Capstone Receives Orders for $2.9 Million From German Distributor E-Quad Power
CHATSWORTH, Calif., Jan. 28, 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 new orders in January from its German distributor E-Quad Power
Systems GmbH. The orders include two C1000 packages, one C200, 14 C65s and
four C30s, totaling approximately $2.9 million in product expected to ship in
the next six months.
In November Bloomberg's Business Week declared it official that Europe was in
a double-dip recession. Bloomberg reported that the 17-country euro zone has
fallen into its second recession since 2008, as figures released on November
15th showed gross domestic product declining 0.1 percent during the third
quarter. That followed a 0.2 percent contraction during the previous three
months, according to the European Union's statistics office.
Bloomberg also reported there were some unexpected bright spots. Germany and
France posted 0.2 percent quarter-on-quarter growth, ahead of expectations.
Even some of the region's most troubled economies suffered relatively modest
contractions, including 0.3 percent in Spain and 0.2 percent in Italy.
"The January orders from our German distributor E-Quad are almost equal to the
total amount E-Quad purchased from Capstone in the previous nine months and
are consistent with reports that the German market is starting to rebound,"
said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing.
"Despite the slowdown in the European market, Capstone has posted higher
year-over-year quarterly revenues for 23 consecutive quarters. A rebound in
Germany and France would definitely ease some of the overall headwinds we have
experienced in Europe," said Darren Jamison, Capstone's President and Chief
Executive Officer. "Continental Europe has always been an important part of
our business and represented 18% of total revenue last year.We look forward
to seeing all of our European partners rebound," added Jamison.
Capstone's German distributor, E-Quad Power Systems GmbH, provides project
planning, installation supervision, start-up and maintenance of Capstone
products. E-Quad is focused on oil & gas resource recovery, turbo electric and
combined heat and power applications. E-Quad is headquartered in Herzogenrath,
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 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 increased sales for our German
distributor and improved conditions in Europe. 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
Turbine Corporation. All other trademarks mentioned are the property of their
CONTACT: Capstone Turbine Corporation
Investor and investment media inquiries:
Press spacebar to pause and continue. Press esc to stop.