Capstone Green Energy Corporation - CGRN STOCK NEWS

Capstone Green Energy Corporation (NASDAQ:CGRN), formerly known as Capstone Turbine Corporation (NASDAQ:CPST), announced a live virtual presentation at the Sidoti Summer 2021 Virtual Conference on June 23, 2021, at 4:00 pm ET. CEO Darren Jamison will provide a corporate update, discussing rebranding, new product offerings, and growth initiatives. One-on-one meetings with management will also be available on June 23-24. Interested participants can register for the event here.

Capstone Green Energy Corporation (NASDAQ:CGRN) has successfully closed its public offering of 2,190,477 shares at $5.25 per share, raising approximately $11.5 million in gross proceeds. The funds will be allocated for working capital, general corporate purposes, and growth initiatives, although no current acquisition plans are in place. The offering utilized a shelf registration filed with the SEC, and the Company aims to enhance its green energy solutions while addressing environmental and energy savings goals globally.

Capstone Green Energy Corporation (NASDAQ:CGRN) announced an increase in its public offering due to high demand, with 1,904,763 shares priced at $5.25 each, expecting to raise gross proceeds of about $10 million. The offering is set to close around June 22, 2021. An additional 285,714 shares may also be purchased by the underwriter within 30 days. Proceeds will be allocated for working capital, corporate purposes, and growth initiatives, including potential acquisitions. This public offering follows a previously filed shelf registration statement.

Capstone Green Energy Corporation (NASDAQ:CGRN) announced an underwriting agreement with H.C. Wainwright & Co. to sell 952,380 shares at $5.25 each, aiming to raise approximately $5 million before deductions. The offering is set to close around June 22, 2021, pending typical closing conditions. An additional 142,857 shares may be purchased within 30 days. Proceeds are intended for working capital, growth initiatives, and potential acquisitions, although no current deals are in place. The offering follows a shelf registration statement effective since April 14, 2021.

Capstone Green Energy Corporation (NASDAQ:CGRN) has appointed Jeff Foster as Senior Vice President, Corporate Development, to spearhead strategic acquisitions and partnerships. Additionally, Nick McGrath joins as Director of Business Development for Europe to enhance the company's presence in the European energy storage market. The company is transitioning to focus on clean energy technologies, including hydrogen-based solutions and Energy as a Service (EaaS). Capstone aims to leverage growth in microgrid and EaaS sectors while promoting experienced internal talent for future strategies.

Capstone Green Energy (NASDAQ:CGRN) reported strong financials for the fourth quarter and fiscal year 2021. Total revenue reached $17.9 million, a 54% increase from the previous year, with cash provided by operating activities at an all-time high of $1.7 million. Despite a net loss of $4.8 million, significant improvements in Adjusted EBITDA were noted. Cash reserves rose to $49.5 million, marking a recovery from pandemic challenges. The company's strategic goals for fiscal 2022 focus on enhancing product offerings and expanding market reach.

Capstone Green Energy Corporation (NASDAQ:CGRN) is set to present at the LD Micro Invitational XI on June 9, 2021, at 1:30 PM ET. Darren Jamison, President & CEO, will lead the virtual presentation discussing the company's transformation and green energy initiatives. The LD Micro Invitational runs from June 8 to June 10, featuring around 180 companies. Capstone, a leader in microgrid solutions, has saved customers over $217 million in energy costs and reduced carbon output by approximately 397,000 tons in FY21. More details can be found on their website.

Capstone Green Energy Corporation (NASDAQ:CGRN) announced a new 10-year Factory Protection Plan (FPP) service contract for two C1000S systems in Mexico, reducing CO2 emissions by 82% and NOx emissions by 97%. The systems, operational since July 2019, provide 47% of the electricity demand for a large food company in Jalisco, lowering their electricity costs by 33%. The FPP ensures fixed parts costs, protecting against future price increases. Capstone highlights the significance of distributed energy for enhanced environmental sustainability and the positive societal impact of its microturbine systems during the COVID-19 pandemic.

Capstone Green Energy Corporation (NASDAQ:CGRN) plans to announce its fourth quarter and full fiscal 2021 results on June 10, 2021, after market close. A live webcast will follow at 1:45 PM PT (4:45 PM ET) for discussion of the results, including a Q&A session for analysts. The company is known for delivering carbon reduction solutions and energy systems, having delivered over 10,000 units globally. In FY21, it saved customers $217 million in energy costs and reduced carbon emissions by 397,000 tons.