Cummins Powered by Capstone Agreement; Cummins Inc and Capstone Turbine Corporation.Business Editors COLUMBUS, Ind.--(BUSINESS WIRE)--April 30, 2001 Cummins Inc. (NYSE NYSE See: New York Stock Exchange :CUM) and 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 (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 ) announced today a three-year agreement to distribute Capstone powered microturbine systems through the Cummins Power Generation Business Unit. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the terms of the agreement, Cummins will incorporate Capstone's 30 and/or 60-kilowatt microturbine systems into a new Cummins line of turbine powered generator systems. These Cummins products will have a "Powered by Capstone MicroTurbine" nameplate and be sold worldwide, with the exclusion of Japan and Mexico. The products will be available in the marketplace later this year. Cummins Power Generation is a global supplier of diesel and natural gas-powered generator sets, power electronics and generator set components from five kilowatt kilowatt: see watt. to multi-megawatt installations. It is also the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. market leader in auxiliary generator sets for recreational vehicles (RVs) and recreational marine applications. In 2000, sales were $1.4 billion. Cummins Power Generation has a worldwide network of 500 distributorships and branches. Capstone MicroTurbine power system utilize a newer technology to generate electricity and usable heat with very low emissions from a variety of fuel sources, including natural gas, propane, diesel, 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 and low-grade "waste" gases from landfills, oilfields, sewage treatment Sewage treatment Unit processes used to separate, modify, remove, and destroy objectionable, hazardous, and pathogenic substances carried by wastewater in solution or suspension in order to render the water fit and safe for intended uses. plants and agricultural digesters. "These low-maintenance Capstone MicroTurbine power systems have demonstrated real-world reliability with more than a half-million hours of aggregated operation," said Jack Edwards Jack Edwards may mean:
"This endorsement and adoption of the Capstone MicroTurbine technology by one of the world's leading engine manufacturers is very significant," 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. "We see our technology as complimentary to traditional reciprocating engines. This agreement is an important recognition that our unique approach to clean engine technology is viable." About Cummins Cummins, headquartered in Columbus, Ind., is the world's largest producer of commercial diesel engines above 50 horsepower. The company provides products and services for customers in markets worldwide for engines, power generation, and filtration. In 2000, Cummins reported record sales of $6.6 billion. Press releases by fax may be requested by calling News on Demand at 888-329-2305. Cummins' new website on the Internet can be found at www.cummins.com. About Capstone 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 (HEV's):onboard generation -- Resource recovery: converting oilfield and biomass waste gases into electricity -- Micro-cogeneration: combine heat/power/chilling solutions -- The 9s market: power quality and reliability Information provided and statements made on this release that are not purely historical are 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. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including statements regarding the company's expectations, hopes, beliefs and intentions on strategies regarding the future. It is important to note that the company's actual future results could differ materially those projected in such forward-looking statements because of a number of factors, including but not limited to general economic, business and financing conditions, labor relations, governmental action, competitor pricing activity, expense volatility, and other risks detailed from time to time in Cummins Securities and Exchange Commission filings. Note: Information on the FT Energy Award note above is at http://www.microturbine.com/whatsnew/pressrelease.asp?article=56 |
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