Capstone Green Energy Achieves Target of 50 MW Under EaaS Rental Contract With a New 5 MW Order From a West Texas Oil and Gas Customer
Capstone Green Energy Corporation (NASDAQ: CGRN) announced a long-term rental order for five C1000 Signature Series microturbines through its exclusive distributor in Texas, Lone Star Power Solutions. This order adds to Capstone's Energy-as-a-Service (EaaS) offerings, increasing total contracted capacity to approximately 50 MW—fulfilling its goal by March 31, 2023. The microturbines will enhance operational reliability and lower greenhouse gas emissions at a West Texas oil and gas site, with commissioning expected in May. Capstone’s EaaS model is driving demand with benefits such as predictable revenues and positive cash flow.
- Secured long-term rental order for five C1000 microturbines, enhancing market presence.
- Achieved total EaaS contracts of approximately 50 MW, up from 26 MW in less than a year.
- EaaS model contributes to higher margin rates and predictable revenues.
- None.
Reliability and Lower Carbon Emissions Factored Into Rental Decision
The new 5 MW EaaS rental contract pushes Capstone Green Energy’s total EaaS contracts to approximately 50 MW, which achieves the Company’s stated goal of 50 MW under contract by
“Capstone’s EaaS business model continues to drive customer demand for our products, as demonstrated by this order. The oil and gas industry have seen the benefits of Capstone microturbines for many years, and renting units through our EaaS approach makes adopting our technology even easier,” said
Capstone microturbines are used across oil and gas applications – upstream, midstream, and downstream because they offer flexible, responsive power generation that can easily adjust to fluctuating or seasonal energy demands, reducing fuel usage and maintaining high levels of efficiency. They can also be powered by on-site production gas, like these units will be, eliminating the need for a secondary fuel source. This helps Capstone customers meet their environmental and operational goals.
“This customer approached us with the challenge of improving operational reliability while at the same time reducing their greenhouse gas emissions,” said
About
To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22, it saved customers over
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com.
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow
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
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FAQ
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