Capstone Green Energy (NASDAQ:CGRN) to Provide Its 600kW Energy Efficiency System to Alabama Hospital
Capstone Green Energy Corporation (NASDAQ:CGRN) announced a contract via its distributor, Lone Star Power Solutions, to install a 600kW Combined Heat and Power (CHP) system at a major hospital in Alabama, expected to launch in Spring 2022. The microturbine-based system will utilize low-pressure natural gas and produce both electricity and hot water, enhancing energy efficiency. This initiative aims to lower operational costs and reduce greenhouse gas emissions, comparable to removing 245 cars from the road annually.
- Secured a contract for a 600kW CHP system to be installed in a major hospital.
- Expected to significantly reduce operational costs for the hospital.
- Will contribute to environmental sustainability by reducing greenhouse gas emissions.
- None.
Highly Efficient Combined Heat & Power System Will Provide Both Electricity and Hot Water
VAN NUYS, CA / ACCESSWIRE / December 21, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), ("Capstone," the "Company," "we" or "us"), a global leader in carbon reduction and on-site resilient green energy solutions, today announced that its central and southern U.S. distributor, Lone Star Power Solutions (www.lonestarpowersolutions.com), has secured a contract to provide a highly reliable and energy-efficient Combined Heat and Power (CHP) clean energy system to a major hospital in Alabama expected to be commissioned in the Spring 2022.
The 600kW microturbine-based energy system will be fueled by low-pressure natural gas (LPNG) and will run in parallel with the local area grid providing supplemental power for the hospital's needs. The highly efficient energy system will be configured to repurpose the waste heat produced by the microturbine for the hospital's hot water requirements.
Beyond supporting the power needs of a critical hospital facility, the new clean energy system provides a hedge against rising utility costs. This, along with the system's high efficiency, will ultimately reduce the facility's operational costs. Likewise, the system offers environmental benefits, including an estimated reduction in greenhouse gas emissions roughly equivalent to removing an estimated 245 cars from the road annually.
"We continue to experience increasing interest in Capstone Green Energy portfolio products," said Doug Demaret, President of Lone Star Power Solutions. "Our relationship with Capstone makes Lone Star unique in our ability to provide completely integrated on-site clean energy solutions for customers that have sophisticated energy requirements. We are glad to be able to offer tailored solutions to meet their economic, operational, and environmental goals."
"There are few energy solutions out there that can deliver the kind of reliability and security that microturbines provide to power-critical sites like hospitals," said Darren Jamison, Chief Executive Officer of Capstone Green Energy. "When you factor in the cost benefits and environmental factors, you have a complete solution that improves the bottom line, strengthens service delivery, and reduces environmental impact. Utilizing a Capstone clean energy system is a truly ideal strategy for hospitals," concluded Mr. Jamison.
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 Generation Technologies (EGT) 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 Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), 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 is the significance of Capstone Green Energy's new contract with a hospital in Alabama?
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What financial benefits does the CHP system offer to the Alabama hospital?
