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Capstone Turbine Corporation (NASDAQ: CPST) announced that its exclusive Australian distributor, Optimal Group Australia, has secured a 1 MW 10-Year Factory Protection Plan (FPP) service contract with Santos Limited, a leading oil and gas producer in Australia. This project involves a microturbine system that reduces Santos' natural gas usage and carbon emissions by half. Optimal now manages a 13 MW fleet under Capstone's FPP, enhancing its position in the Asia Pacific market. The FPP guarantees fixed maintenance costs, protecting customers from future price fluctuations.
Capstone Turbine Corporation (NASDAQ: CPST) announced its participation in the 13th Annual LD Micro Main Event Conference, scheduled for December 14, 2020, at 1:20 pm ET. President & CEO Darren Jamison will present updates on business developments, including efforts to improve Adjusted EBITDA by $10 million year-over-year amid pandemic challenges and enhancements in hydrogen product development. Investors can register for the event through the company's website. The unique conference format includes 10 minutes of presentation followed by Q&A.
Capstone Turbine Corporation (NASDAQ:CPST) has announced an order for an 800 kW Signature Series microturbine from Costa Group, Australia’s top grower and marketer of fresh produce. This unit will enhance energy efficiency at Costa's tomato glasshouse facility, expected to be operational by June 2021. Capstone's technology will provide an environmentally friendly energy solution, supporting the company's ongoing shift towards green energy, which now constitutes 62% of its total business. The microturbine's modular design allows future capacity expansion to 1 MW.
Capstone Turbine Corporation (NASDAQ: CPST) has secured a follow-on order for two 2-MW C1000 Signature Series microturbines from Ecopetrol, Colombia's largest petroleum company, for installation in the Yaguara Oil Field. This comes after successful operations of a previous unit. The microturbines will help Ecopetrol meet its goal of reducing emissions by 20% by 2030, aligning with the World Bank's Zero Routine Flaring initiative. Capstone's technology offers reliability and efficiency, utilizing minimally processed flare gas while reducing operational costs and environmental impact.
Capstone Turbine Corporation (NASDAQ:CPST) announced two Factory Protection Plan (FPP) renewals for food processing plants in Italy. The renewals support the region's recovering economy, vital for exports across Europe. Despite the COVID-19 pandemic, Capstone's global FPP renewal rate remains consistent at around 80%. The company reported a positive adjusted EBITDA in the June quarter and positive cash flow from operations in the September quarter. Capstone's FPP covers 57% of qualified fielded systems, demonstrating resilience amidst challenging market conditions.
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.
Capstone Turbine Corporation (NASDAQ: CPST) will present at the Sidoti & Company Virtual Microcap Conference on November 19, 2020, at 4:00 PM ET. CEO Darren Jamison will discuss the company’s strategy to improve Adjusted EBITDA by $10 million year-over-year despite the pandemic's challenges. Key topics include a recent $50 million term note refinancing with Goldman Sachs and a shift to an Energy as a Service (EaaS) model, enhancing recurring revenue streams. The presentation will cover new hydrogen product developments as part of the #ShiftToGreen initiative.
Capstone Turbine Corporation (NASDAQ: CPST) reported notable financial improvements for its fiscal 2021 second quarter ended September 30, 2020. The company achieved $1.9 million in positive cash from operating activities, a quarter-over-quarter increase of $3.7 million and a year-over-year increase of $8.2 million. Gross product orders totaled $9.8 million, reflecting a book-to-bill ratio of 1.4:1. Total revenue rose to $14.9 million, up 5% compared to the prior quarter but down $5.8 million year-over-year. Capstone continues to focus on improving Adjusted EBITDA by $10 million year-over-year.
Capstone Turbine Corporation (NASDAQ:CPST) will host a live webcast on November 10, 2020, at 1:45 PM PT to discuss its Q2 fiscal year 2021 results, which ended on September 30, 2020. The company will provide updates on financial performance and business activities, followed by a Q&A session for analysts. Capstone is a leader in microturbine energy systems, servicing diverse markets globally. Interested individuals can access the webcast through the company’s investor relations webpage, with a replay available for 30 days.
Capstone Turbine Corporation (NASDAQ:CPST) announced the acquisition of nine C65 microturbines for clients in the battery and automotive paint industries in Germany, marking its 32nd order in six months. Despite global COVID-19 challenges, Capstone reported positive cash flow from operations in the last quarter. The installations will enhance energy efficiency and reduce CO2 emissions at the respective facilities. Capstone's distributor E-quad Power Systems has significantly boosted its sales performance, becoming the third-largest distributor in the past year.
