth," 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 8,500 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, United Kingdom, Mexico City, 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 growth of the New York City and CHP markets and the maturation of our distribution channel. 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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