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CHATSWORTH, Calif., July 20, 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 be installed at a power generation facility owned by Kineticor Resource Corporation, a Canadian energy services company focused on providing customized and reliable onsite power generation solutions for the resources sector. Kineticor builds, owns and operates power generation equipment that effectively converts associated gas to power.
Capstone's distributor Horizon Power Systems secured the order, which is expected to be commissioned in October 2015. The grid connect C1000 microturbine will utilize the associated gas, also known as flare gas, produced by a central Saskatchewan energy company through a successfully negotiated power purchase agreement (PPA) with Kineticor. Capstone microturbines were chosen for fuel economics as well as their ability to effectively run on gas with high levels of hydrogen sulfide.
According to the Canadian Association of Petroleum Producers (CAPP), Canada is the world's fifth-largest natural gas producer and has enough natural gas reserves to meet current national energy demand for the next 300 years. Additionally, about 30 percent of Canada's entire energy needs are met by natural gas.
"Throughout western Canada Horizon Power Systems has seen more interest in using highly reliable Capstone microturbines to convert flare gas to useable energy," said Sam Henry, President of Horizon Power Systems. "The fuel flexibility of Capstone microturbines is a critical competitive advantage. The high level of hydrogen sulfide in this fuel makes traditional reciprocating engine generator sets and other power sources difficult to employ, but Capstone microturbines operate seamlessly across a wide variety of fuels."
"Strict guidelines have been imposed under the Saskatchewan Energy and Resource Directive S-10 to reduce the flaring, incinerating and venting of associated gas," said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. "Capstone microturbines can efficiently run on this often wasted resource to generate clean energy for end users," added 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 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.
The Capstone Turbine Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6212
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the environmental advantages of our products and the advantages of our products over competing technologies. 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.
"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 Corporation Investor and investment media inquiries: 818-407-3628 firstname.lastname@example.orgNEXT ARTICLE
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