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Publish Date : 17-Jul-2018

Capstone Turbine Corporation the world's leading clean technology manufacturer of microturbine energy systems, announced today that it has secured several significant Factory Protection Plan (FPP) aftermarket long-term service contract renewals from a key U.S. oil and gas producer. The FPP renewals are for nine separate contracts, of which seven are five year extensions and two are four year and four month extensions.

E-Finity Distributed Generation, Capstones exclusive distributor for the Mid-Atlantic and Southeastern United States and a leading power solutions provider in the Marcellus and Utica shale regions, secured the follow-on FPP contract renewals to cover a major gas producers growing microturbine fleet at multiple locations.

E-Finity maintains a fleet of approximately 600 microturbines in continuous duty operation. The renewal FPP contracts cover a total of 4.4 MWs and include C30, C65 and C1000 series microturbines. As a result of these latest contract extensions, E-Finity now has 68% of its commissioned Capstone turbines under long-term FPP contracts.

Capstones innovate FPP program is an industry-leading aftermarket service plan, delivering peace of mind, predictable maintenance costs and remote monitoring capabilities at an economical price. The all-inclusive long-term FPP contract helps ensure business continuity while normalizing maintenance costs with a simple fixed maintenance fee per year regardless of the annual scheduled or unscheduled maintenance required.

A key component to Capstones growth strategy is to increase our quarterly aftermarket accessories, parts and service revenue to the point that it covers our quarterly operating expenses, said Darren Jamison, President and Chief Executive Officer of Capstone. Many energy producers in the U.S. shale regions operate in remote locations where traditional utility power is not very reliable and less economical than onsite generation. The FPP offers tremendous value and security to our customers. Capstones microturbines are a reliable, low emission power source that our customers rely on 24/7 to help maintain critical energy infrastructure, said Jim Bondi, Executive Vice President of E-Finity.

Capstone continues to expand its aftermarket service offering to be more competitive in the distributed generation marketplace and is now bundling our product, accessories and service contracts to make our value proposition even more compelling to the end-use customer, said Jeff Foster, Senior Vice President of Customer Service for Capstone.

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