REPEAT/Capstone Turbine Corp Appoints Dr. Ake Almgren

23 June 1998

REPEAT/Capstone Turbine Corporation Appoints Dr. Ake Almgren Chief Executive Officer

    TARZANA, Calif.--June 23, 1998--In a move that positions the company for aggressive entry into the power generation market, Capstone Turbine Corp. Monday announced the appointment of Dr. Ake Almgren as president and chief executive officer.
    Formerly with ABB, Almgren's career spans 28 years in power systems, power distribution and industrial engineering. Almgren assumes his duties with Capstone on July 1, 1998.
    "Ake is a world-class industry manager with a vision for distributed generation that is consistent with Capstone's mission," said Capstone chairman of the board Vern Raburn.
    Raburn added, "Just last week, we celebrated the 100,000th field test hour completed by the Capstone MicroTurbine. That's more time in real-world applications than any other power generator of its kind. This positions Capstone to move into a new phase and Ake's proven record of turning engineering-focused organizations into profit-making businesses makes him the right leader at the right time."
    Prior to his position at Capstone, Almgren served as ABB business area manager for distribution transformers worldwide and was responsible for 36 factories in 28 countries. Almgren also presided as president over ABB Power T&D Co. Inc. in Raleigh, N.C. and prior to that appointment, served as president for ABB Power Distribution in Sanford, Fla.
    Before relocating in 1991 to the United States, Almgren was president of Electrolux Autoliv in Stockholm, Sweden. Under Almgren's leadership, the automotive restraint company established a North American presence as well as expanded into the development of airbags.
    As president of ABB Power Systems Co., Almgren led turnkey projects in the United States, Canada, Brazil and India. Almgren began his career with ASEA after completing a master's degree in engineering from Sweden's Royal Institute of Technology. Almgren also holds a Ph.D. in engineering from Linkopings Tekniska Hogskoia.
    Located in Tarzana, Capstone Turbine is the leading developer of clean, compact power-generating systems.
    Currently operating in a number of field test applications, the Capstone MicroTurbine will provide environmentally friendly solutions for remote power, distributed power, combined heat and power, load management, stand-alone and standby power. Company information may be found at www.capstoneturbine.com.