Eco-Friendly, Energy Efficient System Will
Provide Prime and Emergency Backup Power
Capstone Green Energy Corporation (NASDAQ: CGRN), a global
leader in carbon reduction and on-site resilient green
Energy-as-a-Service (EaaS) solutions, announced today that its
exclusive distributor for the Mid-Atlantic, Southeastern U.S. and
the Caribbean, E-Finity Distributed Generation, won an order for a
C1000S system from TCR2 Therapeutics, a biomedical research and
development company providing novel T-cell therapies for the
treatment of various cancers.
The one megawatt (MW) order demonstrates the continued expansion
of the low emission microturbine market in the commercial,
industrial, and manufacturing space. The facility is expected to be
commissioned in January 2023.
The energy project is part of the Massachusetts-based company's
plans to establish an 85,000 square-foot cell therapy manufacturing
facility in Rockville, Maryland. The new Combined Cooling Heat and
Power (CCHP) system, fueled by natural gas, will feature a C1000S
natural gas-fueled dual-mode system configured with multiple 200
kilowatt (kW) microturbines; Capstone integrated HRMs; and an
E-Finity m-TIM Controller with comprehensive remote monitoring
ERMS. The ERMS will monitor and control a 300-ton absorption
chiller and all five HRMs to help ensure peak performance and
system output. In the event of a utility outage, the system will
immediately provide emergency backup power for critical loads on
site.
This is the first facility of its type for TCR2, and the first
energy system application of its kind in the United States. Some
key reasons the company selected the Capstone Green Energy system
include the degree of power reliability inherent with the multiple
200 kW units, the technology's extremely low emissions, high
efficiency, and low noise levels. The system also qualified for
financial support from PEPCO and Maryland Energy Administration CHP
grants, which will reduce the company's capital expenditures and
shorten the project payback period.
"Reliability is critical for this project," said Tom McGeehan,
Vice President of Sales for E-Finity. "Any disruption to power can
cost lives. Having the redundancy of the five 200 kW modular
turbines that can operate independently of each other and in
parallel are key. It is important that if one turbine is shut down
for maintenance, the other four will continue to provide
power."
"It is very gratifying to partner with E-Finity to build and
operate a trigeneration system such as this one for TCR2
Therapeutics – a solution that will provide them with essential,
reliable, environmentally-friendly, cost-effective power in support
of their inspirational and life-saving work," said Darren Jamison,
President and Chief Executive Officer of Capstone Green Energy.
"Mission-critical applications like these are Capstone's specialty
by giving company's peace of mind and the kind of energy
independence that helps further the growth of their business."
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 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 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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