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Two Capstone Clean Energy Product Development Projects Selected for Funding Grants

Posted on: Fri, 27 Nov 2009 11:02:00 EST

Symbols: CPST

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Nov 27, 2009 (FinancialWire via COMTEX) --
CPST | Quote | Chart | News | PowerRating -- (Comment on this article at http://www.financialwire.net/2009/11/27/two-capstone-clean-energy-product-development-projects-selected-for-funding-grants/)

November 27, 2009 (FinancialWire) -- Capstone Turbine Corp. (NASDAQ: CPST | Quote | Chart | News | PowerRating) a leading clean technology manufacturer of microturbine energy systems, has received notice of grant awards by the U.S. Department of Energy and Israel's Binational Industrial Research and Development Foundation to participate in two separate clean energy product development projects valued in excess of $3 million.

The grant award from the U.S. Department of Energy is to develop a more fuel flexible microturbine capable of operating on a wider variety of biofuels -- mostly from biomass feedstock (agricultural crop waste), which when gasified becomes synthesis gas or syngas. Syngas has been identified by many offices of the DOE as a new "opportunity fuel" for future clean energy projects.

The two year project will total almost $3.8 million, with the DOE supporting the project with $2.5 million which includes the support of Argonne National Laboratory. Capstone is the prime contractor for this project and will rely on support from Argonne National Laboratory, University of California at Irvine, and Packer Engineering, Inc.

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Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

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