"This is another significant order by this major coal seam gas producer, which brings their total fleet up to 234 units providing reliable low emission electricity twenty-four hours a day, seven days a week, in a harsh and remote part of the world," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing.
"Until the global economy strengthens, the oil and gas market will continue to be our fastest growing market and currently accounts for over 60% of product revenue," said Darren Jamison, Capstone's President and Chief Executive Officer. "Capstone continues to see strong repeat business from global oil and gas producers in the U.S., Russia, Asia, Australia, Canada and South America," added Jamison.
Coal seam gas in Australia is used to fuel power stations that generate electricity to supply major industrial customers, homes and businesses. Coal seam gas is forming the basis of a major new
liquefied natural gas (LNG)
export industry that is expected to deliver substantial economic benefits to Australia and create many thousands of jobs.
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 6,500 Capstone Microturbine 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 the advantages of our products, growth of the oil and gas market and increased opportunities in the Australian coal seam gas industry. 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.