Capstone Turbine (NASDAQ:CPST) Continues Market Penetration in Mexico With C600 Signature Series Microturbine Order
Order Increases Capstone's Mexican Fleet to Over 46 Megawatts (MW)
VAN NUYS, CA / ACCESSWIRE / March 17, 2021 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading manufacturer of clean technology microturbine energy systems, announced today that it has received an order for a five-bay C600 Signature Series microturbine to be installed in a combined heat and power (CHP) application for an industrial customer in Mexico. The order, secured by DTC Ecoenergía (www.dtc.mx), Capstone's exclusive distributor for Mexico, increases Capstone's Mexican fleet to over 46 Megawatts (MW).
According to the Energy Information Administration (EIA), Mexico's population is expected to grow to more than 150 million in 2050 from 125 million today. This, together with productivity improvements, is expected to drive economic growth. As a result, energy demand is predicted to increase significantly. Power generation from renewable sources is anticipated to grow thanks in part to targets and support for clean energy solutions.
"Back in 2012, Mexico became the first, large, oil-producing emerging economy to adopt climate legislation with common-sense goal setting," said Darren Jamison, President and Chief Executive Officer. "An additional 2018 decree brought Mexico's domestic emission reduction targets in line with the Paris Agreement on climate change, which at that time put it ahead of the U.S. on climate change initiatives. However, the new Biden administration recently signed an executive order to rejoin the U.S. into the Paris climate accord, his first major action to tackle global warming," added Mr. Jamison.
A five-bay Capstone C600S package will provide 24/7 reliable and continuous electrical power and thermal energy for the customer. Capstone's scalable on-site energy efficiency systems are engineered to meet the large electrical and thermal demand requirements of industrial manufacturers, delivering energy independence with higher operational efficiency than the local utility grid.
"DTC Ecoenergía is experiencing tremendous growth with the sale of Capstone energy efficiency systems in the manufacturing sector," said Alejandro Muñoz, President of DTC Ecoenergía. "Despite the disruptions we faced during the COVID-19 pandemic, the Mexican-based manufacturing industry looks poised for growth in the months to come," concluded Mr. Muñoz.
Environmentally-conscious industrial leaders throughout Mexico have partnered with DTC on over 100 projects and capitalized on Capstone's efficient microturbine technology for a variety of solutions and applications. Capstone-powered CHP solutions not only allow customers to quickly realize the benefits of Capstone's highly reliable, low-emission technology but also lower their energy costs while ensuring minimal downtime and production losses.
One of the core challenges faced by the manufacturing industry is the implementation of highly-reliable energy solutions for their facilities that not only reduce operational costs and increase reliability but also support sustainability goals. Utilizing the heat by-product from a microturbine allows operators to reduce emissions and save added costs that would otherwise be required to produce heat or steam in a separate unit. While traditional electricity from the grid with coal and gas-fired plants produce power at 33% efficiency, Capstone CHP systems can reach efficiencies of more than 80%.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) is the world's leading producer of highly efficient, low-emission, resilient microturbine energy systems. Capstone microturbines serve multiple vertical markets worldwide, including natural resources, energy efficiency, renewable energy, critical power supply, transportation and microgrids. Capstone offers a comprehensive product lineup via our direct sales team, as well as our global distribution network. Capstone provides scalable solutions from 30 kWs to 10 MWs that operate on a variety of fuels and are the ideal solution for today's multi-technology distributed power generation projects.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: email@example.com. To date, Capstone has shipped nearly 10,000 units to 83 countries and in FY20, saved customers an estimated $219 million in annual energy costs and 368,000 tons of carbon.
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This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations, beliefs, plans, intentions, and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
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