Capstone Green Energy Continues Its Success in the EaaS Market With a 1 MW Order From a Global Oil and Gas Company
Capstone Green Energy Corporation (NASDAQ: CGRN) announced a new order for a C1000S microturbine rental package, contributing to more than 50 MW in total Energy-as-a-Service (EaaS) contracts. This package will be deployed in an Ecuadorean oil field by early April, aimed at replacing a diesel generator. The microturbine will generate clean electricity using associated gas from the pipeline, providing 100% of the site's electricity needs. This technology improves reliability, reduces operational costs, and minimizes flare emissions, making it a sustainable choice for oil and gas operators.
- Secured order for C1000S microturbine, increasing EaaS contracts to over 50 MW.
- Microturbines will replace high-maintenance diesel generators, enhancing operational efficiency.
- Capstone's technology reduces operational costs and flare emissions significantly.
- None.
Order Pushes Total EaaS Rental Contracts to More Than 50 MW
“This recent order for a Capstone microturbine in
The 1 MW solution will be installed in a remote oilfield in the Ecuadorean jungle and will replace an existing diesel generator and produce clean and reliable electricity using associated gas directly from the pipeline. The power generated by the microturbines will provide 100 percent of the electricity needed to power on-site surface production equipment and the pump station.
The oilfield operators selected Capstone’s microturbine technology for its high reliability in the field as well as their ability to significantly reduce operational costs and flare emissions. Operators wanted a modular, reliable, and cost-effective solution to replace their high-maintenance genset. The microturbines, which have only one moving part and use no lubricants, are a low-maintenance solution, which is a key benefit given the site’s remote location.
“Capstone microturbine solutions are an ideal choice for oil and gas operators due to their low maintenance and high reliability. Microturbines can use associated natural gas as an input fuel source with minimal gas pre-treatment. This allows oil and gas customers to monetize the associated gas, keep operational costs low by avoiding extra fuel-cleaning equipment, and reduce any negative impact on the local environment,” concluded
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
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This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding growth and liquidity expectations 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 departures and other changes in management and other key employees. 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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