Seven C65 Units will Replace Systems that
Reached 80,000 Hours of Operation
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 solutions, today announced that
its Japan distributor, Kanamoto (https://www.kanamoto.co.jp),
secured a contract to provide seven C65 microturbine systems to a
Japanese firm in the chemical industry.
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44 Capstone C65 CHP Systems Installed at
Chemical Plant in Japan (Photo: Business Wire)
Out of 44 Capstone units currently in operation at the Japanese
site, the new systems will replace seven units that have reached
80,000 hours of continuous service. The units were previously
covered by a 10-year Factory Protection Plan (FPP) that ended in
December 2021.
Fueled by high-pressure natural gas (HPNG), the new systems will
be designed to provide Combined Heat and Power (CHP), providing
maximum efficiency in the production process for which the power
will be used. At the same time, the waste heat produced by the
microturbines will be captured and used for drying processes
required by the chemical plant, a site that has been in operation
for 20 years.
The new systems are expected to be commissioned in July 2022.
This is the only installation in Japan where 44 units have been
installed in one location.
"The Capstone Green Energy microturbine's lightweight and
compact footprint met the customer's site requirements while using
the clean exhaust gas directly in the drying furnace, perfectly
matching the customer's thermal requirements," said Kanamoto's
manager, Atsushi Isono. "Despite the harsh environment in which
this continuous-duty application operates, the customer feels
confident in the long-term viability of the system due to the FPP
contract in place. The 80,000 hours of operation and FPP contract
is what allowed us to win a second end-of-life replacement
contract," added Mr. Isono.
"The implementation of a CHP system is an efficient,
cost-effective investment an industrial site can make to improve
its financial bottom line," said Darren Jamison, Chief Executive
Officer of Capstone Green Energy. "Add to that the increased power
reliability and environmental benefits of low maintenance,
clean-burning microturbines, and you have an energy strategy
designed to meet today's business challenges head-on," concluded
Mr. Jamison.
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 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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