Capstone Turbine Begins Commercial Production of Recuperators; Automated Production of Core Component to Reduce Costs.Business Editors & Energy Writers CHATSWORTH, Calif.--(BUSINESS WIRE)--June 14, 2001 Capstone Turbine Capstone Turbine Corporation NASDAQ: CPST, incorporated in 1988, is a California based gas turbine manufacturer that specializes in microturbine power and heat cogeneration systems. Capstone has sold and shipped more than 3,000 of these one-moving-part systems worldwide. Corporation (www.microturbine.com) (Nasdaq:CPST CPST Cable Programming Services Tier CPST Commission on Professionals in Science and Technology CPST Community Psychiatric Supportive Treatment (Ohio) CPST Child Passenger Safety Technician CPST Classical Perturbation Scattering Theory ) today announced it has begun producing commercial quantities of recuperator Re`cu´per`a`tor n. 1. (Steel Manuf.) Same as Regenerator. cores at its nearby Van Nuys plant. A recuperator is a device that extracts heat energy from the exhaust of a combustion combustion, rapid chemical reaction of two or more substances with a characteristic liberation of heat and light; it is commonly called burning. The burning of a fuel (e.g., wood, coal, oil, or natural gas) in air is a familiar example of combustion. system to preheat pre·heat tr.v. pre·heat·ed, pre·heat·ing, pre·heats To heat (an oven, for example) beforehand. pre·heat  er n. intake air, which increases
energy efficiency. In Capstone's case, the recuperator surrounds
the microturbine engine and effectively doubles its efficiency. Solar
Turbines (www.solarturbines.com) has been the sole source of
recuperators to Capstone up to this time.Solar and Capstone worked cooperatively for several years to develop advanced automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. manufacturing techniques for the jointly designed product. Last September, Capstone announced a licensing agreement to manufacture the recuperator. "Our experience with the Solar-manufactured recuperator has been excellent. We have sold and shipped well over 1,000 Capstone MicroTurbines and have had no field failures of recuperators. This led us to the next logical step of investing in the equipment and resources to manufacture them ourselves," said Dr. Ake Almgren, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Capstone Turbine. "Our goals were to eliminate sole-source dependence, control production volumes and reduce costs. The recuperator has been among the most costly components of the Capstone MicroTurbine," Almgren said. "In this world's-first automated recuperator core production process, we hope to achieve a goal of cutting labor time in half and realizing other cost savings. "This is a strategic move for Capstone, eliminating what could have been availability restrictions. Taking the recuperator core production process technology to this new level is a crucial factor in volume manufacturing of microturbines, because if you can't mass produce recuperators, you can't mass produce microturbines," Almgren said. Originally intended to go online in the third quarter of 2001, Capstone announced in their first quarter 2001 earnings report the acceleration of the company's recuperator core-manufacturing program from September to June of 2001. Capstone has an inventory of Solar-produced recuperators to help ensure uninterrupted microturbine system production. "There are still some manufacturing refinements and enhancements to achieve, but we are ahead of schedule and seeing very positive results," Almgren said. About Capstone Turbine Capstone Turbine Corporation (www.microturbine.com) (Nasdaq:CPST) -- winner of Financial Times Energy's (www.ftenergy.com) 2000 Global Energy Award for Most Innovative Commercial Technology -- is a leading producer of low-emission microturbine systems. In 1998, Capstone was the first to offer commercial power products utilizing microturbine technology, the result of more than ten years of focused research. Worldwide, more than 1,000 commercial production Capstone MicroTurbine systems serve, among others, the following applications: -- Hybrid electric vehicles (HEVs): onboard generation -- Resource recovery: converting oilfield, landfill and sewage waste gases into electricity -- Micro-cogeneration: combined heat/power/chilling solutions -- The 9s market: power quality and reliability This news release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ," as that term is used in the federal securities laws, about Capstone's business, including statements regarding yet-to-be-achieved manufacturing refinements, volume manufacturing, anticipated cost reductions, and other such statements. You can find many of these statements by looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. words such as "believes," "expects," "hopes," "anticipates," "estimates," or similar expressions. These forward-looking statements are subject to numerous assumptions, risks and uncertainties that may cause Capstone's actual results to be materially different from any future results expressed or implied in such statements. These risks and uncertainties, such as inability to manufacture recuperator cores internally, may reduce the number of microturbines Capstone can produce, include those risks, uncertainties, marketplace competitors and risk factors identified, among other places, under "Business Risks" in Capstone's Annual Report (www.corporate-ir.net/ireye/ir_site.zhtml?ticker ticker An automated quotation system on which security transactions are reported after they occur on an exchange floor. Even though the newer systems are electronic and no longer actually tick, the name of the old mechanical device has stuck. =cpst&script=2100) on form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 2000. Capstone cautions readers not to place undue reliance on these statements, which speak only as of the date of this release. Capstone undertakes no obligation to release any revisions to such statements to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date of this release or to reflect the occurrence of unanticipated events. Note: Photos related to this announcement are at: http://www.microturbine.com/whatsnew/morePhotos.asp?newsid=117 Note: Information on the Solar Turbine turbine, rotary engine that uses a continuous stream of fluid (gas or liquid) to turn a shaft that can drive machinery. A water, or hydraulic, turbine is used to drive electric generators in hydroelectric power stations. licensing agreement noted above is at: www.microturbine.com/whatsnew/pressrelease.asp?article=44 Note: First quarter 2001 earnings report noted above is at: www.microturbine.com/whatsnew/pressrelease.asp?article=73 Note: Information on Capstone's FT Energy Award noted above is at: www.microturbine.com/whatsnew/pressrelease.asp?article=54 Note: Annual report is at: www.corporate-ir.net/ireye/ir_site.zhtml?ticker=cpst&script=2100 |
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