Capstone Green Energy (NASDAQ:CGRN) To Power Groundbreaking Tire Recycling Plant in Scotland

Rhea-AI Summary

Capstone Green Energy Corporation (NASDAQ:CGRN) announced the order of four C1000 Signature Series microturbines for the first tire recycling plant in Scotland. This groundbreaking facility, covering 10 acres, will utilize five microturbines to produce 5MW of clean power, enhancing carbon reduction efforts. The project aims to save more than one million tons of carbon emissions annually, facilitating Scotland's net carbon goals. The collaboration includes SSH Recycling and ICDP Architects, highlighting innovative energy solutions to repurpose used rubber efficiently.

Positive

• Order for four additional C1000 microturbines enhances the capacity of a pioneering tire recycling plant in Scotland.
• Projected annual carbon emissions savings of over one million tons support environmental targets in Scotland.
• Partnership with SCE Energy and industry experts reinforces Capstone's leadership in green technology.

Negative

• None.

Five C1000S Microturbines Will Provide 5MW of Clean and Green Power for the Ten Acre Recycling Plant

VAN NUYS, CA / ACCESSWIRE / November 1, 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 SCE Energy (scengy.com), Capstone's exclusive distributor in Scotland and Northern United Kingdom, secured an order for four C1000 Signature Series microturbines for a groundbreaking tire recycling plant in Scotland. This order adds to last year's first C1000S order at the site and will see a total of five microturbine systems installed at the 4.2 hectare, or approximately 10 acre, tire processing facility.

This order is the first of its kind in Scotland and the largest in the United Kingdom (UK). The plant would be a UK first to devulcanise treated rubber to produce new products that include sheets, conveyor belts, shoe soles or rubber mats. The process is a better way of repurposing used rubber and will see every part of the waste tire broken down to be recycled or reused.

The cogeneration system will use low pressure natural gas to provide electricity and combined heat and power (CHP). The visionary project is a collaboration between SSH Recycling, ICDP Architects and SCE Energy.

"Capstone Green Energy, in partnership with SCE Energy, ICDP Architects and SSH Recycling, has designed a low emission and highly efficient CHP system to drive cost and carbon savings in this environmentally significant tire recycling operation," said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. "In my opinion, this creative solution is nothing short of brilliant." concluded Mr. Jamison.

"This is a groundbreaking project which will save over one million tons of carbon emissions annually and help Scotland reach its net carbon target," said Willy Findlater, Lead Consultant and Project Manager for ICDP Architects.

The clean exhaust from the microturbines will be captured via heat exchangers and will provide heat and hot water to the processing plant, process equipment, storage buildings and offices. Not only is the system's high efficiency expected to lower operating costs from their current cogeneration system, it will also provide environmental benefits by reducing carbon emissions.

Strict environmental challenges set by various government bodies gave the Capstone's low emission microturbines a sizeable advantage over alternative technologies and equipment. Capstone microturbine systems dramatically reduce both criteria pollutant emissions and carbon emissions through use of low- or no-carbon generation, improved efficiency, reduced fuel needs and/or use of waste streams as fuel.

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 $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy 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.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

View source version on accesswire.com:
https://www.accesswire.com/670494/Capstone-Green-Energy-NASDAQCGRN-To-Power-Groundbreaking-Tire-Recycling-Plant-in-Scotland

FAQ

What is the significance of Capstone Green Energy's order for C1000 microturbines in Scotland?

This order will power the first tire recycling plant in Scotland, enhancing its capacity to recycle and reduce carbon emissions.

How much carbon emissions will the tire recycling plant save annually?

The project is expected to save over one million tons of carbon emissions each year.

What is the total output power of the microturbines being installed at the recycling plant?

The microturbines will collectively provide 5MW of clean energy.

When was the announcement made regarding the microturbine order for the recycling plant?

The announcement was made on November 1, 2021.