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August 19, 2014
08:42 EDTCPSTCapstone Turbine expands CHP footprint in Russian manufacturing sector
Capstone Turbine announced it has expanded its presence in Russia's manufacturing sector with two ultra-high efficiency combined heat and power, or CHP, projects. Capstone continues to grow its business in Russia despite geopolitical tensions and the latest round of U.S. and Russian sanctions. The two most recent CHP project installations illustrate the ongoing Capstone growth in Russia's manufacturing sector as BPC continues to add to its over 1500-unit Capstone fleet. The U.S. Treasury recently imposed additional sanctions prohibiting U.S. persons from providing new financing to three major Russian financial institutions. For Capstone's purposes, as a result of these new sanctions, U.S. entities cannot transact in, provide financing for, or otherwise deal in new debt of longer than 90 days maturity or new equity with Bank of Moscow, Russian Agricultural Bank, and VTB Bank OAO.
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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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