Capstone Green Energy to Provide Highly Efficient 1.2 MW Power Generation Solution to Illinois Natural Gas Storage Facility
June 13 2022 - 8:00AM
Business Wire
Ultra-Low Emissions and Low Maintenance Were
Key Factors in Microturbine Selection
Capstone Green Energy Corporation (NASDAQ: CGRN), a global
leader in carbon reduction and on-site resilient green energy
solutions, announced that Vergent Power Solutions, Capstone's
distributor for the Midwest, New England and Eastern Canada, has
secured an order for a 1.2 megawatt (MW) energy system for a
northern Illinois gas utility company at their natural gas
facility.
Facing the challenges of powering the site with aging
traditional reciprocating engines, the client looked for a more
reliable, lower maintenance, and greener energy solution. The new
solution, which features two Capstone C600 Signature Series
microturbines fueled by the facility's available high-pressure
natural gas, will be the site's only source of electricity,
providing standalone power around the clock once it is commissioned
in the fall of 2022. A significant factor in the client’s decision
to select Capstone microturbines is the system’s ultra-low emission
and quiet operation, enabling them to improve their environmental
footprint.
"Gas utilities can be at the forefront of lowering emissions of
the country's energy supply, in the same fashion as electric
utilities that are adding low-carbon power generation to the power
grid," said Justin Rathke, President of Vergent Power Solutions.
"Vergent Power is focused on delivering clean energy solutions that
also enable firm energy supply, which is desperately needed to
balance intermittent renewable energy production and maintain grid
stability. This prime power natural gas system is another example
of Vergent Power's low-carbon energy solutions that also includes
efficient cogeneration and trigeneration, resilient microgrids,
biogas to energy, and renewable natural gas," added Mr. Rathke.
"More and more, utilities are finding that Capstone
microturbines are an ideal, cost-effective power solution,
particularly where there is an existing on-site fuel source," said
Darren Jamison, Chief Executive Officer of Capstone Green Energy.
"These systems are also an important step in helping the oil and
gas industry make positive environmental changes, which is good for
the company, their communities, and the planet," concluded Mr.
Jamison.
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.
SOURCE: Capstone Green Energy Corporation
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version on businesswire.com: https://www.businesswire.com/news/home/20220613005338/en/
Capstone Green Energy Investor and investment media inquiries:
818-407-3628 ir@CGRNenergy.com
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