Capstone Turbine Announces That in Fiscal Year 2021, it Estimates it Saved End-Use Customers Over $217 Million in Energy Costs and Approximately 397,000 Tons of Carbon
April 20, 2021 at 08:00 AM EDT
Special Company Announcement Is Planned in Celebration of Earth Day, April 22, 2021
VAN NUYS, CA / ACCESSWIRE / April 20, 2021 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) ("Capstone" or the "Company"), the world's leading manufacturer of clean technology, microturbine energy systems, announced today that in Fiscal 2021, which was the 12 months ending March 31, 2021, the Company estimates it saved its end-use customers over $217 million in annual energy costs and helped them reduce carbon emissions by approximately 397,000 tons.
Over its 20-year history, Capstone has shipped over 10,000 units to 83 countries. A single Capstone-powered combined heat and power (CHP) system can provide customers with an estimated 40% in annual energy savings while simultaneously, meaningfully lowering their carbon footprint. In the last three years alone, the Company has provided customers with an estimated total savings of $698 million in annual energy costs and carbon reductions of approximately 1,115,100 tons.
Not only is Capstone committed to saving customers money and helping them achieve their carbon reduction goals through dramatically improved energy efficiency, the microturbine technology provides much needed energy resiliency. As the world faces the effects of climate change, this will be an important benefit for companies and communities moving forward.
"The need to shift to greener energy solutions has never been more evident than it is today. In fact, there is a strong argument to be made for a global green recovery from the COVID-19 pandemic," said Darren Jamison, President and Chief Executive Officer of Capstone Turbine. "In the true spirit of Earth Day 2021, we are proud to do our part by providing energy saving products and services that not only help customers save money, they help to save the planet."
Mr. Jamison continued, "We have only scratched the surface of meeting the efficient energy needs of customers worldwide. In fact, we will soon be announcing Company changes on Earth Day, April 22, 2021, that reflect our continued business evolution, including development efforts that we are undertaking to become a highly trusted energy partner to our valued end-use customers."
"I believe businesses will increasingly look at improving their operations from an environmental, social and governance (ESG) perspective so that they become more socially conscious, especially as investors and customers are beginning to screen companies for their stance on these issues before potentially investing or making product buying decisions," added Mr. Jamison.
Kirk Petty, Capstone's Vice President of Manufacturing, said, "At Capstone, the products and services we produce enable our end-use customers to reduce their carbon footprint via lower air emissions, all while lowering their overall operational costs. In our product design, sourcing, manufacturing and aftermarket processes, we apply the same guiding principles. We focus on reducing our own environmental footprint through waste reduction efforts, recycling and refurbishment (remanufacturing) efforts, lean manufacturing techniques, and reducing energy consumption in our key production processes. We are continually monitoring and looking at ways to innovate and improve our overall carbon footprint."
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 over 10,000 units to 83 countries and in FY20, saved customers an estimated $219 million in annual energy costs and approximately 368,000 tons of carbon.
Cautionary Note Regarding Forward-Looking Statements
"Capstone" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
SOURCE: Capstone Turbine Corporation
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