Capstone Wins Most Innovative Commercial Technology Development Award
At the second annual Financial Times Energy Global Awards ceremony held here last night, Capstone Turbine Corp. (Nasdaq:CPST) won the prestigious "Most Innovative Commercial Technology Development Award" for its line of microturbine power systems.
Other nominees in the category were ABB Alstrom (ABB.NS), Catalytica Combustion Systems (Nasdaq:CTAL), Fortum Energy and Silicon Energy Corp.
Several other award winners in the event's other 12 categories included: DuPont (NYSE:DD) for "Best Environmental Practice," Enron (NYSE:ENE) for "Energy Company of the Year," Calpine (NYSE:CPN) and Scottish Power (NYSE:SPI) in a tie for "Best Electricity Company," David L. Sokol of MidAmerican Energy for "CEO of the Year," and Innogy Holdings (NYSE:IOG) for "Most Promising Pre-Commercial Technology Development."
Accepting the award at the gala, sponsored by Deloitte Touche Tohmatsu, Capstone president and CEO, Dr. Ake Almgren, said, "Only in America could the idea of a microturbine surface. Only in America could venture capital invest $260 million and stay with the vision for more than eight years. Only in America would you find a group of individuals with the same combination of talent, energy and perseverance working together. And only in America could a person who speaks with an accent be chosen to lead that company."
Almgren later went on to note that this award comes at a particularly auspicious time for Capstone Turbine Corp. "Almost exactly two years ago, Capstone produced its very first commercial production Model 330 Capstone MicroTurbine. And just a few days ago we shipped our 1000th commercial production system. To top off this historic week by having our systems recognized as the energy industry's most innovative commercial technology is truly splendid."
Capstone MicroTurbine(TM) systems generate electricity and heat from natural gas, methane, propane, diesel and kerosene as well as from unprocessed oilfield flare gas, landfill gas, 7-percent sour gas and other waste gases. UL-Listed Capstone MicroTurbines are characterized by extremely low NOx emissions, have a single moving assembly, and use no oil, coolants or other liquids.
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