Two ICHP C600S Microturbines Will Power an
On-Site Cogeneration Power Plant
Capstone Green Energy Corporation (NASDAQ: CGRN), a global
leader in carbon reduction and on-site resilient green Energy as a
Service (EaaS) solutions, today announced that Cal Microturbine,
Capstone's exclusive distributor for California, Hawaii, Nevada,
Oregon and Washington, has secured an order for two C600 Signature
Series microturbines with Capstone integrated heat recovery modules
(HRMs).
The order, totaling 1.2 megawatts (MWs), will be deployed to an
on-site power plant for an industrial manufacturer in Southern
California. The systems will be installed in a combined cooling
heat and power (CCHP) application allowing the customer to reduce
its reliance on the local electrical grid while saving on utility
costs. The order is expected to be commissioned by Summer 2023.
“We continue to draw on our long history of advanced engineering
to be a cutting-edge provider of low carbon solutions and
technology through our multiple product lines, each helping
different types of customers in California and around the world to
meet their energy needs while boosting the reliability of their
energy supply, improving the predictability of energy costs and
lowering their carbon footprint,” said Darren Jamison, Chief
Executive Officer of Capstone Green Energy.
Two ultra-low emission Capstone ICHP C600S microturbine-based
systems will provide 1.2 MWs of clean and resilient power,
resulting in increased efficiency, enabling the manufacturer to
reduce its carbon footprint while increasing operational
efficiencies. The microturbines will be installed in a
highly-efficient trigeneration application and supply energy in
three forms: electricity, heat and chilled water. The application
provides the best economic value to the customer and is designed to
lower energy costs, increase resiliency and reduce greenhouse gas
emissions.
“Cal Microturbine is extremely excited about the piqued interest
and recent influx of Capstone microturbine's we've secured this
year for California businesses,” said Ryan Brown, Chief Executive
Officer at Cal Microturbine. “It seems that energy savvy businesses
from all industries continue to see the value of incorporating
Capstone Green Energy microturbines; to provide self-sufficient,
clean, reliable, and low-cost power to their operation.”
“This order launches Cal Microturbine to a combined 8,240 kW of
sold Capstone units to date in calendar 2022. And we are thrilled
with the opportunity to continue our pilgrimage of converting as
many businesses to Capstone Green Energy microturbine systems as
possible for the advancement of their companies and the planet,”
concluded Brown.
After a thorough analysis comparing various distributed
generation technologies, operators ultimately chose low-emission
Capstone microturbines as the ideal solution for their scalability,
resiliency, and ability to reduce energy costs. In addition,
Capstone's microturbine technology can be deployed in a number of
weeks as opposed to months or years and at a cost typically lower
than the local grid.
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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