Capstone Turbine (CPST) Receives Order for C600 Signature Series Microturbine

August 8, 2016 8:34 AM EDT

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Capstone Turbine Corporation (Nasdaq: CPST) announced today that it received an order for a C600 Signature Series microturbine for a microgrid project in Beijing, China.

Capstone’s distributor, Beijing Haohai Power, secured the order, which is expected to be commissioned in October 2016. The repeat end-use customer chose Capstone again after successfully commissioning a microturbine-based combined cooling, heat and power (CCHP) plant at a separate facility. Capstone microturbines were selected again based on their superior performance, their proven inverter-based electrical output, and their ability to integrate easily with other localized distributed generation technologies in a smart grid capacity.

“The interest in microgrids worldwide is expanding,” said Darren Jamison, President and Chief Executive Officer at Capstone. “Reports differ somewhat but most estimates today put the overall value of the market for microgrids and remote power systems in the several billion dollar range with forecasts to rise nearly twentyfold over the next decade,” added Mr. Jamison.

Capstone commissioned its first microgrid-based propane-fueled C65 turbine in Texas for Oncor Electric Deliver Company back in December 2014. That microgrid consisted of nine different distributed generation resources, including two solar photovoltaic (PV) arrays, two energy storage devices and four traditional generators.

The new Chinese microgrid project will be anchored by a natural gas-fueled C600S microturbine that will be installed in a CCHP application for a multi-energy complementary smart microgrid. The microturbine will operate in parallel with wind, solar and energy storage systems onsite to provide maximum environmental benefit and optimal return on investment. This will be the first Capstone Signature Series installed and commissioned in China.

“Capstone is further aligning its business strategy to meet the demand and growth of the microgrid industry worldwide,” said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone. “Capstone microturbines pair well with other power generation technologies and help to ensure the security and stability of power to our customers, as our microturbines offer low emissions and firm base load power,” added Mr. Crouse.

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