CTC and UTC Announce Strategic Alliance

October 27, 2002 by Jeff Shepard

Capstone Turbine Corp. (CTC, Chatsworth, CA) and United Technologies Corp. (UTC, Hartford, CT) announced that they have entered into a strategic alliance to integrate, sell and service microturbine-based combined heat and power solutions for commercial buildings.

UTC and Capstone intend to build on key product, technology and channel strengths of the companies. The agreement covers North America and most of Europe. As part of the alliance agreement, UTC has committed to purchase a 4.9-percent stake in Capstone.