leadf
logo-loader
viewCapstone Turbine Corporation

Capstone Turbine distributor signs Factory Protection Plan long-term service contract renewal for microturbines at Connecticut data center

The renewal will provide service coverage for 18 C65 Capstone microturbines installed at the data center for an additional five years on top of the original 10-year coverage period

Capstone Turbine Corporation - Capstone Turbine distributor signs Factory Protection Plan long-term service contract renewal for microturbines at Connecticut data center
The microturbines for the data center were originally commissioned in July 2009

Capstone Turbine Corporation (NASDAQ:CPST) said its exclusive distributor for non-oil and gas markets in New York, RSP Systems has signed a new Factory Protection Plan (FPP) long-term service contract renewal for 1.17 megawatts (MW) of Capstone microturbines installed at a data center in Connecticut.

The firm, which specializes in the clean technology manufacturer of microturbine energy systems, said the FPP enables customers to have predictable and stable maintenance costs for up to twenty years and protect them from future cost increases associated with changes in replacement spare parts pricing, commodity price increases, import tariffs, and interest rate changes.

WATCH: Capstone Turbine wins latest order out of the Bahamas with one of its oldest distributors

The 18 C65 Capstone microturbines for the data center were originally commissioned back in July 2009 and were immediately placed under Capstone’s FPP product, providing 10-years of complete service coverage, including scheduled and unscheduled maintenance.

Capstone said the renewal will provide service coverage on the microturbines for another five years.

The microturbines provide the data center with 24/7 electrical and thermal generation and are also configured in Capstone Dual Mode, making them capable of providing back-up power to critical loads in the event of a grid outage.

In a statement, Jeff Foster, Capstone’s senior vice president of Customer Service and Product Development said: “This FPP renewal, after 10-years of successful operation, demonstrates the significant reliable life of Capstone’s microturbines when supported under our comprehensive long-term service contract from a top Capstone Distributor like RSP. Additionally, we are very pleased to see continuing business activity in the Northeast United States, even as the global economy and this region have been dramatically impacted as a result of the unfortunate (coronavirus) COVID-19 pandemic.”

Darren Jamison, president and chief executive of Capstone added: “We are delighted to highlight both a very satisfied long-term customer of the Capstone technology and the outstanding work of our distributor, RSP Systems. We are quite happy, given the uncertain times in today’s business environment, that a data center customer with critical availability needs has chosen to continue operations with the peace of mind that only products like Capstone’s unique FPP service contracts can produce.”

Contact the author at [email protected]

Follow him on Twitter @Cal_Proac

Quick facts: Capstone Turbine Corporation

Price: 4.99 USD

NASDAQ:CPST
Market: NASDAQ
Market Cap: $55.26 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

4D pharma plc merges with SPAC company Longevity Acquisition Corp

4D pharma plc (LON:DDDD) CEO Duncan Peyton tells Proactive the group is to get a cash injection of US$14.6mln through a merger with Longevity Acquisition Corporation (NASDAQ:LOAC), a special purpose acquisition company. Peyton says the merger will accelerate and de-risk 4D's admission to...

11 hours, 19 minutes ago

2 min read