CHATSWORTH, Calif., Oct. 20, 2016 (GLOBE NEWSWIRE) — Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world’s leading clean technology manufacturer of microturbine energy systems, announced today that the U.S. Department of Energy (DOE) will provide funding in the amount of $335,000 for one year to Argonne National Laboratory to conduct hydrogen and synthetic fuel (“syngas”) testing on Capstone’s C65 and C200 microturbines.
In October 2015, Capstone partnered with Argonne National Laboratory, a science and engineering research facility that is managed by UChicago Argonne, LLC for the DOE’s Office of Science, for participation in the DOE’s Technologist in Residence (TIR) program. Since then, Capstone and Argonne have explored new focus areas to advance the adoption of low-emission, high-efficiency power solutions. The additional funding from the DOE will help to drive Capstone’s hydrogen and syngas fuel product offering to market and promote further research and development efforts.
“It is very exciting to take a proposed project as part of the TIR program and turn it into a project that will move our technology into new markets,” said Tony Lorentz, Director of Product Development and PMO at Capstone Turbine. “Our partnership with Argonne National Lab and the Energy Department has been a great success and continues to yield exciting new opportunities,” added Mr. Lorentz.
“The TIR program has been an excellent platform to work one-on-one with industry and to bolster industry involvement with the national lab enterprise. This team effort has the potential to expand in other areas of research and development,” said Munidhar Biruduganti, a Principal Research Engineer and the Argonne technologist for the TIR program.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST) is the world’s leading producer of low-emission microturbine systems and was the first to market commercially viable microturbine energy products. Capstone has shipped approximately 8,800 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone is a member of the U.S. Environmental Protection Agency’s Combined Heat and Power Partnership, which is committed to improving the efficiency of the nation’s energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO 9001:2008 and ISO 14001:2004 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East, China and Singapore.
This press release contains “forward-looking statements,” as that term is used in the federal securities laws, about the adoption of low-emission, high-efficiency power solutions; the advancement of hydrogen and syngas fuel product offerings, and the expansion of Capstone’s technology into new markets. Forward-looking statements may be identified by words such as “expects,” “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.
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