New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 17, 2014
08:37 EDTCPSTCapstone Turbine receives multiple orders for customers in Permian Basin
Capstone Turbine announced that it has received orders for two Capstone C1000s and an order for 25 Capstone C65 microturbines to be used for oil and gas production in the Permian Basin located beneath west Texas and southeastern New Mexico. According to an October 2013 article in Investors Daily, the Permian Basin receives a fraction of the press coverage accorded the Bakken and Eagle Ford, but it has more production potential than these two shale formations combined. Horizon Power Systems secured the order for the two Capstone C1000 microturbines to be used by an independent oil and gas producer in the area. This marks Capstone's first multiple megawatt project in the Permian Basin after previously installing multiple C30s and C65s at project sites in the region. The C1000s will replace unreliable grid service from the local utility and be used to power the client-owned electric grid. This small local grid will supply power to various well locations in addition to the field operations office. The site is expected to be commissioned in March.
News For CPST From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
April 15, 2015
16:19 EDTCPSTCapstone Turbine files $100M mixed securities shelf
Subscribe for More Information
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.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use