Reliability, Fuel-Flexibility and Lower
Carbon Emissions Factored into Purchase Decision
Capstone Green Energy Corporation (NASDAQ: CGRN) announced that
Optimal Group, Capstone’s authorized distributor in Australia, New
Zealand, the Republic of Fiji and Papua New Guinea, received an
order for a C800 Signature Series microturbine to power a remote
oil and gas site and provide ancillary power to a compressor
station. This is the fifth microturbine order from this customer
and is expected to be commissioned in October 2023.
Australia, like many other countries, is seeking to decarbonize,
and the Australian oil and gas industry is working to do its part.
Capstone's green energy solutions align perfectly with the needs of
the oil and gas industry and are currently used in all phases of
production including upstream, midstream, and downstream operations
in both onshore and offshore applications.
“Capstone microturbines are popular with energy producers for a
reason. Our microturbines are known for their reliability and low
maintenance requirements, in addition to a low carbon profile, all
of which are essential for our customers who operate remote oil and
gas sites, often in harsh conditions. In addition, the turbines can
run on different types of fuel which can be particularly appealing
at drilling sites,” said Darren Jamison, President and CEO of
Capstone Green Energy.
“Many of the world’s largest energy companies are posting record
2022 profits, following a year of volatile fossil fuel prices amid
Russia’s war in Ukraine. This is creating an increase in proposal
activity for us in our oil and gas markets internationally, like
today’s follow-on order from Australia and here at home, which is
illustrated by the recent follow-on order from a leading U.S. oil
and gas producer in the Marcellus Shale Play that added to its
extensive fleet of Capstone systems,” added Jamison.
Capstone microturbines offer flexible, responsive power
generation that can easily adjust to fluctuating or seasonal energy
demands, reducing fuel usage and maintaining high levels of
efficiency. This helps customers meet their environmental goals and
be climate-friendly leaders.
“This is the fifth Capstone microturbine order from this
customer, having been selected to drive emissions reductions and
improve reliability for remote, unmanned locations in some of the
harshest regions on the planet. Modular Capstone C1000 series
turbines enable each site to be supplied with a uniform package,
but tailored to each site’s maximum power demand,” said Kane
Ravenscroft, Sales and Marketing Director for Optimal Group. “As
the power demand fluctuates seasonally, this provides the
capability to switch off excess modules, conserving fuel and
cutting emissions.”
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 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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version on businesswire.com: https://www.businesswire.com/news/home/20230203005117/en/
Capstone Green Energy Investor and investment media inquiries:
818-407-3628 ir@CGRNenergy.com
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