Thu, 17 Oct 2019

VAN NUYS, CA / ACCESSWIRE / September 16, 2019 / Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it secured an order for two C200S microturbines with 247Solar Inc., a developer of the groundbreaking 247Solar Plant™ that operates every hour of the year. The project will utilize the microturbines in combination with 247Solar's technology to produce one of the world's most versatile, reliable, zero-carbon power generation solutions.

"As Capstone looks to develop zero-carbon solutions, we are quite pleased that 247Solar has selected Capstone's microturbines for the power conversion component of their new technology solar systems," said Jim Crouse, Executive Vice President of Sales and Marketing for Capstone. "There is continued emphasis to deploy renewable energy solutions around the world, and this collaboration with 247Solar provides Capstone with a path to participate in the solar energy market, which is expected to reach $57.3 billion by 2022 according to Zion Market Research," added Mr. Crouse.

Capstone's technology roadmap, announced in October 2018, includes the development of not only ultra-low emissions that meet EPA Tier 4 on liquid fuels but also, new fuel capabilities like butane, hydrogen, and hydrogen blended fuels. In addition, concurrently Capstone is also working in conjunction with innovative technology developers like 247Solar to produce a future Capstone zero-carbon energy solution.

The 247Solar system uses mirrors, or heliostats, to focus sunlight onto a solar receiver. The solar receiver heats airflow through it, which is then used to drive the Capstone microturbines to produce electricity. That heated airflow can also be directed to a thermal storage system, and then transferred back into the Capstone microturbines at night when solar irradiance is not available. As a result, the uniquely designed 247Solar system is capable of supplying power over extended periods of time as needed, not just when the sun is out.

An illustration of the pre-engineered 247Solar Plant, outfitted with Capstone microturbines.

Each Capstone C200S microturbine will be modified to include a higher temperature heat exchanger to capture the energy from the solar receiver or thermal storage system. This heat exchanger is constructed using the proven Capstone recuperator design and uses ultra-high temperature metal alloys designed to operate at extreme temperatures. Energy transferred into the microturbine will replace the turbine's standard combustion system, so there is no fossil fuel consumed during operation on heat input from the sun or the thermal storage system.

The Capstone microturbines would then be part of a renewable energy system with no carbon or criteria pollutant emissions. The turbine's technology is also extremely low maintenance, requiring only 4 to 6 hours of maintenance a year. This equates to high overall system availability and aligns with the overall objective of renewable power, 24/7.

The first installation is scheduled for startup in mid-year 2020 and is located in Ouarzazate, Morocco, in collaboration with Masen, the Moroccan Agency for Sustainable Energy. Masen is responsible for managing renewable energy in Morocco, with a goal to secure 52% of the country's energy mix from renewable sources by 2030.

"247Solar plants represent a turning point for concentrated solar power (CSP) technology as a viable alternative for low-cost baseload solar power generation," said Bruce Anderson, Chief Executive Officer of 247Solar, Inc. "For the first time, we will be able to demonstrate our next generation CSP technologies in operation. We expect the pilot project will quickly lead to the adoption of our turnkey system in power projects of all sizes in Morocco and elsewhere around the world," added Mr. Anderson.

"Our technology roadmap boasts a variety of technological advances that will ensure Capstone's products continue to become an essential part of the renewable energy low carbon and even zero-carbon economy," said Darren Jamison, Capstone's President and Chief Executive Officer. "Microturbines operating on alternative fuels like hydrogen, biogas, butane, renewable natural gas, and concentrated solar energy showcase how Capstone's innovative and adaptable microturbine technology can continue to grow into new segments of the expanding evolution of the green energy economy," concluded Mr. Jamison.

Over the past 30 years, scientific findings regarding climate change have motivated many countries to look for improved ways to curb global carbon emissions. From this, the idea for low-carbon power was born. The Intergovernmental Panel on Climate Change (IPCC), established by the World Meteorological Organization (WMO) and the United Nations Environment Program (UNEP) in 1988, set the scientific precedence for the introduction of low-carbon power. The IPCC has continued to provide scientific, technical, and socio-economic advice to the world community, through its periodic assessment reports and special reports.

About Capstone Turbine Corporation

Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq: CPST) is the world's leading producer of highly efficient, low-emission, resilient microturbine energy systems. Capstone microturbines serve multiple vertical markets worldwide, including natural resources, energy efficiency, renewable energy, critical power supply, transportation and microgrids. Capstone offers a comprehensive product lineup, providing scalable systems focusing on 30 kWs to 10 MWs that operate on a variety of gaseous or liquid fuels and are the ideal solution for today's distributed power generation needs. To date, Capstone has shipped over 9,000 units to 73 countries and have saved customers an estimated $253 million in annual energy costs and 350,000 tons of carbon.

For more information about the company, please visit www.capstoneturbine.com. Follow Capstone Turbine on Twitter, LinkedIn, Instagram, and YouTube.

About 247Solar, Inc.

247Solar, Inc. was formed in 2015 by solar industry pioneer Bruce Anderson to commercialize the 247Solar Plant™, invented by Wilson Solarpower Corp., a spinoff of MIT. The company has signed agreements to develop and deploy its technology in China and Sri Lanka and is in advanced discussions with power project developers throughout the world, including Nigeria, Indonesia, Kuwait, Saudi Arabia, and elsewhere. For more information, please visit www.247solar.com.

Forward-Looking Statements

This press release contains "forward-looking statements," as that term is used in the federal securities laws. Forward-looking statements may be identified by words such as "expects," "believes," "objective," "intend," "targeted," "plan" and similar phrases. These forward-looking statements are subject to numerous assumptions, risks and uncertainties described in Capstone's filings with the Securities and Exchange Commission that may cause Capstone's actual results to be materially different from any future results expressed or implied in such statements. Capstone cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Capstone undertakes no obligation, and specifically disclaims any 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.

"Capstone" and "Capstone Microturbine" are registered trademarks of Capstone Turbine Corporation. All other trademarks mentioned are the property of their respective owners.

CONTACT:

Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com

Integra Investor Relations
Shawn M. Severson
415-226-7747
cpst@integra-ir.com

SOURCE: Capstone Turbine Corporation



View source version on accesswire.com:
https://www.accesswire.com/559695/247Solar-Inc-Selects-Capstone-Microturbines-to-be-a-Key-Component-of-One-of-the-Worlds-Most-Versatile-Reliable-Zero-Carbon-Power-Generation-Solutions

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