Capstone Green Energy to Provide Two 800 kW Microturbines for Southern California Oil Production Site
Capstone Green Energy Corporation (NASDAQ: CGRN) has announced a new order for a 1.6 MW microturbine solution designed for an oil production site in Southern California. The installation, set to be commissioned in Q2 2023, will enhance power reliability and reduce emissions. The project includes two natural gas-fueled C800 microturbines and a Capstone Logic Controller, optimizing fuel efficiency by using waste gas from oil extraction. This move aligns with Capstone’s commitment to delivering eco-friendly energy solutions in challenging environments.
- Secured an order for a 1.6 MW microturbine solution, demonstrating customer demand.
- Expected commissioning in Q2 2023, indicating timely project execution.
- Utilization of waste gas reduces emissions, supporting environmental goals.
- None.
Customer Prioritized Reliability and Low Emissions in Choosing Capstone Technology
"Every industry has its own specialized power requirements. For energy producers, much of the available oil and gas extraction means working in remote locations in complex environments, where grid power is either unreliable or nonexistent," said
The new installation will feature two natural gas-fueled Capstone C800 Signature Series microturbine energy systems. It will also include a Capstone Logic Controller (CLC), which provides a single control interface and dispatch options to maximize control and efficient site operation. With their fuel flexibility, the microturbines will be configured to use the gas byproduct of the oil production as a fuel, thus reducing the need for gas flaring.
While power reliability was a critical factor in the microturbine selection, the customer was primarily interested in reducing site emissions. Not only is the microturbine technology extremely efficient, but repurposing the waste gas keeps it from entering the atmosphere, thereby reducing the emissions contributing to climate change.
"Cal Microturbine values the trust our oil and gas customers place in us to help them achieve their environmental goals while ensuring their power security needs are met," said
About Cal Microturbine
Cal Microturbine is a Capstone Green Energy Authorized Distributor headquartered in
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 the Company's target for growth of its rental fleet 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 sufficiency of the Company's working capital to meet its rental fleet growth target; 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20221005005248/en/
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com
Source:
FAQ
What recent order did Capstone Green Energy Corporation (CGRN) secure?
When is the Capstone microturbine solution expected to be commissioned?
What are the environmental benefits of the new microturbine installation by CGRN?