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Capstone Secures 1 MW Order for Remanufactured C1000R to Large Oil & Gas Customer in Northern Iraq

 

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 Capstone Turbine Corporation (www.capstoneturbine.com) (CPST), the world’s leading clean technology manufacturer of microturbine energy systems, announced it secured an order for a remanufactured C1000R to an oil and gas production site in Northern Iraq. The remanufactured C1000R package guarantees like-new performance with the same quality, reliability, and durability expected from a Capstone system.

One of the Company’s four strategic goals is to diversify into new market verticals and geographies with a focus on Africa, Latin America, and the Middle East. In the last year, Capstone shipped products into Columbia, Brazil, Venezuela, South Africa, Mali, Israel, Saudi Arabia, Kuwait, Oman, Qatar, and now Northern Iraq.

“As we continue to execute against our geographic diversification strategy, we expect to see continued growth in orders from the Middle East,” said Darren Jamison, President and Chief Executive Officer of Capstone. “With current oil prices and an overall increase in sensitivity to flaring associated gas, we have seen an increase in our oil and gas activity globally,” added Mr. Jamison.

The associated gas-fueled C1000R microturbine will act as the primary energy source for the remote site and will require minimal maintenance. Capstone microturbines align perfectly with the needs of oil and gas producers as they can be used in all phases of production operations, including upstream, midstream, and downstream in both onshore and offshore applications.

According to the U.S. Energy Information Administration (EIA), International Energy Outlook 2017 report, fast-paced population growth and access to ample domestic resources are both important determinants of energy demand in Africa and the Middle East, where energy use is expected to increase 51% and 45%, respectively, between 2015 and 2040.

“This order will help to further solidify Capstone microturbines as a new state of the art solution for oil and gas producers in the Middle East,” said Jim Crouse, Executive Vice President of Sales and Marketing for Capstone. “Furthermore, the project demonstrates the confidence oil and gas customers continue to have in the reliability and long service intervals of Capstone’s products,” concluded Mr. Crouse.

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