Capstone Green Energy Lands an Energy as a Service Contract With One of the Largest North American Energy Infrastructure Companies
Capstone Green Energy Corporation (NASDAQ: CGRN) has expanded its Energy-as-a-Service (EaaS) business with a new 600 kW microturbine-based rental contract for one of North America's largest energy infrastructure firms. This six-month agreement represents the company's sixth order from this customer, emphasizing its commitment to environmentally friendly and reliable energy solutions. The microturbine system will power remote operations along a Colorado pipeline and includes Capstone's Factory Protection Plan for maintenance support. Capstone aims to enhance its revenue diversification through EaaS.
- Secured a 600 kW microturbine rental contract with a major North American energy customer.
- Represents the sixth contract with this customer, indicating strong demand for Capstone's solutions.
- System expected to enhance reliability in remote operations, aligning with customer sustainability goals.
- The EaaS model is diversifying revenue streams and reducing operational complexities.
- None.
Eco-friendly, Energy Efficient System Will Provide Reliable,
The minimum 6-month EaaS agreement is the sixth such system utilized by this oil and gas customer, reflecting the Company's interest in high reliability, more environmentally friendly power solutions for its operations. As an oil-free, low-maintenance power generating source, microturbine-based systems are ideal for remote locations where reliability is key and on-site staff is minimal or non-existent.
The contract, secured by
During the last fiscal year, in order to become a global partner in carbon reduction and on-site resilient green energy solutions,
"Our customer was already familiar with
"This month, Capstone enters fiscal 2023 well positioned as an Energy-as-a-Service provider of high efficiency, low emission power generation products that enable customers to lower their energy costs, increase their power resilience, and reduce their carbon emissions," said
About
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
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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