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March 17, 2014
08:40 EDTCPSTCapstone Turbine receives C200 order in the U.K.
Capstone Turbine Corporation announced its first order out of the United Kingdom for a C200 natural gas microturbine to be installed at a Royal Air Force base. The microturbine will be used in a CHP district heating application with the electricity generated being connected into the Junior Ranks Mess. During the summer the microturbine will operate in isolation and provide all of the thermal output to cover the hot water requirement via the district heating system to six accommodation blocks and a rugby club. By utilizing the heat generated from the microturbine, they will no longer need to run the electric immersion heaters in each accommodation block throughout the summer. During the winter the microturbine will be the lead heat source and the two current 1.4MW boilers will provide additional input to provide the necessary heating. The estimated payback time for this project is less than 3.5 years.
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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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