Capstone Green Energy Receives Follow-on Order for Multiple Microturbine Systems for Marcellus Wellhead Sites
April 13 2022 - 8:00AM
Business Wire
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 E-Finity Distributed
Generation, Capstone’s exclusive distributor for the Mid-Atlantic,
Southeastern United States and the Caribbean, has secured an order
for ten C65 microturbine systems, to be deployed at various oil and
gas wellhead sites in the Marcellus Shale region. The systems will
be added to an extensive fleet and commissioned as needed through
2023.
The natural gas-fueled microturbine systems will provide prime
power 24/7 for various sites across the Marcellus reserve. The
microturbines will allow the customer to increase on-site power
production, lower operational costs and increase reliability. In
addition, the dual-mode 65 kilowatt (kW) systems will provide the
electrical power required to operate various buildings, including
lighting, meters, and other equipment.
“Facing growing pressure to address climate change, global
energy companies are pledging like never before to adapt to a
lower-carbon future. For many, that involves investing in new
technologies and infrastructures like microturbine systems to
support new, greener ways of generating on-site electricity,” said
Darren Jamison, President and Chief Executive Officer of Capstone
Green Energy. “These are the key areas in which Capstone Green
Energy has built its business and where it continues to innovate
and grow its Energy-as-a-Service (EaaS) business. We saved
customers an estimated 1,115,100 tons of carbon and $698 million in
annual energy savings over the last three years, and we are just
getting started.”
Capstone's low-emission, oil-free microturbine systems play a
crucial role in ensuring the continued development of these rich
shale plays. Because microturbine emissions are considerably lower
than traditional internal combustion engines, it is easier for
operators to meet increasingly stringent emission requirements.
“Having our customers place repeat orders with us is a true
testament to the reliability of the Capstone microturbine systems
and their ability to operate in very harsh, unforgiving Appalachian
conditions,” said Jeff Beiter, President, E-Finity Distributed
Generation. “E-Finity now boasts an oil and gas fleet that exceeds
500+ operating units providing our customers with power when and
where they need it.”
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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