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Capstone Turbine wins sixth contract from energy service company

Distributor Vergent Power Solutions will maintain the new microturbine power plant for the undisclosed company

Capstone Turbine Corporation -
Capstone offers a product line-up of microturbines that can produce anywhere from 30 kilowatts to 10 megawatts of power

Capstone Turbine Corp. (NASDAQ:CPST), the manufacturer of clean microturbine energy systems, has clinched its sixth contract award from an undisclosed energy service company. 

Vergent Power Solutions, Capstone’s distributor for the Upper Midwest, New England and Eastern Canada, was awarded the contract to maintain a new microturbine power plant for this undisclosed company with a ten-year Capstone Factory protection plan (FPP) service agreement. The plant houses a 325 kW Capstone powered CHP system capable of generating power and low-pressure steam to meet regulatory standards.

“Vergent Power is dedicated to delivering high-quality CHP projects to the Midwest, Eastern Canada and the New England market, with more than 100 systems operating in their region,” said Darren Jamison, Capstone CEO in a statement.

READ: Capstone Turbine achieves first significant win under new direct sales initiative

In other news, the Division of Capital Asset Management & Maintenance (DCAMM) of Massachusetts recently awarded a top energy service company an agreement for the design and construction of an energy retrofit at the Pappas Rehabilitation Hospital for Children in Canton, Massachusetts. As part of this effort, the site will receive a new central heating plant and combined heat and power system as well as a number of other energy conservation measures.

The project will be the second New England hospital contract handled by Vergent Power, where the microturbines’ waste heat is used to make steam for the facility.

“This CHP project will provide the hospital with much needed clean and efficient energy for years to come. Vergent has developed a large portfolio of pending projects and could double their installed base over the next twenty-four to thirty-six months, potentially making them one of our fastest-growing US distributors,” added Jamison.

Capstone, based in Van Nuys, California, offers a product line-up of microturbines that can produce anywhere from 30 kilowatts to 10 megawatts of power, operating on a variety of gaseous or liquid fuels.

Quick facts: Capstone Turbine Corporation

Price: 2.35 USD

NASDAQ:CPST
Market: NASDAQ
Market Cap: $21.43 m
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