So when we look at the world, energy consumption is increasing every year. But most importantly, that energy needs to be clean. We have 1.3 billion people without power worldwide. Plus you have the issue of smog, emissions environmental issues. It's not sustainable to keep growing the way the planet is without having more energy efficiency, clean energy, low emissions, and zero emission technologies. And when you think of clean energy, Capstone is one of the innovative leaders because we generate power at the source with ultra low emissions, extremely high reliability, and a cost-effective manner. Innovation in any sector is a challenge and energy is no different. Trying to develop new cutting-edge technologies with higher efficiency and lower emissions, you can't sacrifice reliability or quality. Capstone's microturbine technology is very clean, very green. It has several other unique features, including an air bearing technology, which means we have no oil, no antifreeze, one moving part.
Really, power electronics are the key to our solution. This allows a customer to focus on their core business and spend less time doing maintenance on the microturbine. Capstone's microturbines serve several energy needs really depending on the end-user. Whether it's prime power, peak shaving, backup power. All of our customers will typically use our product at least 50 percent of the time. We also solve energy needs when it comes to energy efficiency and thermal use of the products. Taking steam, hot water, or even chilled water from the absorption chiller off the back of our exhaust. Capstone has shipped over six thousand microturbines worldwide, and has thousands of installations virtually in almost every corner of the globe. Whether you're a plastics company here in California or you're a food processor in Austria, you can use our technology as part of your key manufacturing process.
So here in California, the plastic company is actually using our exhaust to melt the plastic as part of their manufacturing process. Or in the food application in Austria, they're using it to sterilize bottles. So not only are we providing clean energy, reliable energy, we are seeing energy efficiency rates as high as 90 percent, and are critical to their manufacturing process with the heat coming off the machine. Oil and gas is one of the key areas for Capstone's innovation. Whether it's in the U.S. in oil and gas operations, in shale gas operations, or international in both offshore and onshore platforms. Capstone has been instrumental in helping customers like Shell, Pemex, Petronas, Petrobras, or Origin Energy down in Australia, not only provide the energy they need to get their product to market, but do it in an environmentally safe and friendly way. Capstone has been an innovator in the hybrid vehicle space for a long time. The company is actually founded on a hybrid vehicle platform. Today, most of our applications are transit buses.
These buses are electric vehicles with congenitive brakes, and the microturbine sits in the back of the bus. And when the batteries get depleted – about 30 percent state of charge – the microturbine fires up and charges the batteries. And with a small company called Wright Speed, they're taking medium-duty trucks for delivery and package applications, and re-powering them with Capstone technologies. So these are hybrid vehicles, electric vehicles with congenitive brakes, using the Capstone microturbine as a range extender. So getting the vehicle so it can run twenty hours a day without having to stop and refuel. As we look for new applications for our product, Marine is one that fits our technology very well. Energy reliability is extremely critical.
Emissions are becoming more and more important worldwide. And most importantly, we are quiet with almost no vibration, which is essential in marine applications. The future for Capstone is very bright. In the last several years we have grown the business 20 to 30 percent a year with our innovative technology. Getting new customers new applications worldwide. But we continue to innovate our technologies. We have a 250 kilowatt, and 370 kilowatt version, we are currently developing with help from the Department of Energy. What's key about these technologies: they are higher efficiency, which is lower cost per kilowatt, and allow us to penetrate more markets and have faster payback for our customers. So wherever you are in the world, whatever application you're in, whatever country you are in, Capstone is dedicated, through its reliable technology, to give you green, clean, low emission solutions that are both environmentally friendly, and economically friendly.