CHATSWORTH, Calif., Sept. 23, 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 an order for a C1000 microturbine to upgrade a processing plant for an Italian silica manufacturer.
IBT Group, Capstone's Italian distributor, secured the order, which is scheduled to be commissioned in December 2015.
The natural-gas-fueled C1000 microturbine will be installed in a combined heat and power (CHP) application to provide base load power to the processing facility and heat to continuously dry the silica during production. The 1MW microturbine is modular so that it can easily be expanded to accommodate future increase in facility load. Capstone microturbines do not use oil or lubricating liquids to operate, which allows for minimal maintenance and increased uptime, maximizing production and profitability.
Capstone microturbines were selected for their low emissions, as well as the associated cost savings. The silica manufacturer is expected to save up to 30 percent in energy costs while also benefiting from incentives provided by the Italian state for implementing a high-efficiency cogeneration plant. The microturbine power plant will reduce the company's annual emissions by more than 1,700 tons per year and the expected payback on the investment is less than two years.
"The drying process application is very important to us," said Ilario Vigani, CEO at IBT Group. "We feel that it will lead to further projects within the chemical industry, one of the sectors most in need of energy efficiency, in order to gain competitiveness," added Vigani.
"IBT Group has been a valuable partner for Capstone in Italy," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "We are seeing more and more high-profile orders coming from this region as manufacturers within various industries realize the economic and environmental benefits of utilizing our patented microturbine technology," added Crouse.
"Companies across numerous verticals and around the world are realizing there is a better way to procure your electrical and thermal energy that saves both money and the environment," said Darren Jamison, Capstone's President and Chief Executive Officer. "We are seeing more and more orders for combined heat and power (CHP) which is helping offset the slowdown in our oil and gas business. We are determined to quickly become as diversified as possible from both a market vertical and geographic perspective," 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 advantages of our products and the growth of the Italian 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