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Capstone Receives Major Order For Global Real Estate Development And Investment Firm

Stocks in this article: CPST

CHATSWORTH, Calif., May 28, 2013 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation ( www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean-technology manufacturer of microturbine energy systems, today announced it received a major order for one of the most prominent privately held real estate and investment firms in the United States. Capstone distributor RSP Systems, headquartered in Bronx, NY, secured the significant order.

The order for multiple buildings is from New York based Related Companies, a highly regarded entrepreneurial innovator and industry leader in environmentally conscious real estate development.

The company's initial order includes multiple Capstone C65 and C200 Dual Mode microturbines that are expected to be installed over the next two years in several of its new best-in-class office buildings, apartments, and mixed-use properties. Some of the sites will feature combined heat and power (CHP) applications; others will operate in combined cooling, heating, and power (CCHP) applications.

A strong advocate of cogeneration and green building worldwide, Related Companies is deeply committed to sustainable building design with over $10 billion in green development underway or completed. The firm secured the Capstone microturbines for several new developments throughout the New York City area. The low-emission Capstone microturbines will displace utility power and also provide heat, domestic hot water, chilled water, and back-up power, depending on the site.

The Capstone microturbines will be installed in a variety of Related's new construction projects, including several of the buildings at Hudson Yards, the largest private mixed-use development ever undertaken in New York City being developed by Related Companies and Oxford Properties Group. The natural gas Capstone C200 microturbines will provide 1.2 MW of primary trigeneration power and backup capabilities at the first commercial tower at Hudson Yards. In addition, C65 turbines will be deployed at Hunters Point South Parcels A and B, the first two buildings of New York City's ambitious 5,000 unit development of affordable and workforce housing on the waterfront in Long Island City, Queens.

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