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Monday, Apr 22, 2024

Capstone Receives Australian Order

Capstone Turbine Corp. announced Monday it has received an additional order from an Australian company that services the coal-seam gas industry. The Chatsworth company, which makes small turbines that can run on natural gas, diesel and other fuels, is delivering 14 units more microturbines to Aquatec-Maxcon Pty Ltd., a suburban Brisbane distributor. The original order, placed in July 2008, has been increased several times. It now totals 248 units. Financial details were not disclosed. “The oil and gas market continues to be our fastest growing market and in our first quarter of fiscal 2014 accounted for 57 percent of revenue,” said Capstone Chief Executive Darren Jamison, in a prepared statement. Coal seam gas – found in fissures in coal deposits – is used in Australia to fuel power stations that supply major industrial customers, businesses and homes. Shares gained 2 cents, or more than 1 percent, to close at $1.12 on the Nasdaq.

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