Capstone Secures C200 Order for One of the Largest Gas Field Reserves in Europe
January 29 2019 - 8:30AM
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:
CPST), the world’s leading clean technology manufacturer of
microturbine energy systems, announced today that is has secured an
order for a C200 from Capstone’s distributor in Italy, Fores
Engineering. The system will be installed on an unmanned offshore
production platform in the North Sea.
The C200 microturbine will ship with specifically designed
packaging making it capable of withstanding the harsh elements
expected on an unmanned offshore platform. The Capstone system will
provide prime power for the entire platform. Looking for a solution
that would tolerate gas quality fluctuations and meet the rigorous
emissions regulations in the region, the operator turned to
Capstone’s regional oil and gas distributor for a reliable, low
emission solution.
“Capstone’s C200 systems continue to build a reputation as a
go-to-solution for unmanned offshore oil and gas operations,” said
Darren Jamison, President and Chief Executive Officer at Capstone
Turbine Corporation. “Most of the time these offshore platforms are
very remote and not easily accessible. The fact that our
microturbines require very low maintenance due to our patented air
bearing technology makes them the ideal choice compared to
traditional reciprocating engine generators,” added Mr.
Jamison.
Located in the Southern North Sea offshore from the United
Kingdom, Tolmount is the largest gas prospect for the area in
recent years. The greater Tolmount reserves are estimated to
contain up to one trillion cubic feet of gas with first gas
extraction targeted in 2020. The field is expected to produce gas
for 10 to 15 years.
“Following what seemed to be an industrywide slowdown in
investments for oil and gas production due to volatile oil and gas
prices, producers appear to be again starting to invest in new
operations worldwide,” said Jim Crouse, Executive Vice President of
Sales and Marketing. “Whether onshore or offshore, our
microturbines have proven themselves a reliable investment,”
concluded Mr. Crouse.
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 has shipped over 9,000
Capstone Microturbine systems to customers worldwide. These
award-winning systems have logged millions of documented runtime
operating hours. Capstone 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 DQS-Certified ISO 9001:2015 and ISO
14001:2015 certified company, Capstone is headquartered in
the Los Angeles area with sales and/or service centers in
the United States, Latin America, Europe, Middle East and
Asia.
For more information about the company, please visit
www.capstoneturbine.com. Follow Capstone Turbine on Twitter,
LinkedIn and YouTube.
Forward-Looking Statements
This press release contains “forward-looking statements,” as
that term is used in the federal securities laws. Forward-looking
statements may be identified by words such as “expects,”
“believes,” “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.
“Capstone” and “Capstone Microturbine” are registered trademarks
of Capstone Turbine Corporation. All other trademarks
mentioned are the property of their respective owners.
CONTACT: |
Capstone Turbine
CorporationInvestor and investment media
inquiries:818-407-3628ir@capstoneturbine.comIntegra Investor
RelationsShawn M. Severson415-226-7747cpst@integra-ir.com |
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