Capstone Green Energy (NASDAQ:CGRN) Wins Multiple Contracts With Wastewater Treatment Plants in Austria and Germany
Capstone Green Energy Corporation (NASDAQ:CGRN) announced it secured orders for microturbines from customers in Austria and Germany for industrial and wastewater treatment plants. The orders include eight C65 Microturbines and five C30s, primarily running on biogas, thus reducing emissions and fuel costs. Additionally, customers signed 5- or 10-year service contracts under the Factory Protection Plan for fixed maintenance costs. The company's CEO highlighted a rebound in the European market, indicating increased interest in energy solutions.
- Secured orders for 13 microturbines (8 C65s and 5 C30s) from clients in Austria and Germany.
- Contracts expected to enhance energy reliability and reduce emissions.
- 5- or 10-year service contracts signed, fixing maintenance costs for clients.
- None.
VAN NUYS, CA / ACCESSWIRE / July 28, 2021 / Capstone Green Energy Corporation(www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), formerly Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) ("Capstone" or the "Company"), announced today that it received orders for several different customers in Austria and Germany to provide its microturbines as part of upgraded and expanded systems at multiple industrial and wastewater treatment plants. The orders, secured by long-time Capstone distributor Wels Strom, are expected to provide reliable, low maintenance energy for these critical infrastructure sites, several of which are repeat Capstone customers.
A total of eight C65 Microturbines and five C30s have been ordered. Five of the C65s will run on biogas and three on natural gas, while the C30s will all run on biogas. Because biogas is a waste byproduct that would otherwise need to be flared at these sites, the systems are expected to reduce emissions, while also saving on fuel costs.
In addition to the microturbine purchases, several customers have already signed 5- or 10-year service contracts provided by Capstone's Factory Protection Plan (FPP). Through the FPP, maintenance costs are fixed, and both planned and unplanned repairs are covered for the life of the contract, thereby maintaining high performance and limiting long-term system costs.
"One of the big lessons of the global pandemic for these kinds of critical infrastructure sites was that they needed to operate without interruption, and often with limited personnel," said Leopold Berger, Head of Energy Systems at Wels Strom. "So when it came to reliability and remote monitoring capabilities, Capstone Green Energy was the ideal choice," added Mr. Berger.
"These orders are a healthy sign that our market is starting to rebound in Europe, in this case, specifically, Austria and Germany," said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. "As we work with prospective customers on their near-term and long-term energy goals, we're finding that there is greater interest in finding solutions that address both the issues of power security and the environment. For those reasons, wastewater treatment facilities are prime candidates for these types of system upgrades," 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 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
View source version on accesswire.com:
https://www.accesswire.com/657346/Capstone-Green-Energy-NASDAQCGRN-Wins-Multiple-Contracts-With-Wastewater-Treatment-Plants-in-Austria-and-Germany
FAQ
What orders did Capstone Green Energy announce on July 28, 2021?
What is the significance of the recent contracts for CGRN?
How are the microturbines ordered by Capstone expected to operate?
What maintenance plans did clients sign regarding the new microturbines?
