Three Separate Orders Illustrate Range of
Applications for Capstone Microturbines
Capstone Green Energy Corporation (NASDAQ: CGRN), a global
leader in carbon reduction and on-site resilient green energy
solutions, announced that Cal Microturbine, Capstone's exclusive
distributor for California, Hawaii, Nevada, Oregon and Washington,
secured three orders for Capstone C1000 Signature Series
microturbines.
Darren Jamison, President and CEO of Capstone Green Energy,
explained, “The flexibility of Capstone’s microturbines is
showcased through a range of customer applications, including oil
and gas production, brewery operations, and renewable natural gas
processing. This is only the beginning of the technology’s
potential uses, along with other applications such as hospitality
and agriculture installations, and EV charging.” According to
Jamison, “Customers consistently report that Capstone microturbines
provide dependable power, while also helping them achieve their
environmental objectives.”
One C1000 will be installed at an onshore oil and gas production
site using associated gas to reduce the site's power use from their
electric utility. This will reduce the customer's operating cost
and avoid flaring otherwise unusable production byproducts. This
oil and gas customer already has three other Capstone
microturbines, and has placed this fourth-order because they have
found that the Capstone microturbines provide the most reliable and
cost-effective power generation technology they have used.
A second C1000 will be installed at a brewery and operate on
digester gas produced from waste byproducts. This microturbine will
replace a reciprocating engine generator that was becoming too
costly to maintain and unreliable for the customer. Operating a
Capstone microturbine in place of the existing generator will also
help in lowering the emissions at the brewery.
The third C1000 will be installed at a landfill as part of a
renewable natural gas processing facility. Operating on the
landfill gas, the microturbine will provide electricity for
processing equipment to convert the remaining raw landfill gas into
pipeline-quality natural gas and other renewable fuels for sale to
customers who want to reduce their carbon footprint.
"All three of these applications have two things in common: the
Capstone C1000 microturbines provide a significant financial
benefit to the facilities that will use them, and they effectively
reduce greenhouse gas emissions. This is a win-win-win solution
that we all need more of," said Steve Gillette, Cal Microturbine's
Director of Sales.
About Capstone Green Energy
Capstone Green Energy (NASDAQ: CGRN) is a leading provider of
customized microgrid solutions and on-site energy technology
systems focused on helping customers around the globe meet their
environmental, energy savings, and resiliency goals. Capstone Green
Energy focuses on four key business lines. Through its Energy as a
Service (EaaS) business, it offers rental solutions utilizing its
microturbine energy systems and battery storage systems,
comprehensive Factory Protection Plan (FPP) service contracts that
guarantee life-cycle costs, as well as aftermarket parts. Energy
Generation Technologies (EGT) are driven by the Company's
industry-leading, highly efficient, low-emission, resilient
microturbine energy systems offering scalable solutions in addition
to a broad range of customer-tailored solutions, including hybrid
energy systems and larger frame industrial turbines. The Energy
Storage Solutions (ESS) business line designs and installs
microgrid storage systems creating customized solutions using a
combination of battery technologies and monitoring software.
Through Hydrogen & Sustainable Products (H2S), Capstone Green
Energy offers customers a variety of hydrogen products, including
the Company's microturbine energy systems.
To date, Capstone has shipped over 10,000 units to 83 countries
and estimates that in FY22, it saved customers over $213 million in
annual energy costs and approximately 388,000 tons of carbon. Total
savings over the last four years are estimated to be approximately
$911 million in energy savings and approximately 1,503,100 tons of
carbon savings.
For customers with limited capital or short-term needs, Capstone
offers rental systems; for more information, contact:
rentals@CGRNenergy.com.
For more information about the Company, please visit
www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on
Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995, including
statements regarding growth expectations and other statements
regarding the Company's expectations, beliefs, plans, intentions,
and strategies. The Company has tried to identify these
forward-looking statements by using words such as "expect,"
"anticipate," "believe," "could," "should," "estimate," "intend,"
"may," "will," "plan," "goal" and similar terms and phrases, but
such words, terms and phrases are not the exclusive means of
identifying such statements. Actual results, performance and
achievements could differ materially from those expressed in, or
implied by, these forward-looking statements due to a variety of
risks, uncertainties and other factors, including, but not limited
to, the following: the ongoing effects of the COVID-19 pandemic;
the availability of credit and compliance with the agreements
governing the Company's indebtedness; the Company's ability to
develop new products and enhance existing products; product quality
issues, including the adequacy of reserves therefor and warranty
cost exposure; intense competition; financial performance of the
oil and natural gas industry and other general business, industry
and economic conditions; the Company's ability to adequately
protect its intellectual property rights; and departures and other
changes in management and other key employees. For a detailed
discussion of factors that could affect the Company's future
operating results, please see the Company's filings with the
Securities and Exchange Commission, including the disclosures under
"Risk Factors" in those filings. Except as expressly required by
the federal securities laws, the Company undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, changed circumstances or future events,
or for any other reason.
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version on businesswire.com: https://www.businesswire.com/news/home/20230323005303/en/
Capstone Green Energy Investor and investment media inquiries:
818-407-3628 ir@CGRNenergy.com
Capstone Green Energy (NASDAQ:CGRN)
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