CHATSWORTH and UPLAND, Calif., April 6, 2011 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation ( www.capstoneturbine.com ) (Nasdaq:CPST) has signed an OEM agreement with Sustainable Environmental Technologies Corp ( SET Corp ) (OTCQB:SETS). Capstone has received its first order from SET Corp and will supply microturbines and accessories used in the manufacture of SET Corp's high efficiency MultiGen cooling, heating, power and water generation systems. Additionally, SET Corp will leverage Capstone's extensive distributor network for sales support and after sale service.
"Our agreement with Capstone opens the door for us to access their vast network of distributors and customers for our MultiGen combined cooling, heating and power (CCHP) plus water generation systems, or CCHP +H20 as we call it," said Bob Glaser, SET Corp CEO. "We believe adding Capstone's distribution network to our existing distribution network with World Environmental Solutions Pty Ltd. significantly strengthens our presence globally."
Glaser noted, "Capstone's microturbines have received numerous awards in the combined heat and power industry, enabling us to say with total confidence that adding them as a supplier partner further adds to the high caliber quality of our MultiGen systems, both in workmanship and in the ability to deliver high efficiency, low emission cooling, heating, power and water."
Now that SET Corp has fully established its supply network, including using Capstone as a supplier, SET Corp has acquired an OEM license, marking its official transition into the role of original equipment manufacturer (OEM) for its environmental and water processing technologies, including the MultiGen and DynIX systems.
"By adding water production capabilities, SET Corp is raising the bar and redefining how customers can use Capstone's clean and green technology to meet higher levels of sustainability," said Jim Crouse, Capstone Executive Vice President of Sales and Marketing. "We see significant opportunities for SET Corp's MultiGen system as corporations seek to reduce their energy consumption and maintain greater control of their power and water supplies."
MultiGen is a highly efficient, reliable, low emission and commercially proven integrated solution that uses natural gas to power a turbine that in turn powers a chiller running SET Corp's patent-pending water from air generation unit. SET Corp is able to achieve 95% overall efficiency with the MultiGen product by the onsite generation of water and electrical power. This may result in greater efficiencies with respect to water and energy use, significantly improve security of supply and reduce greenhouse gas emissions, all at less cost. MultiGen is approximately 50% cheaper than using grid-supplied power for the same functions. Ideal for remote locations and disaster areas, MultiGen enables users to set up shop without relying on existing utility infrastructure and can significantly reduce the end user's carbon footprint.
About Capstone Turbine Corporation
Capstone Turbine Corporation ( www.capstoneturbine.com ) (Nasdaq:CPST) is the world's leading producer of low-emission Micro Turbine systems, and was the first to market commercially viable Micro Turbine energy products. Capstone Turbine has shipped over 5,000 Capstone Micro Turbine(R) 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, Mexico City, Nottingham, Shanghai and Singapore.
The Capstone Turbine Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6212
SET Corp
Headquartered in Southern California, Sustainable Environmental Technologies Corp. (SET Corp) is acquiring, developing and marketing strategic technologies that responsibly and economically solve environmental issues to bridge the gap between today's energy inefficient facilities and the sustainable development and design needs of tomorrow. SET Corp's technologies deliver essential resources for business operations while reducing their customers' environmental impact and conserving essential and diminishing resources. SET Corps' offering includes treatment, recovery, reclamation and re-injection services for produced water (from oil and gas production) and ultra-efficient tri-gen systems (that offer combined cooling, heating, and power generation) with the added capability of water production from a single energy source. (OTCQB:SETS)
The Sustainable Environmental Technologies Corp. logo is available at
This press release contains "forward-looking statements," as that term is used in the federal securities laws, about increased global presence, advantages of the MultiGen system and use of Capstone's products in the MultiGen system. 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.
CONTACT: Investors: Keith Morlock 801 810 9888 invest@SETcorp.us Media: Julie Shepherd Accentuate PR 815 479 1833 Julie@accentuatePR.com Capstone Turbine Corporation Investor and Investment Media Inquiries: 818-407-3628 ir@capstoneturbine.com
