Capstone Turbine (NASDAQ:CPST) New York Distribution Partners’ Customers Power Through Tropical Storm Isaias
Capstone Turbine Corporation announced that its microturbine systems successfully operated during Tropical Storm Isaias, which caused extensive power outages in the New York tri-state area. With nearly 2.5 million people affected, Capstone’s systems provided emergency back-up power to critical sites, showcasing their reliability. Customers reported satisfaction with the performance during the storm, reaffirming the company's commitment to delivering low-emission and resilient energy solutions. Capstone has shipped nearly 10,000 units globally, saving customers approximately $219 million in energy costs this fiscal year.
- Microturbine systems provided seamless back-up power during Tropical Storm Isaias.
- High customer satisfaction reported regarding performance and reliability.
- Capstone delivered significant energy cost savings, estimated at $219 million in FY20.
- None.
Only Superstorm Sandy Caused More Power Outages Than Tropical Storm Isaias, With Nearly 2.5 Million People Losing Power in the Region
VAN NUYS, CA / ACCESSWIRE / August 11, 2020 / Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that its New York tri-state area microturbine systems designed for stand-alone operation continued to operate during and after Tropical Storm Isaias slammed into the area last week.
The Tropical Storm descended on the tri-state area with a vengeance last Tuesday, thrashing the region with tree-toppling winds, torrential rain, and even a few tornadoes as it continued its deadly march up the eastern U.S. seaboard. Only Superstorm Sandy caused more outages than Tropical Storm Isaias, and days later 700,000 customers were still without power. The fast-moving storm dealt such a wallop that area governors had to put into place emergency orders to speed up the recovery.
"It's been a busy week, but today we can confirm that the storm caused grid outages for at least seven RSP Systems customers with microturbine systems designed to run in stand-alone mode thus providing emergency back-up power to critical site loads," said Cory Glick, President of Reliable Secure Power Systems (RSP Systems), Capstone's distributor for New York, Connecticut, and Ohio. "All of the impacted Capstone sites immediately transitioned to back-up power mode just as they were designed to do," added Mr. Glick.
Dave Bell, the Maintenance Manager from East Hartford High School in Connecticut commented, "The Capstone microturbine system performed precisely as designed, providing seamless back-up power for egress lighting and critical plug loads." Eric Sanders from Pomfret School, also in Connecticut, was extremely pleased with the performance of his Capstone installation commenting, "The microturbine system did what it was supposed to do and man do these little units just run and run."
Governor Andrew Cuomo declared a State of Emergency for downstate New York to enable the state to provide additional levels of support to local governments throughout the clean-up and recovery process.
"It has been almost a decade since Superstorm Sandy and three years since Irene, but nature continues to remind us of our dependency on the power grid," said Darren Jamison, Capstone President and Chief Executive Officer. "Users around the world continue to adopt Capstone microturbines as they want the peace of mind in having the high reliability and low emission benefits of our distributed generation products. However, it's unfortunate that in many cases, it takes a major event like this to get people to start thinking differently about how to reliably deliver their energy needs and change traditional utility buying habits," 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, via our direct sales team, as well as our global distribution network. Capstone provides scalable solutions from 30 kWs to 10 MWs that operate on a variety of fuels and are the ideal solution for today's multi-technology distributed power generation projects.
For customers with limited capital or short-term needs, Capstone offers rental systems, for more information, contact: rentals@capstoneturbine.com. To date, Capstone has shipped nearly 10,000 units to 83 countries and in FY20, saved customers an estimated
For more information about the company, please visit www.capstoneturbine.com. Follow Capstone Turbine on Twitter, LinkedIn, Instagram, Facebook and YouTube.
Forward-Looking Statements
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.
"Capstone" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.
CONTACT:
Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com
Integra Investor Relations
Shawn M. Severson
415-226-7747
cpst@integra-ir.com
SOURCE: Capstone Turbine Corporation
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FAQ
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