Capstone Green Energy Secures Additional Energy-as-a-Service Contract from a Large West Texas Oil Producer
Capstone Green Energy Corporation (NASDAQ: CGRN) has secured a new contract with a West Texas energy company through its distributor, Lone Star Power Solutions. This agreement follows a previous 3.6 MW Energy-as-a-Service (EaaS) contract and involves providing an additional C800S microturbine.
The EaaS model is gaining traction as it allows customers to manage capital investments while ensuring reliable, low-emission energy. Capstone's offerings have reportedly reduced emissions by 90% compared to previous solutions, while also providing predictable revenues for the company. As of FY22, the company saved clients over $213 million in energy costs and 388,000 tons of carbon emissions.
- Secured a new contract for an additional C800S microturbine, indicating strong demand for EaaS solutions.
- Established repeat orders from core industry segments such as oil and gas, as well as new markets like EV charging providers.
- Reported 90% lower emissions compared to previous solutions, enhancing its value proposition.
- Estimated savings for customers exceeded $213 million in energy costs in FY22.
- None.
Repeat Orders from Long-Term Customers Continue to Build Capstone’s Higher Margin Energy-as-a-Service Portfolio
“Our new and existing customers continue to find value in our EaaS rental offerings. We are seeing repeat orders from core industry segments like oil and gas while also expanding interest from new areas like Electric Vehicle (EV) charging providers. EaaS is proving itself to be a win-win solution as it meets the Capstone customer need to manage capital investment while delivering reliable, lower emissions energy, and it meets Capstone’s need for higher margins and predictable revenues and cash flow,” said
The large
“Capstone’s market-leading emissions and reliability are features our customers value,” said
About
To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22, it saved customers over
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com.
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow
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 growth expectations 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 departures and other changes in management and other key employees. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the
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