N.Y. Department of Public Service Approves Capstone MicroTurbines for Grid Interconnection; Landmark Product Approval Expected to Facilitate Microturbine Installations.Business Editors CHATSWORTH, Calif.--(BUSINESS WIRE)--Aug. 9, 2000 The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State Department of Public Service has approved the Capstone MicroTurbine as the first 3-phase distributed generation Distributed generation generates electricity from many small energy sources. It has also been called also called on-site generation, dispersed generation, embedded generation, decentralized generation, decentralized energy or (DG) device permitted to operate in parallel with utilities in the State of New York as part of the state's new DG standard. The ruling eliminates the need for 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. Corp. to conduct costly, repetitive and time-consuming verification tests from each of the states' utility companies. Businesses will be able to generate their own power onsite, reducing energy costs, eliminating outage and power fluctuation problems, and easing demands on the grid during peak hours peak hours npl, peak period n → horas fpl punta peak hours peak npl → heures fpl d'affluence or de pointe . "Capstone has, from the start, recognized the importance of providing safe and reliable technical solutions for connecting microturbines with the electric grid," said Dr. Ake Almgren, president & 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 Corp. "We are excited to be the first generator system to meet New York's pacesetting new distributed generation standard. It will enable utilities and their customers to respond to growing power Growing Power is an urban agriculture organization headquartered in Milwaukee, Wisconsin. It runs the last functional farm within the Milwaukee city limits and also organizes activities in Chicago. needs easily, cleanly, reliably and almost immediately." Capstone manufactures the only microturbine systems listed by Underwriters Laboratories Underwriters Laboratories Inc. is a U.S. not-for-profit, privately owned and operated product safety testing and certification organization. Based in Northbrook, Illinois, UL develops standards and test procedures for products, materials, components, assemblies, tools and Inc. UL-Listing demonstrates consumer safety compliance. The New York Department of Public Service reviewed UL's test report on the protective functionality of the Capstone system and, in their letter of approval, stated, "Based on our review of the information provided by UL, the department staff verifies that the appropriate tests have been performed." "The real task with distributed generation is to come up with common-sense rules that allow technology such as the Capstone MicroTurbine to be easily deployed in the marketplace," said Sarah McKinley, executive director, Distributed Power Coalition of America. "It's not the technology that is costly, it's the implementation costs, such as negotiating and testing with utilities." The New York standard represents a significant step towards minimizing these costs. About Capstone Turbine Corp. Capstone Turbine Corp. (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 ) 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 10 years of focused research. Worldwide, hundreds of commercial production Capstone MicroTurbine systems serve, among others, the following applications: -- Hybrid electric vehicles A hybrid electric vehicle (HEV) is a vehicle which combines a conventional propulsion system with an on-board rechargeable energy storage system (RESS) to achieve better fuel economy than a conventional vehicle without being hampered by range from a charging unit like an (HEVs): onboard generation -- Resource recovery: converting oilfield and biomass waste gases into electricity -- Micro-cogeneration: combined heat/power/chilling solutions -- The 9's 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. Readers 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," 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 and risk factors identified, among other places, under "Risk Factors" in Capstone's registration statement on Form S-1, SEC File No. 333-33024. Capstone cautions readers not to place undue reliance on these statements, which speak only as of the date of this release. Note to Editors: Photos available at: http://www.microturbine.com/whatsNew/download1.asp |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion