Low-emission, Natural Gas-fueled Solution
Supports Customer’s Reliability and Environmental Goals
Capstone Green Energy Corporation (NASDAQ: CGRN), a global
leader in carbon reduction and on-site resilient green energy
solutions, announced that Horizon Power Systems, Capstone's
exclusive distributor for the Rocky Mountain States, Oklahoma,
Arizona, and Western Provinces of Canada, has secured an order for
two C200S high-pressure natural gas systems from a Canadian firm
that provides mobile power to upstream oil and gas sites.
"With climate change becoming a larger factor in business
strategy, the oil and gas industry is looking for cleaner,
cost-effective, and reliable power alternatives," said Darren
Jamison, President and Chief Executive Officer of Capstone Green
Energy. "Capstone's microturbine technology provides a significant
opportunity to help companies in any number of industries do better
for the environment while maintaining their bottom line with
cost-effective solutions," added Mr. Jamison.
Committed to leading the industry away from higher emission
diesel power, the customer selected Capstone's microturbine
technology for its low-emission, high-efficiency performance using
clean-burning natural gas as a fuel. Other important factors
included the systems' high reliability and low maintenance
requirements, particularly in remote, off-grid locations. The
microturbines can also be easily integrated into utility power or
microgrids where and when needed, given their range of power
outputs. Eliminating the need to truck diesel fuel into well sites
reduces costs and lowers emissions, while the microturbines' quiet
operation makes for a more pleasant environment.
The systems are expected to be operational in the third quarter
of 2022. This is the first order Capstone has secured where the
customer purchased the microturbine units to rent to its own oil
and gas customers. The units will likely be installed at remote
well sites and are sufficiently rugged and reliable for use in
harsh Canadian weather conditions and environments.
"Our customer is committed to providing clean and reliable
mobile power fueled by natural gas rather than environmentally
unfriendly diesel," said Sam Henry, President of Horizon Power
Systems. "Capstone clean energy microturbine-based systems are the
ideal power source to help the company fulfill its promise to
customers," concluded Mr. Henry.
About Horizon Power Systems
For over 20 years, Horizon Power Systems has worked exclusively
with Capstone Green Energy to provide microturbine systems across
the Rocky Mountain region in the United States and Western Canada.
Its approximately 800 installed microturbines have logged millions
of documented runtime operating hours. The Horizon Power System's
team takes a total systems approach when determining a client's
energy requirements to provide an engineered microturbine power
system that fulfills unique energy needs. The company specializes
in combined heat and power systems, trigeneration, microgrid power,
and prime power.
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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version on businesswire.com: https://www.businesswire.com/news/home/20220617005091/en/
Capstone Green Energy Investor and investment media inquiries:
818-407-3628 ir@CGRNenergy.com
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