Cummins Signs Development Agreement with Capstone Turbine; Leading Engine Manufacturer to Market Its Own Line of Capstone-Powered Energy Systems.Business Editors CHATSWORTH, Calif.--(BUSINESS WIRE)--April 30, 2001 Cummins Incorporated (www.cummins.com) (NYSE NYSE See: New York Stock Exchange :CUM) has signed an 3-year agreement with 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 ) to develop and market Capstone MicroTurbine driven stationary power systems of Cummins' design. Cummins will work in conjunction with Capstone Turbine in the development of new Cummins products with the insignia "Powered by Capstone MicroTurbine." Cummins expects to have such OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and systems on the market later this year. In addition to North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Cummins has a strong presence in developing nations such as China, India and Brazil. Cummins intends to sell these new products worldwide, with the exclusion of Mexico and Japan. Cummins Power Generation is a global supplier of diesel and natural gas powered generator sets, power electronics and generator set components from 5 kilowatts to multi-megawatt installations. Cummins states that they are 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 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 systems 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 unprocessed "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 complementary to that or traditional reciprocating engines. This agreement is an important recognition that our unique approach to clean engine technology is viable." About Cummins Cummins Incorporated (www.cummins.com) (NYSE:CUM), headquartered in Columbus, Indiana Columbus (IPA: [kəˈlʌm.bəs]) is the county seat of Bartholomew County, Indiana. The population was 39,059 at the 2000 census. The current mayor is Fred Armstrong. , 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. 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 and biomass 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," as that term is used in the federal securities laws, about Capstone's business, including statements regarding third-party purchase/distribution plans. 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," anticipates," "estimates," "we see" 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 include those risks, uncertainties, marketplace competitors and risk factors identified, among other places, under "Risk Factors" in Capstone's registration statement on Form S-1, SEC File No. 333-48524 and in Capstone's Annual Report 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 December 31, 2000. Capstone cautions you 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 any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Note: Information on the FT Energy Award noted above is at http://www.microturbine.com/whatsnew/pressrelease.asp?article=56 Note: High-resolution photos available at: http://www.microturbine.com/whatsnew |
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