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Friday, Feb 23, 2024

Capstone Signs Deal

Capstone Turbine Corp. has signed a manufacturing plant in Mexico to its factory protection plan program. The plan, which is like an extended warranty, covers a 1 megawatt microturbine from the Van Nuys company that is owned and operated by one of the world’s largest latex-based product manufacturers. The company did not reveal the price of the plan, but such deals are usually significant financially. The mircroturbine is used for electrical and thermal generation, with the heat exhaust fed to a large oven used to dry the latex. The factory protection plan covers scheduled and unscheduled maintenance for 10 years starting in December after the expiration of the company’s current warranty. Jeff Foster, senior vice president of customer service and product development, said Capstone is always pleased to see a customer who benefits from aftermarket warranties and the factory protection plan to provide peace of mind in an uncertain world “By signing on early for a long-term FPP in advance of the warranty expiration, this customer has secured attractively priced, clean and green energy for well over a decade,” Foster said in a statement. Shares in Capstone closed down 4 cents, or less than 2 percent, to $2.44 on the Nasdaq on Friday, a day when that market was up less than 0.1 percent.

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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