CHATSWORTH, Calif., July 19, 2010 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, has named Granada Green Energy as a second distributor in Pakistan.
As a Capstone distributor, Granada Green Energy will sell and service low-emission Capstone microturbines into a variety of Pakistani business sectors, including: hospitality, residential, education, healthcare, offices, retail, recreation, industrial, government, telecom, and data centers.
For many of these sectors, the company will sell, engineer, install, and commission combined cooling, heating and power solutions in which waste heat energy from the microturbine is captured and used to heat onsite water supplies and provide building heat and cooling.
Granada Green Energy was established in Karachi, Pakistan in 2003 as a subsidiary of Houston, Texas-based Granada Group of Companies. The company develops liquefied natural gas and green-energy projects worldwide.
According to Mohsin M. Siddiqui, President of Granada Green Energy, Pakistan is facing an acute shortage of power. "The economy has grown eight percent in the last decade, and power has become very expensive," he said. "This has led to a surge in the installation of power plants that provide in-house power completely independent of the grid."
"Capstone microturbines are a solution to high energy costs in Pakistan," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "When using microturbines in a combined cooling, heating, and power application, the cost of energy can be reduced to a fraction of grid power."
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 Turbine has shipped over 5,000 Capstone MicroTurbine(R) systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone Turbine 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 New York Metro Area, Mexico City, Nottingham, Shanghai and Singapore.
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This press release contains "forward-looking statements," as that term is used in the federal securities laws, about reduced costs and increased demand for our products in Pakistan. 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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