Capstone Green Energy Corporation - CGRN STOCK NEWS

Capstone Green Energy Corporation (NASDAQ:CGRN) has received two orders for its externally fired microturbines to enhance carbon-neutral power generation. These systems, developed with partner Professor Dr. Berg & Kießling GmbH, will be installed at a metal processing plant and a municipal utility in Germany. The ClinX system for the processing plant will provide 80% of its electrical needs, utilizing sustainably sourced wood chips. The second order will upgrade an existing system using heterogeneous biomass to generate 100% of electricity for the municipal utility. Both systems are expected to be operational by early 2022.

Capstone Green Energy Corporation (NASDAQ:CGRN) has secured an order for 2.4 megawatts (MW) of C800 Signature Series microturbines for a major Caribbean resort redevelopment project. The project, facilitated by E-Finity Distributed Generation, aims to provide 100% of the resort's power by Spring 2022, significantly enhancing sustainability. Expected benefits include millions in annual electric cost savings and a substantial reduction in the resort's carbon footprint. The microturbines offer reliable, cost-effective, and eco-friendly energy solutions, and can be expanded to 3 MW to cater to future energy needs.

Capstone Green Energy Corporation (NASDAQ:CGRN) announced a virtual presentation at the H.C. Wainwright 23rd Annual Global Investment Conference scheduled for September 13, 2021, at 7:00 am ET. CEO Darren Jamison will provide updates on strategic initiatives and product offerings. Interested investors can access the presentation through the company's website or by registering online. One-on-one meetings with management are also available on September 13-14. Capstone aims to highlight its growth strategy and carbon reduction efforts during the event.

Capstone Green Energy (NASDAQ:CGRN) announced a partnership with Vergent Power Solutions to deliver a one-megawatt low-emission Combined Heat and Power (CHP) microturbine for a greenhouse expansion in Ontario, Canada. The C1000S microturbine will provide continuous power and is expected to achieve 90% system energy efficiency. It will utilize waste heat for hot water and carbon dioxide production, enhancing greenhouse operations. The system is set for commissioning in spring 2022, addressing rising energy demands in Ontario's greenhouse industry.

Capstone Green Energy Corporation (NASDAQ:CGRN) announces the retirement of Holly Van Deursen from its Board of Directors after 14 years, effective August 27, 2021. Ping Fu was elected as her successor during the Annual Meeting of Stockholders on August 27, 2021. Fu, an accomplished entrepreneur and former CEO of Geomagic, brings over 20 years of software industry experience and a strong background in innovation. This leadership change aims to enhance Capstone's strategies in the green energy sector, focusing on lowering emissions and providing resilient energy solutions.

Capstone Green Energy Corporation (NASDAQ:CGRN) has secured a contract with a Louisiana data center for the long-term rental of a C1000S microturbine system, aimed at utilizing waste gas as fuel. This rental boosts their fleet to 13.1 MW, targeting 21.1 MW by March 2022. The contract aligns with Capstone's Energy as a Service model, generating higher margins. The system offers operational savings and reduced emissions, supporting the growing cryptocurrency mining industry while providing a reliable energy alternative amidst strained utility grids. The system is expected to be operational by October 2021.

Capstone Green Energy Corporation (NASDAQ:CGRN) announced the completion of a significant expansion at its UK Integrated Remanufacturing Facility. This expansion enhances the building and testing of C200 engines, crucial for supporting Capstone's sustainable energy fleet in the EMEA region. The facility has grown from 3,000 to 19,000 square feet, allowing for increased production capabilities, including complex remanufacturing processes. This strategic development aims to reduce freight dependency and improve response times for distributors, further supporting the company’s Energy as a Service (EaaS) business model.

Capstone Green Energy Corporation (CGRN), previously Capstone Turbine Corporation (CPST), reported a 13% increase in total revenue for Q1 FY2022, reaching $16.1 million compared to $14.2 million a year earlier. Despite this growth, the company experienced a net loss of $2.2 million, which worsened from the $1.8 million loss in the prior year. Cash and cash equivalents slightly decreased to $49.2 million.

The book-to-bill ratio stood at 1:1 with new product orders totaling $8.2 million.

Capstone Green Energy Corporation (NASDAQ:CGRN) has secured a contract for a Signature Series C1000S system to operate on biogas at a Central American wastewater facility. This system, expected to be commissioned in November 2021, aims to reduce electricity purchases from the local utility. In fiscal 2021, renewable fuel projects accounted for 13% of total revenues. The company emphasizes biogas's potential for reducing emissions and enhancing energy independence, aligning with its commitment to renewable energy solutions.