VAN NUYS, CA / ACCESSWIRE / October 23, 2019 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that BMTec, one of Capstone's EMEA (Europe, Middle East and Africa) Distributors, recently signed a large Factory Protection Plan (FPP) long-term service contract covering 4 megawatts (MW) of Capstone Microturbines, in the energy efficiency market space.
Capstone's European region, which includes Russia, is returning to become a strong source of growth for Capstone as customers continue to look for innovative ways to generate clean, green power. The four C1000's are installed at a shopping center, offsetting high utility prices. This 7-year FPP will provide complete service coverage, including scheduled and unscheduled maintenance.
'Continued awards for energy efficiency long-term service contracts are the bedrock for sustained growth of our profitable aftermarket business model,' said Jeff Foster, Capstone's Senior Vice President of Customer Service and Product Development. 'When coupled with our recent large Oil & Gas FPP service contracts, our newly improved FPP service offering has become the solution of choice for global microturbine customers, enabling predictable lifecycle costs for up to 20 years,' added Mr. Foster.
'I'm proud that Capstone now has 250 MW of our eligible global fleet covered under the innovative Capstone long-term service FPP agreements compared to 256 MW covered under the traditional time and materials approach of our engine based competitors,' stated Darren Jamison, Capstone's President and Chief Executive Officer. 'We anticipate that this ratio will continue to shift in a positive way in the very near future, and expect for the very first time in company history we will have more MW's covered under FPP than not. Reaching this milestone has the capability to provide the company with stable, recurring cash-flow to fund operations moving forward and profitable, predictable revenue streams for many years,' concluded Mr. Jamison.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST) is the world's leading producer of highly efficient, low-emission, resilient microturbine energy systems. Capstone microturbines serve multiple vertical markets worldwide, including natural resources, energy efficiency, renewable energy, critical power supply, transportation and microgrids. Capstone offers a comprehensive product lineup, providing scalable systems focusing on 30 kWs to 10 MWs that operate on a variety of gaseous or liquid fuels and are the ideal solution for today's distributed power generation needs. To date, Capstone has shipped over 9,000 units to 73 countries and have saved customers an estimated $253 million in annual energy costs and 350,000 tons of carbon.
This press release contains 'forward-looking statements,' as that term is used in the federal securities laws. Forward-looking statements may be identified by words such as 'expects,' 'believes,' '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.
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