Capstone Turbine provides update on ESG focus, sustainability philosophy
Capstone Turbine Corporation is providing an update to shareholders on its focus on the Environmental, Social, and Governance principals as part of its ongoing effort to improve transparency and corporate responsibility. The California Air Resources Board has acknowledged Capstone's Signature Series C200S and C65 energy systems meet CARB 2007 Fossil Fuel emissions standards, the most stringent emissions requirements for distributed generation equipment in the world. Capstone's proprietary microturbine technology helps customers achieve environmental benefits by utilizing an ultra-lean premix fuel injection technology to minimize criteria pollutants in the engine exhaust that meet tight emissions standards, thereby reducing pollutants released into the environment. When used in combined heat and cooling or CHP applications, the efficiency of the overall microturbine solution can be 70% to 90%. This is significantly better than traditional centralized fossil fuel electricity generation and local heating or cooling equipment, thereby reducing greenhouse gas emissions. Capstone microturbine solutions allow customers to reduce their carbon footprint and help them achieve their overall sustainability objectives. Furthermore, the microturbines can also operate on a variety of different waste fuels which can reduce air pollution associated with flares or release of waste gasses directly into the atmosphere. The company through its Capstone Cares program participates in Red Cross blood drives, building homes in the community in conjunction with Habitat for Humanity, conducts book drives, food drives and an annual Spark of Love toy drive with the local fire protection districts. Recently as the company successfully consolidated its two facilities into one, it was faced with an abundance of office furniture that was no longer needed. Therefore, the company donated truckloads of office furniture to the Los Angeles Unified School District so that it may be used in schools throughout the local community. Capstone has taken these core principals and also applied them to create a positive work environment for its employees that focuses not only on providing a fun and safe working environment, but also a workplace that encourages a healthy lifestyle through its regular CEO 10,000 Step Challenge, health and lifestyle expo, 1x1 walking meetings, and the new Capstone Commons outdoor employee recreation and relaxation area which provides for a higher quality work environment. Governance and transparency are core aspects of a successful business and Capstone conducts an ongoing program to maintain that focus beginning with an active and independent Board of Directors. With the exception of Mr. Jamison, Capstone's CEO, the entire board is comprised of outside and independent members. Furthermore, in an effort to provide a new and independent perspective, the Board of Directors has undertaken a director refresh program that has rotated in a new board member in each of the past three years and plans are to continue this refresh in the future.