Shares of Capstone Turbine Corp. hit a 52-week high Tuesday on news that New York real estate developer Related Cos. had placed orders for the firm’s microturbine energy systems. Related owns a portfolio of properties valued at more than $15 billion, and is currently developing the 360-acre Hudson Yards project in Manhattan. Some turbines are for installation on buildings within the mixed-used development of housing, office, hotel and retail. Financial terms were not disclosed. The Chatsworth company makes small turbines that can run on natural gas, diesel and other fuels. It said the orders came through New York distributor RSO Systems, which is expecting more orders. “Executives at Related Cos. have already indicated they are interested in installing additional Capstone microturbines in other properties within their portfolio,” said RSP President Cory Glick, in a statement. Shares hit a 52-week high of $1.20 in midday trading on the Nasdaq, before settling down to close at $1.17, for a gain of 14 cents.
