CHATSWORTH, Calif., July 22, 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 its global network of distributors has committed to grow its sales force with the addition of 100 salespeople across the global distribution channel by the end of the 2015 calendar year in order to target and advance the pursuit of growing distributed generation market opportunities.
With more than 120 attendees at its 2015 Global Distributor Conference, Capstone dedicated a week to covering a number of updates that ranged from products and services to applications and marketing. Capstone kicked off the conference with the introduction of its new website, an intuitive platform that serves as a primary resource for market, product and service information. The new design, content and features will help facilitate a higher level of customer and distributor interaction with an increased use of project case studies and social media.
"Regatta will participate in the goal of adding 100 or more salespeople globally as invited by Capstone's senior leadership," said Steve Acevedo, President and CEO of Regatta Solutions headquartered in California. "This strategy is a testament to the strength of Capstone's global distribution channel and the demand we are seeing for Capstone products in our territory."
"We trust Capstone's guidance and will do our part to help grow the sales force in our territory in Mexico so we both get maximum benefit from the growing interest in distributed generation," said Alejandro Muńoz, President of DTC Ecoenergía. "We have seen and will continue to see significant growth in the Mexican energy industry going forward. The conference gave us the chance to network with other distributors, which will help us learn and accelerate our growth," added Muńoz.
Capstone's Global Distributor Conference provided distributors the opportunity to strengthen company relations and share best practices. Capstone held technical and sales training sessions to further educate its distributor network and brainstorm ideas for future success. Additionally, selected distributors presented case studies detailing the many uses of Capstone microturbines across a broad range of applications around the world.
"Since becoming Capstone's first distributor over a decade ago, we have seen opportunities progressively grow for combined heat and power, and oil and gas projects across our North American territory," said Sam Henry, Horizon Power Systems President. "We're committed to build our team to meet this increased demand for microturbine power," added Henry.
"Our growing and maturing distributor organization gives Capstone a significant competitive advantage which is the cornerstone for future growth," said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. "The conference finished on a very positive note with distributor organizations committing to the addition of new human capital to be deployed to assure we continue to address the opportunities that exist in the global marketplace," added Crouse.
At March 31, 2015, Capstone's growing vertical distribution channel was made up of 88 independent distributors and 9 independent OEMs representing 740 dedicated employees in 152 locations worldwide. Capstone was successful in signing 10 new distribution partners over the last year in new and emerging regions. Capstone remains focused and dedicated to expanding its global reach utilizing its distribution channel (and not a direct sales force) for the greatest possible business leverage. Capstone signed contracts with new distributors in France, Jordan, Kuwait, the Netherlands, Republic of Moldova, Saudi Arabia, Trinidad and Tobago, Turkey and the United States last year.
"In light of the current macroeconomic headwinds we are facing as a company, the continued success in new geographies and new market verticals is critical for Capstone's top line growth this year. In addition, it further diversifies our product and service businesses and strengthens our global brand," said Darren Jamison, President and Chief Officer at Capstone Turbine. "We have shipped over 8,500 microturbines to 73 countries but growth in Mexico, South America, Africa and the Middle East is critical to overcome the current downturn in the Russian market and the overall oil and gas markets worldwide," 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 strength of our distribution network and increased demand for our products. 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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