Capstone Turbine (CPST) Receives Two Clean Energy Project Awards

November 25, 2009 8:34 AM EST

Capstone Turbine Corporation (Nasdaq: CPST) received notice of grant awards by the U.S. Department of Energy (DOE) and Israel's Binational Industrial Research and Development (BIRD) Foundation to participate in two separate clean energy product development projects valued in excess of $3 million.

The grant award from the U.S. Department of Energy is to develop a more fuel flexible microturbine capable of operating on a wider variety of biofuels -- mostly from biomass feedstock (agricultural crop waste), which when gasified becomes synthesis gas or syngas. Syngas has been identified by many offices of the DOE as a new "opportunity fuel" for future clean energy projects.

The two year project will total almost $3.8 million, with the DOE supporting the project with $2.5 million which includes the support of Argonne National Laboratory. Capstone is the prime contractor for this project and will rely on support from Argonne National Laboratory, University of California at Irvine, and Packer Engineering, Inc.

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