Welcome to our dedicated page for Capstone Green Energy Corporation news (Ticker: CGRN), a resource for investors and traders seeking the latest updates and insights on Capstone Green Energy Corporation stock.
Capstone Green Energy Corporation (NASDAQ: CGRN) is a pioneering force in the development and manufacturing of clean and green microturbine power generation systems. Formerly known as Capstone Turbine Corporation, Capstone Green Energy has established itself as the world's leading provider of high-efficiency air bearing turbine technology.
Headquartered in Los Angeles, California, the company has successfully shipped thousands of microturbines to customers across the globe. These innovative and award-winning systems boast millions of documented runtime operating hours and adhere strictly to current and future emissions regulations. With an extensive network of over 86 distributors worldwide, Capstone provides low-emission microturbines that serve a variety of vertical markets with unmatched reliability and efficiency.
Capstone Green Energy's product lineup includes scalable solutions ranging from 30kW to 30MW, capable of operating on a diverse array of gaseous or liquid fuels. This versatility makes Capstone’s microturbines an ideal solution for today's distributed generation needs. The company is also a proud member of the U.S. Environmental Protection Agency’s Combined Heat and Power Partnership, demonstrating its commitment to improving energy efficiency and environmental performance.
However, recent developments have presented significant challenges for Capstone. On September 29, 2023, the company announced its filing for Chapter 11 bankruptcy protection. Additionally, the company received a delisting notice from the Nasdaq Stock Market due to non-compliance with Listing Rule 5550(b)(2), effective October 5, 2023. Capstone Green Energy's stock is currently trading at $0.50.
The Law Firm of KlaymanToskes has offered recovery options for investors who suffered losses due to their broker or investment advisor’s recommendations regarding Capstone Green Energy. Investors are encouraged to contact the firm for a free and confidential consultation to discuss recovery options.
Capstone Green Energy Corporation (NASDAQ:CGRN) announced a significant contract with RSP Systems for a long-term service agreement covering 1.2 megawatts (MWs) of microturbines in a major Midtown Manhattan skyscraper. This agreement extends RSP's fleet under Capstone's Factory Protection Plan (FPP) to over 25 MWs, ensuring fixed costs for maintenance over the next 10 years. The microturbines are designed to enhance energy efficiency and support sustainability goals, providing predictable cash flows and higher margins as part of Capstone's Energy as a Service (EaaS) strategy.
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.
Capstone Green Energy Corporation (NASDAQ:CGRN) will announce its first-quarter fiscal year 2022 financial results on August 11, 2021, after market close. A live webcast discussing the results will follow at 1:45 p.m. PT. The company aims to highlight its progress in carbon reduction and on-site energy solutions. Capstone has shipped over 10,000 units globally, saving customers approximately $217 million in energy costs and reducing carbon emissions by around 397,000 tons in FY21.
Capstone Green Energy Corporation (NASDAQ:CGRN) announces participation in the Water Tower Research Virtual Fireside Chat Series on July 22, 2021, at 12:00 PM PT / 3:00 PM ET. CEO Darren Jamison will discuss the company's strategic initiatives, focusing on enhancing microgrid solutions. The presentation is open to all investors and will be available for replay on their website. Capstone aims to expand its services in Energy as a Service, Energy Storage, and Hydrogen Solutions, targeting sustainability and customer efficiency.
Capstone Green Energy Corporation (NASDAQ:CGRN) has secured a contract to supply two hydrogen-fueled C65 microturbines to Innovametall Stahl- und Metallbau in Austria. This marks Europe's first hydrogen-blended microturbine system, starting with a mix of 10% hydrogen and 90% natural gas. The project aims to integrate renewable energy into the microturbine operation, utilizing rooftop solar panels for hydrogen production. The system is expected to be commissioned by October 2021, with a 10-year maintenance plan included.
Capstone Green Energy Corporation (NASDAQ:CGRN) announced a new 5-year Factory Protection Plan service contract for its C1000S butane-fueled microturbine system at AGL Energy's facility in Australia. This installation, commissioned in June 2020, supports the facility's power needs and is expected to yield annual savings of approximately $800,000 AUD ($600,000 USD) versus older engine technology. The service plan offers comprehensive maintenance and shields against future costs, while supporting environmental goals through lower emissions and noise pollution.
Capstone Green Energy Corporation (NASDAQ:CGRN) announced a new two-megawatt long-term rental contract as part of its Energy as a Service (EaaS) business model. This contract includes the installation of two C1000 Signature Series microturbines aimed at enhancing energy efficiency and reducing carbon footprint for an industrial customer. The agreement is facilitated by Capstone's distributor, Cal Microturbine, and aligns with the company’s goal of profitability while promoting green energy solutions. Capstone aims to transform on-site energy production globally.
Capstone Green Energy Corporation (NASDAQ:CGRN) announced a 10-year service contract with Innovative Energy Company Limited for a Capstone Signature Series C200S system in Jamaica. The system provides dual-mode electrical and thermal energy, covering all energy needs for a major distillery and reducing energy costs by 26%. The Factory Protection Plan guarantees fixed maintenance costs for the decade. This move supports Jamaica’s clean energy goals and aims to mitigate power outages caused by severe weather.
Capstone Green Energy Corporation (NASDAQ:CGRN) announced the delivery of two C600S and one C800S microturbine systems for oil and gas projects in Australia, expected between June and December 2021. This order, secured by distributor Optimal Group, aims to enhance energy efficiency, reduce emissions, and improve power security. The microturbines will operate using high-pressure natural gas, and their unique design enables standalone operation while maintaining reliability. The initiatives align with the oil and gas industry's shift towards greener solutions.
Capstone Green Energy Corporation (NASDAQ:CGRN) announced its participation in the Noble Capital Markets Virtual Road Show Series on June 28, 2021. CEO Darren Jamison will present corporate updates and address audience questions. The event highlights the company's commitment to green energy and carbon reduction solutions. Capstone aims to enhance its position as a trusted energy partner by showcasing its innovative solutions and recent rebranding initiatives. Registration for the live webinar is free for all investors.
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