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News Breaks
February 6, 2013
08:41 EDTCPSTCapstone Turbine receives follow-on order for 30 C65s from U.S. oil, gas company
Capstone Turbine announced that it continues to expand its presence in the Eagle Ford Shale Play with another follow-on order for 30 C65 microturbines from a U.S.-based oil and gas exploration and production company. The oil and gas exploration and production company's operations are located primarily in the U.S. with natural-gas exploration and production onshore in the lower 48 states, onshore in Alaska, and offshore in the deep waters of the Gulf of Mexico. This latest order brings their total C65 fleet to approximately 150 microturbines. Most of the C65 units were purchased by the oil and gas producer's production division and are utilized for lease automatic custody transfer units. In addition, the company's mid-stream division has previously purchased seven C600s and one C800 making the company one of the largest Capstone users in North America. Capstone distributor Horizon Power Systems secured this follow-on order to support the exploration and production company's growing power needs in the Eagle Ford shale play.
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April 15, 2015
16:19 EDTCPSTCapstone Turbine files $100M mixed securities shelf
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April 10, 2015
16:17 EDTCPSTCapstone Turbine CFO to leave company as organizational structure changed
Capstone Turbine announced that it has flattened its organizational structure to lower operating costs, increase adaptability as well as foster more innovation and creativity. The new organizational structure will eliminate three executive positions and will save the company an estimated $2M annually in salaries equity, benefits, bonuses, and travel costs after payment of associated employee severance benefits. As one part of the organizational change, Capstone's executive VP and CFO Edward Reich will be leaving the company to seek other opportunities. Jayme Brooks has been newly promoted to CFO and Chief Accounting Officer from her long-standing role as the company's VP Finance and Chief Accounting Officer, as the two positions are being merged into one leadership role under the new structure. "In light of the macroeconomic headwinds in oil, currency exchange and geopolitical issues affecting our business over the past year, I felt all the more compelled to flatten our organization and center our focus on improving our current products, broadening our aftermarket services and leaning our internal operations to achieve our short-term goal of EBITDA breakeven," said Darren Jamison, President and CEO at Capstone Turbine.

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