Capstone Green Energy (NASDAQ:CGRN) to Provide its 600kW Energy Solution System to a Food Processing Facility in Mali

Rhea-AI Summary

Capstone Green Energy Corporation (NASDAQ:CGRN) has secured an order for a 600 kW energy solution system to be installed at a food processing facility in Bamako, Mali, expected to be operational by May 2022. This system will utilize liquefied petroleum gas (LPG) as a cleaner and cost-effective alternative to diesel, addressing power reliability issues. Capstone aims to leverage its technology to reduce energy costs and environmental impact, emphasizing its focus on enhancing energy efficiency in various global markets.

Positive

• Secured an order for a 600 kW energy system, enhancing market presence.
• The use of LPG promotes cost savings and environmental benefits over diesel.
• Capstone systems address reliability issues, reducing power outages and operational losses.

Negative

• None.

On-site Power System Will Be Less Expensive, More Reliable & More Environmentally Friendly

VAN NUYS, CA / ACCESSWIRE / December 29, 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 it has received an order for a 600 kilowatt (kW), C600S energy solution system, to be installed at a remote food processing facility in Bamako, Mali. The order was secured through the Capstone Green Energy Direct Sales Solutions Team. The system, which will provide power to the site's all-electric equipment, is expected to be commissioned in May 2022.

Like many land-locked countries, Mali relies on expensive, "dirty," fuels like diesel and heavy fuel oil. By contrast, the Capstone energy system will use liquefied petroleum gas (LPG), which is a less expensive and more environmentally-friendly fuel alternative.

"This project serves as a model for other industrial customers and power companies, showing they can quickly benefit from LPG as an alternative fuel," said Gorgui Ndoye, Business Development Director for Capstone Green Energy. "There is growing interest in LPG in many regions around the globe, especially in Africa, South America, the Caribbean, and some parts of Asia, where availability of the fuel has increased significantly in the past ten years."

Since Capstone microturbine green energy systems are highly reliable, the on-site system will also address issues of load shedding and blackouts the facility currently experiences with utility power. They also require very little maintenance compared to other on-site power technologies like diesel generators, which further improves power availability and cost savings.

"Food manufacturing facilities have among the greatest need for power reliability since outages can cause spoilage and lost product," said Darren Jamison, Chief Executive Officer of Capstone Green Energy. "That added operational security plus the significant cost savings in fuel can have a major positive impact on a company's bottom line. When the cleaner fuel and low emissions impact are also factored in, the benefits of microturbine-based, on-site power generation are undeniable."

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 $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated to be approximately $698 million in energy savings and approximately 1,115,100 tons of carbon 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/679989/Capstone-Green-Energy-NASDAQCGRN-to-Provide-its-600kW-Energy-Solution-System-to-a-Food-Processing-Facility-in-Mali

FAQ

What is the recent order received by Capstone Green Energy (CGRN)?

Capstone Green Energy has received an order for a 600 kW energy solution system to be installed in Bamako, Mali.

What fuel type will the new energy system use?

The energy system will use liquefied petroleum gas (LPG), providing a cleaner and cheaper alternative compared to diesel.

When is the Capstone energy solution system expected to be operational?

The system is expected to be commissioned in May 2022.

How does the Capstone energy solution benefit food processing facilities?

The solution improves power reliability and reduces operational losses from outages, which is crucial in food manufacturing.