Capstone Secures Several Energy Efficiency Projects in Mexico, a Growing CHP Market
VAN NUYS, Calif., Oct. 01, 2018 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation () (Nasdaq: CPST), the world’s leading clean technology manufacturer of microturbine energy systems, announced today that it received orders for three C1000 Signature Series and two C30 microturbines for CHP/CCHP projects for multiple industrial facilities in Mexico. DTC Ecoenergía, Capstone’s distributor in Mexico, secured all five projects.
As a country, Mexico needed more energy security while decreasing the high price of electricity that was expensive to the public and dragged the competitiveness of the country down. The only way to do that was to create a competitive retail and wholesale market, but that required massive changes in the legislation. As a result, Mexico transitioned its state-run energy sector into a market that is open to competition. Their goal is to make clean energy 38.2% of its total power generation by 2031 from the current 20%.
Along with low-emissions, the C1000s and C30s feature low noise levels, low maintenance costs, a low carbon footprint and industry-leading reliability and resiliency.
Darren Jamison, President and Chief Executive Officer of Capstone, said, “Mexico has become one of our largest international markets over the last couple of years and continues to provide strong growth opportunities, specifically in the industrial CHP/CCHP market vertical.”
“Improving our geographic diversification is a key strategic initiative, and our efforts are resulting in significant new bookings from areas that include Mexico and the rest of Latin America, as well as areas such as Africa, Australia and the Middle East. Concurrently, the CHP energy efficiency market vertical continues to grow and was our largest vertical last year,” added Mr. Jamison.
“The market environment for cogeneration makes it an ideal solution for the Mexican industrial sector,” commented Alejandro Muñoz, President of DTC Ecoenergía. “The clean and green microturbines will provide on-site combined heat and power (CHP) that is far more efficient and environmentally beneficial than utility power,” added Mr. Muñoz.
As of 2014, independent generators, or Productores Independientes de Energía, held about 12.9 GW of generation capacity in Mexico, consisting mostly of combined-cycle, natural gas-fired turbines, according to the U.S. Energy Information Administration (EIA).
“Electricity use and peak demand are growing, privately owned behind-the-meter distributed generation is playing a much larger role in Mexico’s electricity supply. There are several known sectors with unfulfilled cogeneration potential,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone.
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 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.
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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 “believes,” “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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