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Capstone Turbine’s Australian distributor sells another two C600 Signature Series microturbines

The purchase by a major international food producer pushed Capstone’s installed base to 40.1 megawatts in Australia

Capstone Turbine Corporation - Capstone Turbine’s Australian distributor sells another two C600 Signature Series microturbines
Capstone offers a product line-up of microturbines that can produce anywhere from 30 kilowatts to 10 megawatts of power

Capstone Turbine Corporation (NASDAQ:CPST) announced Wednesday that its Australian distributor has sold another two Capstone C600 Signature Series microturbines. 

The purchase, secured by Optimal Group Australia, pushed Capstone’s installed base to 40.1 megawatts (MW) in Australia.  

“Capstone microturbines are well suited for industrial combined heat and power applications worldwide,” said CEO Darren Jamison in a press statement. “Capstone’s business in Australia and Asia is up 9% year-over-year and our CHP (combined heat and power) business has grown from 40% to 54% of our total revenue compared to this time last year.”

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Optimal continues to meet the growing clean and green energy needs of CHP and oil and gas customers across Australia, Capstone said. 

The project required Optimal to deliver a highly efficient and reliable CHP solution to a major international food producer. The project will be installed and commissioned this spring and will serve as a technology demonstration project for the company.  

Optimal will also pursue putting both C600S units under a Capstone Factory Protection Plan (FPP) -- the company's innovative and comprehensive maintenance program designed to give financial peace of mind to microturbine customers by providing product life cycle costs at a fixed rate for both scheduled and unscheduled maintenance for the life of the system. 

Additionally, the recently updated FPP protects microturbine customers from potentially dramatic future increases in life cycle costs associated with changes in replacement spare parts pricing, commodity price increases, import tariffs, and interest rate changes. 

The addition of an FPP on both units would add to Optimal’s 12 MW already under Capstone long-term FPP coverage. 

"Optimal continues to do a nice job developing innovative energy projects, regularly adding new service customers by offering Capstone’s industry-leading long-term service contracts on new sales within their growing fleet," said Jeff Foster, Capstone's senior vice president of customer service and product development. 

"Our highly profitable aftermarket service sector, driven by the recently updated FPP product, is a key element of our positive Adjusted EBITDA plan for the upcoming June quarter and for Capstone's long-term profitability.”

Capstone, based in Van Nuys, California, offers a product line-up of microturbines that can produce anywhere from 30 kilowatts to 10 megawatts of power, operating on a variety of gaseous or liquid fuels. To date, Capstone has shipped over 9,000 units to 73 countries.

Contact the author: [email protected]

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NASDAQ:CPST
Market: NASDAQ
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