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TheStreet Open House

Capstone Receives Another Follow-On Order From Large Australian Coal Seam Gas Company

CHATSWORTH, Calif., Jan. 23, 2013 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation ( www.capstoneturbine.com ) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it received another follow-on order from a large Australian coal seam gas company. The initial order in July 2008 was for the supply of 110 C30 microturbines, which was later increased to 154 C30's in 2009. The first follow-on order was for 44 C30 microturbines in October 2012. The majority of these units were shipped in November and December 2012. The latest order is for 36 units increasing the total number of units sold to date to 234 C30 microturbines. These orders are part of a periodical supply contract for the life of the project, at least five years, received from Capstone's Australian distributor, Aquatec-Maxcon Pty Ltd.

In Australia, coal seam gas is plentiful. Coal seam gas has been known about ever since the coal mining industry began in Australia in the early 1900s. With advances in technology, it has developed into a key transition fuel, helping to lower Australia's carbon emissions as they move to a lower carbon future. Coal seam gas now makes up a significant proportion of Australia's natural gas supply.

Aquatec-Maxcon is Australia's leading provider of water and wastewater technology and equipment. The C30 microturbines are supplied as integrated packaged systems by Aquatec-Maxcon for use in remote coal seam gas exploration and production wells in the Australian Queensland (QLD) outback.

"Aquatec-Maxcon is proud to support what is quickly becoming the largest C30 fleet in the world," stated Ivan Reolon, Aquatec-Maxcon's National Manager of Sales and Marketing. "This second contract is for an additional supply of possibly hundreds more Capstone C30 microturbines over a five year period. This latest order from this new contract is for 36 C30 microturbines, which are scheduled to be shipped to Aquatec-Maxcon for packaging early this year as the pace of drilling and installations appears to be increasing in QLD, and with the possibility of others adopting Capstone technology in QLD coal seam gas and the coal seam gas market to kick off in New South Wales," added Reolon.

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