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Saturday, May 21, 2022

Capstone Sells Turbine to Toronto Apartment Tower

Capstone Turbine Corp. announced Wednesday it has received an order for one of its microturbines from a Canadian real estate investment trust. The 260-kilowatt combined heat and power microturbine will be installed in a large residential tower in the Toronto area to provide backup electricity. The order for the system was done through Vergent Power Solutions, Capstone’s exclusive distributor for eastern Canada. The system marks the fourth that Capstone, in Van Nuys, has supplied for an apartment or condominium building in the Toronto area. “Ontario is Canada’s most populous province, accounting for nearly 40 percent of the country’s population and is the second-largest province in total area, so it is a critical (combined heat and power) market for Capstone,” Chief Executive Darren Jamison said in a prepared statement. Shares in Capstone (CPST) closed Thursday unchanged at 75 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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