Capstone Turbine (NASDAQ:CPST) Secures Follow-On Order From Major Oil & Gas Producer in India
March 04, 2021 at 08:00 AM EST
Microturbines to be Deployed at a Gathering Station in India for Flare Recovery Project
VAN NUYS, CA / ACCESSWIRE / March 4, 2021 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading manufacturer of clean technology microturbine energy systems, announced today that it received a follow-on order for Oil and Natural Gas Corporation (ONGC), India's renowned multi-national oil and gas company, for one C200 Signature Series and two C65 microturbines. Brio Energy Pvt. Ltd., Capstone's exclusive distributor in India (www.brioenergy.in), secured the order, which is expected to be commissioned in May 2021.
Capstone continues its growth in the South Asian oil and gas market with its recent follow-on order from ONGC. The microturbines, destined for a remote gathering station in western India, will provide primary power to the facility while simultaneously reducing the flaring of associated gas which negatively impacts the environment. Utilizing the flare gas that would otherwise be wasted reduces the company's overall operational costs. In addition, it helps the environment by eliminating the need to import power from the local utility, reducing their overall carbon footprint.
"Gas flaring is a global issue, but it's much more acute in areas with limited infrastructure and often has devastating negative impacts on local communities. Beyond the obvious noise and light issues, flaring emits black carbon, methane, and volatile organic compounds, all of which are dangerous air pollutants," said Darren Jamison, President and Chief Executive Officer of Capstone Turbine. "It's tremendous to see a world-renowned oil and gas company like India's ONGC continue to utilize Capstone's green energy products to limit the environmental impacts associated with flare gas in India," added Mr. Jamison.
Officials at ONGC have really appreciated the vast benefits of Capstone's microturbine technology with their initial order. Capstone microturbines are able to use flare gas as an input fuel source without any gas pre-treatment. This allowed the customer to monetize the associated gas while simultaneously keeping operational costs low by not needing extra fuel-cleaning equipment.
"Our aim is to provide next-generation energy solutions to industries that match today's distributed generation needs," said Shubham Mishra, Principal at Brio Energy. "Through the use of Capstone's microturbine energy systems, we can advance clean and reliable energy solutions across the country and achieve carbon neutrality," added Mr. Mishra.
Capstone microturbines are recognized in the oil and gas industry for their strong performance and reliability. Along with their rugged reputation, microturbines allow oil and gas operators to meet flare gas reduction objectives. By utilizing on-site natural gas, oil and gas producers have the potential to reduce harmful emissions and also lower their operating expenses.
About Capstone Turbine Corporation
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: firstname.lastname@example.org. To date, Capstone has shipped nearly 10,000 units to 83 countries and in FY20, saved customers an estimated $219 million in annual energy costs and 368,000 tons of carbon.
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SOURCE: Capstone Turbine Corporation
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