Capstone Turbine Corporation NASDAQ:CPST) has signed of a new Distributor Agreement with Collicutt Energy Services Ltd. (TSX:COH), for California and has signed a memorandum of understanding for the renewable energy and cogeneration markets in Western Canada. It is anticipated that the MOU will be converted to a new international Distribution Agreement within 60 days.
Collicutt Energy Services is one of Canada’s leading businesses engaged in providing a turnkey solution in the service and fabrication of natural gas compression, power generation, under balanced drilling equipment, and oilfield production equipment. From its centrally located headquarters in Red Deer, Alberta, Collicutt operates from 13 strategic branch locations throughout Western Canada and the Western United States. The company commenced operations as a natural gas engine and compressor service company and parts provider in 1986. Growing demand stimulated Collicutt to expand its product line into power generation. Its services are all performed in-house allowing for a cost-effective manufacturing process.
Collicutt Energy Services continues to expand its power generation growth through its recently acquired Distributorship for KOHLER Power Systems in California and parts of Nevada.
“Signing Collicutt Energy Services is another good step in strengthening our distribution network through California and Western Canada,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “This agreement opens the door for new sales opportunities for Capstone, because Collicutt has a proven track record of providing its customers with superior quality and high-value products in a timely, cost-effective and professional manner. In addition, the company’s service division offers 24-hour power generation equipment maintenance, and refurbishment services, ensuring minimal down time to its customer base,” added Jamison.
“This new agreement offers Capstone the opportunity to strategically leverage Collicutt’s capabilities and world class service reputation throughout those regions,” said Jim Crouse, Executive Vice President, Marketing & Sales. “Their expertise and knowledge will be a great addition to complement Capstone’s strategic sales growth initiatives,” added Crouse.
“It is the mission of Collicutt Energy Services to not only provide our customers total quality satisfaction, but our attention to detail, innovative solutions, avoidance of waste, belief in the future and pride in accomplishment are the building blocks of our organization that have not changed since the Company’s inception in 1986,” said Steve Collicutt, CEO and President of Collicutt. “Capstone Turbine Corporation’s leadership in clean and green microturbine solutions and its continuing commitment to develop quality products makes them an ideal partnership for us, and I and our entire staff are looking forward to a successful long-term relationship between our two companies,” added Collicutt.
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