Capstone Green Energy Continues to Expand Its EaaS Business With New 10-Year 1.2 MW Parts & Labor Service Contract in Eastern Europe
28 January 2022 - 12:00AM
Business Wire
Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com)
(NASDAQ: CGRN) ("Capstone," the "Company," "we" or "us"), a global
leader in carbon reduction and on-site resilient green energy as a
service (EaaS) solutions, announced today that Servelect
(www.servelect.ro/en/), Capstone’s exclusive distributor for
Romania, entered into a new 10-year Parts and Labor Factory
Protection Plan (FPP) service contract for two Capstone Signature
Series C600S natural gas-fueled systems installed in Eastern
Europe.
“Capstone continues to focus on expanding our EaaS business,
including our innovative FPP service program, as extended service
agreements generate higher margin rates than traditional product
sales,” said Darren Jamison, President and Chief Executive Officer
of Capstone Green Energy. “Our FPP service business in conjunction
with our long-term rental fleet are the cornerstones of our EaaS
business, which we believe to be key to achieving our profitability
goals,” added Mr. Jamison.
The two Capstone Signature Series C600S units, generating 1.2
megawatts (MWs) of power, are owned and operated by Cemacon,
Romania’s largest ceramic block producer, which was founded in 1969
in Zalau, Romania, and has since expanded to lead that market in
Transylvania. Cemacon has a proud history of innovation and a
belief in environmentally sound processes, having developed an
eco-friendly ceramic production line in which the Capstone C600S
units play a key role in the drying process. With a capacity of
2.25 MW thermal, the high-efficiency cogeneration plant
commissioned in August 2021 operates the two C600S units on natural
gas with an optimized total net efficiency of 95%. Cemacon’s Reccea
plant is located five hours from Bucharest and operates in grid
connect mode supporting the plant’s power requirements and
exporting approximately 400 kilowatts (kW) of excess power to the
local grid.
“For this industry, the installation signals a progressive
approach with the significantly reduced emissions, improved
environmental footprint, and high net efficiency,” stated Tracy
Chidbachian, Capstone’s Director of Customer Service. “We are
meeting the customer’s operational needs for a secure and stable
drying process and doing so in an environmentally responsible
manner while providing the customer significant financial savings,”
concluded Ms. Chidbachian.
The Capstone Green Energy parts and labor FPP is designed to
provide ten years of comprehensive maintenance, giving the end-use
customer financial peace of mind and protecting the installation
from potentially costly unscheduled maintenance.
About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (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 Conversion Products 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 Products business line designs and
installs microgrid storage systems creating customized solutions
using a combination of battery technologies and monitoring
software. Through Hydrogen Energy Solutions, Capstone Green Energy
offers customers a variety of hydrogen products, including the
Company’s microturbine energy systems.
For customers with limited capital or short-term needs, Capstone
offers rental systems; for more information, contact:
rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000
units to 83 countries and estimates that, in FY21, it saved
customers over $217 million in annual energy costs and
approximately 397,000 tons of carbon. Total savings over the last
three fiscal years are estimated at 1,115,100 tons of carbon and
$698 million in annual energy savings.
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, and the Company’s presentation and
responses to questions at the Water Tower Research Virtual Fireside
Chat Series will contain, forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995, including
statements regarding achievement of profitability goals,
expectations for green initiatives, execution on the Company's
growth strategy 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
the impact of pending or threatened litigation. 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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Capstone Green Energy Investor and investment media inquiries:
818-407-3628 ir@CGRNenergy.com
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