Capstone Green Energy (NASDAQ:CGRN) Receives Two Orders for Innovative Carbon-Neutral Renewable Energy Systems
Capstone Green Energy Corporation (NASDAQ:CGRN) has received two orders for its externally fired microturbines to enhance carbon-neutral power generation. These systems, developed with partner Professor Dr. Berg & Kießling GmbH, will be installed at a metal processing plant and a municipal utility in Germany. The ClinX system for the processing plant will provide 80% of its electrical needs, utilizing sustainably sourced wood chips. The second order will upgrade an existing system using heterogeneous biomass to generate 100% of electricity for the municipal utility. Both systems are expected to be operational by early 2022.
- Received two orders for innovative carbon-neutral energy systems.
- The ClinX system at a metal processing plant will supply 80% of electrical needs and 100% of heat requirements.
- Utilizes renewable fuels like sustainably harvested wood chips and waste biomass for energy generation.
- Demonstrates alignment with strict environmental goals benefiting customer bidding capabilities.
- None.
New Systems will Supply Cost-Effective, Clean Generating Power Using Innovative Biomass Fuels to Provide a Carbon-Neutral Solution
VAN NUYS, CA / ACCESSWIRE / September 23, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that it has received two orders for externally fired microturbines through its global energy conversion partner, Professor Dr. Berg & Kießling GmbH (B+K) as the generating component within the company's innovative ClinX system.
The first ClinX system is for a metal processing plant in Brandenburg, Germany. The externally fired Capstone C65 will be part of a Combined Heat and Power (CHP) system that is expected to provide
The second system is part of an upgrade to an existing system currently installed at a municipal utility in Hessen, Germany. The upgraded CHP system will feature a Capstone C200 and use a variety of waste products (heterogeneous biomass) as a fuel by way of a pyrolysis process. Not only should the self-sufficient energy system generate
Both systems are expected to be commissioned in early 2022.
"In the case of the metal processing plant, the shift to
"Clearly, there are enormous upsides to carbon-neutral projects like these, and new partners like B+K are critical to the expanded solutions-based business model we launched on Earth Day earlier this year," said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. "Whether we're talking about leveraging sustainable and renewable sources, waste byproducts, or hydrogen, fuel flexibility has always been at the very heart of our innovative microturbine technology. We're excited that these projects demonstrate to other entities and businesses that the path to a green energy future can and does align with their financial goals."
About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (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 Conversion Products 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 Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, 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
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.
CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com
SOURCE: Capstone Green Energy Corporation
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FAQ
What new orders has Capstone Green Energy Corporation (CGRN) announced?
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What is the expected electrical output for the ClinX system at the metal processing plant?