U.S Embassy Hosts Capstone Turbine Event for Forty-Five Leading Argentinian
Oil and Gas Executives
BUENOS AIRES, Argentina, Nov. 30, 2012 (GLOBE NEWSWIRE) -- With Argentina's
energy demandincreasing whileoil and gas production ison the decline
despite significant shale gas resources,the U.S.Embassy in Argentina
hosted45leading Argentinian oil and gas executives on Monday, November 26 at
the Ambassador's official residencetolearn how reliablelow emission
Capstone microturbines can help the country address its ongoing energyissues.
In attendance were decision makers from such influential companies
asTotal,YPF,Argentina's nationaloil company; Petrobras, a world-leading
offshore oil and gas company; and Apache Corp., a global independent oil and
gas exploration and production company.Capstone's oil and gas distributor for
Argentina,TurbomaquinariasSA, has been working with companies like these to
analyze projects at their oil and gas installations over the past year.
"The energy executives we met with during the event are extremely interested
in how themicroturbines'unique design allows for better reliability and
reduced need for maintenance compared to traditional power generation
technologies," said Justin Rathke, Capstone's Vice President of Sales for the
Americas, Africa and Middle East.
In additionto traditional oil and gas reserves, Argentina has the world's
third most shale gas resources – a market segment the leading Argentinian oil
and gas producersare eager tobegin todevelop.
"In some of the world's most productiveshale plays, Capstone microturbines
already have proven themselves as highly reliable low emission power systems,"
said JimCrouse,Capstone's Executive Vice President of Sales and
Marketing."More than 60 percent ofourrevenues today come from oiland
gascompanies, many with wellhead and transmissionsitesin multiple
The U.S. Department of Commerce's International Trade Administrationand
Capstonecoordinated the high level eventat the Ambassador's
residence.Capstone hasworked closelywith the Commerce Departmentover the
years, having participated trade missions to Asia, Africa and the Middle
Eastand receiving the Presidential E Award for Exporting fromthenCommerce
Secretary Gary Locke in 2009.
Over 250 Capstonemicroturbinesare operating throughout Latin America,
including Mexico, Argentina, Brazil, Colombia, Bolivia, Chile, and Peru. The
majority of installations are associated with the oil and gas industry, which
is Capstone's fastest growing market sector worldwide.
"This is a pivotal time in Argentina as the country and its business leaders
shape their future energyeconomy," Crouse added. Crousecited a January 2012
Ernst & Young report titled, "Renewable Energy Recap: Argentina"that
forecasts annual energy demand increases of 6 percentin the country. The
report stated, "Estimates indicate that an additional 1gigawattof new
generation capacity per annum will be necessary to satisfythis growing
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (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(R) 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.
The Capstone Turbine Corporation logo is available at
This press release contains "forward-looking statements," as that term is used
in the federal securities laws, about the reliability and low emissions of our
products, the performance of our products in crisis situations, reduced costs
and increased sales of our products.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.
"Capstone" and "Capstone MicroTurbine" are registered trademarks of Capstone
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CONTACT: Capstone Turbine Corporation
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