Shares of Capstone Turbine Corp. rose more than 10 percent after the company debuted a new distributor support system to improve training, sales efficiency and product branding.
The system of the Van Nuys manufacturer of natural gas-powered microturbines will fund distributor business development activities, customer lead generation, brand awareness and tailored marketing services for each major geographic region.
The system will be funded based on a formula of revenue generated by distribution partners.
Capstone Chief Executive Darren Jamison called the program critical to the company’s future revenue growth and overall success as it allows it to provide a uniform customer experience around the world.
Additionally, the program allows for an increase in spending on customer acquisition, marketing and branding without increasing the company’s annual operating expenses, Jamison said.
“The attractiveness of this new program is that it has been designed to speed up the maturation timeline of the distribution channel while continuing to grow the program’s funding each year as our annual revenues increase,” he added in a statement.
Shares in Capstone closed up 17 cents, or 10.3 percent, to $1.82 on the Nasdaq.