Capstone Turbine (NASDAQ:CPST) Secures Order From Major Oil & Gas Producer for Offshore Drilling and Wellhead Platform
Capstone Turbine Corporation (NASDAQ:CPST) has announced orders for four ATEX-certified microturbines from a global oil and gas producer in Sarawak, Malaysia. The order includes two C200S and two C65 microturbines, set for commissioning in October 2021. These new systems will replace outdated TA100 units, enhancing power capacity on unmanned platforms. The installation promises improved energy resiliency and reduced maintenance, leveraging raw associated gas for operation. Capstone's technologies are well-regarded in offshore applications for their reliability and low emissions.
- Secured orders for four ATEX-certified microturbines, enhancing Capstone's market position.
- New systems will replace obsolete generators, potentially improving operational efficiency.
- Microturbines utilize raw gas, ensuring reliable power generation.
- Technology is recognized for low emissions and high reliability in offshore conditions.
- None.
ATEX Certified Microturbines Will Provide Prime Power for Two Unmanned Offshore Platforms for a Global Oil & Gas Producer in Sarawak, Malaysia
VAN NUYS, CA / ACCESSWIRE / November 19, 2020 / 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 orders for two ATEX-certified C200S microturbines and two C65 ATEX-certified microturbines to be installed at offshore platforms operated by a global oil and gas company located in Sarawak, Malaysia. Serba Dinamik, Capstone's exclusive distributor in Malaysia, Indonesia and Brunei (www.e-serbadk.com), secured the order for the systems, which are expected to be commissioned in October 2021.
"Capstone continues to be delighted to help oil and gas companies in their pursuit to de-carbonize oil production while simultaneously improving energy resiliency at critical infrastructure locations like offshore oil platforms," said Darren Jamison, President and Chief Executive Officer of Capstone Turbine Corporation. "We have been focused over the last several years on growing our energy efficiency business, and if you look globally, six of our ten largest installed fleets of Capstone microturbines are oil and gas clients that are using microturbines to provide clean and reliable on-site energy in some of the harshest and most remote applications in the world," added Mr. Jamison.
The new ATEX-certified microturbines have been ordered to replace four obsolete TA100 microturbines, currently running as the platforms' main power generator. The new retrofitted C200S systems will allow the operator to increase power demand for an unmanned drilling platform, while the C65 systems will replace TA100s located on a wellhead platform. Often used for oil and gas exploration and production, Capstone's ATEX-certified systems are designed to meet the unique requirements for offshore applications, which includes superior corrosion protection and other optional features.
"The C200S & C65 units purchased from Capstone will be converted to ATEX Zone 2 compliant units with CO2 fire suppression and ATEX Zone 2 controllers as per the customer's standards and specification requirements," said Afandi Abd Hamid, Vice President of Serba Dinamik. "The re-design, re-engineering, packaging, installation, and commissioning work will be done internally within the Serba Dinamik Group of companies," added Mr. Hamid.
The four systems will run on raw associated gas released from the wellhead, providing a highly reliable power source to the entire platform. As a result, the installation will be fully automated and operate remotely. The microturbines do not require oil or lubricants to operate, and they deliver power via state-of-the-art power electronics. This translates into higher equipment availability and longer maintenance intervals, providing a significant performance advantage when compared to traditional reciprocating engines.
"The customer has several other offshore platforms with C65 ATEX Zone 2 units in operation that have continuously demonstrated high reliability and low maintenance, therefore making it an easy decision to reinvest in Capstone's proven technology. The customer is now looking at qualifying Capstone's microturbines into their approved equipment list to be used at their assets globally," stated Mr. Hamid.
Capstone microturbines are ideal for offshore platforms due to their small modular design, less sensitivity to gas quality, and reliability in harsh environments. Capstone microturbines feature patented air bearing technology with only one moving part, making them rugged, reliable, and a perfect solution for the oil and gas industry.
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.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations, beliefs, plans, intentions, and strategies of the Company. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
"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
SOURCE: Capstone Turbine Corporation
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FAQ
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