Capstone Green Energy To Provide 2.6 MW of Microturbine Energy Systems for Southern California Customers
06 June 2022 - 10:00PM
Business Wire
Eco-friendly Systems To Provide Cost
Effective Power for Education and Agriculture
Capstone Green Energy Corporation (NASDAQ: CGRN), a global
leader in carbon reduction and on-site resilient green Energy as a
Service (EaaS) solutions, will be enabling two new customers in the
education and agricultural sectors to achieve their energy,
reliability and environmental goals. Cal Microturbine, Capstone’s
exclusive distributor for California, Hawaii, Nevada, Oregon and
Washington, has secured two orders for Capstone Green Energy
Signature Series systems in Southern California. The first order
for one C600S unit will be installed for a customer in the
education space, while the second order for two C1000S units will
be provided to a customer in the agriculture industry. All the
systems are expected to be operational by the early part of
2023.
“Capstone Green Energy continues to build its portfolio as a
cutting-edge provider of clean energy solutions and technology. Our
distinct product lines help customers across industries and sectors
in California and around the world find green energy solutions.
Customers choose Capstone to meet their energy needs while boosting
the reliability of their energy supply, improving predictability of
energy costs and lowering their carbon footprint,” said Darren
Jamison, Chief Executive Officer of Capstone Green Energy.
In both cases, customers selected Capstone’s microturbine
technology for its low emissions while also providing the best
overall value for lifecycle cost and operational cost savings. In
the case of the C600S installation for the education customer, the
unit will be part of a microgrid installed concurrently with the
microturbine system. Both systems will be fueled by natural gas and
will feature Capstone’s Logic Controller (CLC) which allows for
fully automated control of the energy system.
“Capstone’s C1000 Signature Series microturbines are maturing
nicely as they mark their fifth year in the market. We see them as
the most reliable on-site power generation technology available
today. The C1000 Signature Series possesses a unique modular
design, which allows for unprecedented redundancy in the most
cost-effective way. Further, the modular infrastructure provides
customers with several other competitive advantages: increased
reliability, efficient serviceability without operational
interference, and the ability to expand energy production needs as
businesses grow. We are excited to see California’s continued focus
on adopting Capstone’s Signature Series microturbine product
array,” said Cal Microturbine Chief Executive Officer, Ryan
Brown.
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.
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 full fiscal years are estimated to be approximately $698
million in energy savings and approximately 1,115,100 tons of
carbon 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 forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995, including
statements regarding expectations for green initiatives and
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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