Low Emission Energy System Will Provide
Year-Round Heat and Power in Parallel with Utility
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 its Alaska
distributor, Arctic Energy, Inc., has secured an order for five
Capstone 65 kilowatt (kW) integrated heating and power (ICHP)
dual-mode microturbines. The system was purchased by a waste
management facility that is part of the Municipality of Anchorage.
It will provide both heat and power for all the facility's critical
infrastructure required to operate the site, even during extreme
winter weather conditions.
Fueled by natural gas, the microturbine-based energy array will
run in "multi-pack," providing 325 kW of power as it operates
primarily in parallel with the local utility. Using Capstone's
automatic dual-mode capabilities, the system will be able to
automatically switch to standalone backup power in the event of a
local grid failure. The system is expected to be commissioned in
September 2022.
The customer pursued the new power system as part of its plan to
expand one of its main facilities. This presented an opportunity to
establish new energy efficiencies that had not previously been part
of the site. After considering solar and battery storage options,
it was determined that a combined heat and power or CHP system
would be the most reliable and economical solution. Though solar
and battery integration will be possible in the future, they will
not be part of the current configuration.
Once the customer decided on what kind of power system they
would implement, they ultimately chose Capstone's technology for
its simplicity of design and installation, high efficiency, low
noise impact, and minimal maintenance needs. Even as other system
features were removed from the design for cost needs, the Capstone
units remained.
Overall, the system will help the municipality reduce costs by
providing a hedge against rising utility rates. Cost reduction will
also be achieved through the inherent efficiency of the CHP system
and the high reliability/low maintenance qualities of the
microturbines. Arctic Energy provided essential support to the
customer in calculating the economics and handling the project
design.
"Arctic Energy is proud to be part of the municipality’s energy
savings and management progress," said Greg Porter, President of
Arctic Energy. "Municipalities employ many people and at the same
time must plan for rising infrastructure costs. In Alaska, those
costs are paid for by property taxes. So it's more important than
ever that Municipalities look at energy reduction and savings to
retain good employees and reduce the operating costs for future
expansion."
"Municipalities have tremendous opportunity to leverage the cost
efficiencies and reliability of CHP, especially in light of growing
constraints on the utilities," said Darren Jamison, Chief Executive
Officer of Capstone Green Energy. "Beyond these benefits, there are
also the environmental benefits of running a highly efficient
system. These are the kind of wins that give constituents
confidence that their local leaders are truly looking after their
best interests."
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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