Capstone Launches Distributor Finance Program

Capstone Turbine Corp. announced Tuesday a partnership with finance company Acresis to put together as much as $100 million for a product-financing program for Capstone distributors. The Chatsworth manufacturer of microturbines for electricity production will work with Acresis, based in the Woodlands, Texas, to arrange financing for Capstone products. RSP Systems, Capstone’s distributor in the greater New York area and Connecticut, with support from Acresis, secured an initial $3 million credit facility based on current sales of Capstone turbines. Acresis works with companies to develop strategies and financing for growth. They have a network of more than 400 mid-market private equity firms and numerous long-term lender relationships. “We look forward to partnering with Capstone to roll out this financing program to all qualified Capstone distributors. It is an excellent opportunity for the distributors to grow their revenue and expand their business,” Michael Edwards, Acresis’ operating partner, said in a statement. Capstone shares closed up 6 cents or 7.7 percent to 87 cents on the Nasdaq.