Capstone Turbine Corporation Enters Joint Distribution Agreement with Meidensha and Sumitomo; Meidensha, Sumitomo Also Make Equity Investment in Capstone.Business Editors/High-Tech Writers WOODLAND HILLS, Calif.--(BUSINESS WIRE)--Feb. 22, 2000 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 today announced that Meidensha Corporation and Sumitomo Corporation Sumitomo Corporation (住友商事, Sumitomo Shōji) TYO: 8053 is a highly built worldwide trading company (Sogo shosha), and is a diversified corporation based in Tokyo, Japan. It is a member company of the Sumitomo Group. , both of Japan, will jointly distribute Capstone's line of microturbine products, and package Capstone products into combined heat and power (CHP CHP Chapter CHP Combined Heat and Power CHP California Highway Patrol CHP Cumhuriyet Halk Partisi (Turkish: Republican People's Party) CHP Chemical Hygiene Plan (OSHA) CHP Community Health Plan ) systems. In addition to selling and servicing Capstone MicroTurbine(TM) products, Sumitomo and Meidensha have made a joint equity investment in the privately-held Capstone Turbine Corporation. Under the agreement, Meidensha will develop stationary applications for the microturbine in Japan and provide systems integration and comprehensive maintenance for its customers, including some of Japan's largest electric utilities. Sumitomo will import the Capstone MicroTurbine and build a nationwide maintenance network through its subsidiaries in Japan. Meidensha and Sumitomo plan to each utilize established marketing channels to sell the Capstone MicroTurbine and microturbine-based systems. They also announced plans to develop a base of new customers nationwide. "Japan needs clean, reliable and efficient on-site power, making the Capstone MicroTurbine a natural fit. The potential of microturbines in Japan -- particularly in combined heat and power applications -- is tremendous," said Toru Nakamura, Senior Managing Director of Meidensha Corporation. "We are so committed to the success of this newly commercialized technology that we felt it also warranted an equity share in Capstone as a corporate investment." "We are pleased to be working closely with Meidensha and Sumitomo to help meet Japan's growing demand for environmentally conscious distributed energy resources," said Ake Almgren, Capstone's 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. . "We also welcome both of these leading companies as Capstone investors and look forward to their contribution to making the microturbine a success." The Ultra-Low-Emissions Capstone MicroTurbine The Capstone MicroTurbine produces 30 kilowatts of power and can operate in either grid-connected or stand-alone modes. It is a clean, compact and reliable power source that can operate on a variety of fuels including natural gas, propane, diesel and kerosene kerosene or kerosine, colorless, thin mineral oil whose density is between 0.75 and 0.85 grams per cubic centimeter. A mixture of hydrocarbons, it is commonly obtained in the fractional distillation of petroleum as the portion boiling off , the latter being a particularly cost-effective fuel in Japan. Capstone MicroTurbine-based CHP systems will achieve 70-80% thermal efficiency In thermodynamics, the thermal efficiency (  ) is a dimensionless performance measure of a thermal device such as an internal combustion engine, a boiler, or a furnace, for example. ,
twice that of the average fossil fuel power plant A fossil fuel power plant is an energy conversion center that burns fossil fuels to produce electricity, designed on a large scale for continuous operation. Basic concepts with a reduction in
CO2 emissions as called for in the 160-nation Kyoto Protocol Kyoto Protocol: see global warming. agreement
on greenhouse gas greenhouse gasn. Any of the atmospheric gases that contribute to the greenhouse effect. greenhouse gas reduction. Nitrogen oxide Noun 1. nitrogen oxide - any of several oxides of nitrogen formed by the action of nitric acid on oxidizable materials; present in car exhausts pollutant - waste matter that contaminates the water or air or soil (NOx) emissions are 1/20th those of other natural gas power generators and 1/100th those of other diesel generators. The Capstone MicroTurbine utilizes patented air bearings and is air cooled. These unique design innovations eliminate the need for liquid lubricants and coolants, greatly reducing maintenance costs and eliminating storage and disposal problems. About Capstone Turbine Corporation Headquartered in Woodland Hills, Calif., Capstone Turbine Corporation is the world's leading manufacturer of compact, lightweight, ultra-low-emission microturbine power systems. Capstone's air-cooled design and patented air bearing technology eliminate the high maintenance costs and downtime of traditional power generators. Capstone MicroTurbines add power capacity, manage power loads, offer highly efficient combined heat-and-power (cogeneration) solutions and provide on-site power in remote locations. They also meet the need for oilfield flare gas reduction and biogas bi·o·gas n. A mixture of methane and carbon dioxide produced by bacterial degradation of organic matter and used as a fuel. biogas Noun gaseous fuel produced by the fermentation of organic waste resource recovery applications. Commercial units began shipping in December 1998. Capstone is also the first to manufacture microturbines for hybrid-electric vehicles (HEVs). Capstone MicroTurbine-powered HEVs have the environmental benefits of all-electric vehicles, plus significantly increased operating range, robust acceleration, reduced maintenance requirements, and more power for increased ridership and creature comforts like air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. and heating. For additional information, please visit the company's website at www.capstoneturbine.com. About Meidensha Corporation Established in 1897 and headquartered in Tokyo, Meidensha Corporation is a leading heavy electrical manufacturer in Japan. Meidensha is also a leading solutions provider and integrator of combined heat and power (CHP) systems in Japan Fiscal 1999 net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight were approximately $1.8 billion. Its President and Chief Executive Officer is Mr. Shigeo Seko. For details, visit: www.meidensha.co.jp. About Sumitomo Corporation Founded in 1919 and with head offices in Tokyo and Osaka, Sumitomo Corporation has grown over the years to become one of the leading Japanese trading companies. Sumitomo's fiscal 1999 net sales were approximately $94 billion. It has about 8,500 employees worldwide. Its President and Chief Executive Officer is Mr. Kenji Miyahara. For details, visit: www.sumitomocorp.co.jp. |
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