Capstone Turbine (NASDAQ:CPST) Expands Footprint in Middle East Market With LPG-Fueled C400S for Aluminum Smelting Facility
March 31, 2021 at 08:00 AM EDT
The Order Marks the 1st Industrial Microturbine Installation in Saudi Arabia
VAN NUYS, CA / ACCESSWIRE / March 31, 2021 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it has received an order from Radian Oil and Gas Services, an engineering services company, for a low emission Capstone C400 Signature Series microturbine system (C400S) to be installed at an aluminum smelting operation in Saudi Arabia, owned and operated by Ma'aden Aluminum. The order was secured by Capstone's internal solution sales team and is expected to be commissioned in June 2021.
According to the US Energy Information Administration (EIA), the Saudi Government has launched a countrywide initiative to diversify the economy and create jobs. The Saudi Vision 2030 places great importance on social and environmental goals. As a result, there is increasing national regulatory focus on the environmental performance of businesses, health and safety of communities, and growing commitment to corporate social responsibility.
"This win is a direct result of our strategic Revenue Growth Strategy, which is a six-element initiative designed to drive increased top-line annual revenue," said Darren Jamison, President and Chief Executive Officer. "The Capstone internal solution sales team is one of the six elements of our revenue growth strategy, which also includes expanding our business in new geographies like the Middle East, Eastern Europe and Africa," added Mr. Jamison.
The stand-alone microturbine is expected to power all-electric equipment at a remote operation near the border of Saudi Arabia and Kuwait while running on locally available liquefied petroleum gas (LPG). The microturbine solution is scheduled to be installed in a prime power application delivering reliable power for a temporary facility. The C400S will be supplied in a 3-bay enclosure and allow the customer to increase generation capacity in 200 kW increments up to 600 kW. The microturbine's inherent redundancy will enable it to operate part of the system when powering a partial load or when being serviced.
"The order marks the first industrial microturbine installation in the Kingdom of Saudi Arabia and holds the potential for additional projects with Ma'aden Aluminum at nearby sites," said Jim Crouse, Chief Revenue Officer of Capstone Turbine. "This marks a big milestone for Capstone, as we currently have oil and gas related installations in Qatar, Oman, Kuwait, Iraq, and now a foothold into the very important and growing middle east industrial market," added Mr. Crouse.
Capstone's innovative microturbine technology was selected for its low emissions profile, availability, low maintenance intervals, and reliable power generation capabilities in some of the harshest and remote applications in the world.
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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