Capstone Turbine Corporation to expand into Colombia
“Capstone is becoming the technology of choice to lower energy costs for and increase the operational efficiencies of oil and gas producers worldwide," Capstone Turbine Executive Vice President of Sales and Marketing Jim Crouse said. "It is repeat business like this that continues to highlight Capstone as the manufacturer customers can depend on for advanced solutions to meet their needs year after year."
Natural gas consumption in Colombia has risen by more than 54 percent in the past decade according to the U.S. Energy Information Administration (EIA).
"It is very promising to see orders in new markets that we have targeted as critical growth areas for the company and its always encouraging to see follow on orders from the oil and gas industry despite the precipitous drop in crude oil prices," Capstone President and CEO Darren Jamison said. "In response to the ongoing business headwinds we are experiencing, we are looking to expand our business in Latin America, Australia, Africa and the Middle East. These markets have tremendous potential and will give us an ability to offset the slowdown we are experiencing in the energy space and more specifically in Russia."