CHATSWORTH, Calif., Sept. 1, 2010 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation () (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, has received an order for a C1000 Power Package from an independent oil and natural gas company exploring in the Piceance Basin in the United States.
Capstone distributor Pumps & Service secured the order, which is the third in nine weeks from an oil-and-gas developer in the U.S. The oil and gas market is expected to grow substantially, especially since the U.S. Environmental Protection Agency's (EPA) Clean Air Act has strict requirements for emissions levels at natural gas sites.
When commissioned in the coming months, the C1000 low-emission turbine will provide one megawatt of prime power to an unmanned natural gas compressor station along a pipeline in remote Northwestern Colorado. The microturbine will operate on natural gas pumping through the pipeline, so no outside fuel will be shipped to the site. Electricity produced by the microturbine will provide all power to the onsite equipment, including heaters, pump motors, circulation pump, distribution panels, and more.
In 2007, the Piceance Basin contained five of the top 50 U.S. gas fields in terms of proven resources. Experts today estimate the basin contains trillions of cubic feet of natural gas.
"This is a large natural-gas compressor site in an extremely remote, unmanned location that requires one megawatt of reliable power," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "Oil and gas producers must install low-emission primary power sources at well sites and along pipelines, which makes Capstone microturbines an ideal power solution."
"Every developer we talk to wants highly reliable power from a low-emission source. Fortunately, Capstone microturbines provide both," said Bryan Hensley, Vice President of Sales and Marketing, Pumps & Service.
In the past nine weeks, Pumps & Service received orders for 18 C65 microturbines and a C600 turbine from prominent oil-and-gas developers drilling in the Marcellus Shale Play that spans West Virginia and Pennsylvania, and the Eagleford Shale Play in South Texas.
About Capstone Turbine Corporation
Capstone Turbine Corporation () (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 5,000 Capstone MicroTurbine(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.
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This press release contains "forward-looking statements," as that term is used in the federal securities laws, about growth and opportunities in the oil and gas sector and the suitability of Capstone's products for that sector. 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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