Capstone Green Energy Corp (fka CGRNQ)

[TheyCallMeBruce]

Federal Investment Tax Credit Extended to 2016 for Microturbines and New Tax Credit for Combined Heat & Power Passed into Law

CHATSWORTH, Calif., Oct 15, 2008 (BUSINESS WIRE) -- Capstone Turbine Corporation (www.microturbine.com) (NASDAQ:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that the eight year extension of the 10 percent federal tax credit for microturbines through 2016 will continue to apply to purchases of the company's ultra-low emission and ultra-high reliability Capstone MicroTurbine(R) systems. The Act also creates a 10 percent tax credit for Combined Heat and Power (CHP) systems. President Bush signed the Emergency Economic Stabilization Act of 2008 (H.R. 1424) into law on October 3, 2008.

"We believe that the extension of the existing microturbine tax credit and creation of the new CHP tax credit will increase the visibility of our products and create an even stronger demand in the United States," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "Today approximately 65 percent of our record $42.7 million in product backlog is outside of the United States as customers in countries that have a strong policy on energy efficiency and climate change have been adopting our new clean energy technology," Crouse added.

"Congress showed leadership in continuing to promote microturbines as a clean, green, and reliable source of energy," said Darren Jamison, President and Chief Executive Officer of Capstone Turbine Corporation. "The tax credit will continue to help businesses and building owners lower their energy costs while also demonstrating their commitment to clean energy and to the environment by installing microturbine CHP systems in their buildings," Jamison stated.

http://www.capstoneturbine.com/news/story.asp?id=488