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Tuesday, Oct 3, 2023

Capstone Makes Sale in Kazakhstan

An oil and gas producer in western Kazakhstan ordered its first microturbine from Capstone Turbine Corp. for use in a gas-to-energy project. The unnamed customer may order up to another four of the C1000 microturbines from the Van Nuys manufacturer depending on the operating results of the first device to be installed this summer. The order was secured by TOO Synergy Astana, Capstone’s distribution partner in Kazakhstan. Capstone Chief Executive Darren Jamison said the company was beginning to see positive results from the work and dedication of its new distributor as it makes sales in the oil and gas market of the Commonwealth of Independent States. “Through this lengthy and complex process, we have moved from one distribution partner covering multiple verticals, to multiple partners for our three major verticals for distribution of our product and services in the region,” Jamison said in a statement. The Kazakhstan customer chose Capstone for its onsite energy needs due to its microturbines having ultra-low exhaust emissions, low lifecycle cost and ease of maintenance and the ability to operate in a wide range of power output. The Kazakhstan order was announced Monday. Shares in Capstone (CPST) closed Tuesday down 2 cents, or more than 3 percent, to 72 cents on the Nasdaq.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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