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Thursday, Jun 8, 2023

Capstone Sells Follow-on Turbine

Capstone Turbine Corp. received a third follow-on order for a microturbine from a company with natural gas operations in the Mid-Atlantic region.

The order for the C600 Signature Series microturbine was secured by E-Finity Distributed Generation, the Van Nuys manufacturer’s exclusive distributor in the Mid-Atlantic and Southeast areas of the country.

The unnamed customer operates natural gas wells in the Appalachian Basin, an area more than 1,000 miles long stretching from southern New York to northeast Alabama.

Capstone Chief Executive Darren Jamison called natural gas compression stations a critical part of the production process and a natural fit for the company’s microturbines, which are powered by natural gas.

“As natural gas travels down thousands of miles of pipeline, microturbines offer the ideal solution to provide highly reliable power onsite using the molecules already moving through the pipelines,” Jamison said in a statement.

The company announced the sale Thursday. Shares in Capstone (CPST) closed Friday down 1 cent, or 1.4 percent, to 74 cents on the Nasdaq.

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