Capstone Green Energy Corporation - CGRN STOCK NEWS

Capstone Green Energy Corporation (NASDAQ: CGRN) has announced an expansion in its Energy-as-a-Service (EaaS) contracts, reaching 45 MW under contract, with a goal of 50 MW by March 31, 2023. The recent addition is a 3.6 MW rental contract with a major West Texas energy company, emphasizing Capstone's focus on EaaS as a driver for improved margins and predictable revenue streams. The company aims for positive adjusted EBITDA as it implements price increases and controls costs. This strategic growth reflects ongoing customer demand and a shift towards sustainable energy solutions, replacing traditional generator units with greener alternatives.

Capstone Green Energy Corporation (NASDAQ: CGRN) reported third quarter revenues of $19.6 million, down 5% year-over-year but up 9.5% year-to-date at $59.0 million. Despite a net loss of $5.2 million, adjusted EBITDA improved 43% to a loss of $1.7 million, driven by growth in the Energy-as-a-Service (EaaS) business. Rental units under contract surged 126% year-over-year to 40 MW. Gross margins improved to 14%, though below expectations due to supply chain costs. The company anticipates further revenue growth through price increases and ongoing strategic shifts towards EaaS.

Capstone Green Energy Corporation (NASDAQ: CGRN) has received recertification from the California Air Resources Board (CARB) for its C65 microturbine, confirming compliance with state emission standards for 15 years. This long-standing achievement enhances Capstone's credibility in the green energy sector, bolstering its commitment to carbon reduction and energy efficiency. The certification streamlines the company's Energy-as-a-Service (EaaS) business by facilitating quicker air permitting for rental customers. Since 2007, the C65 has demonstrated reliability and low maintenance, contributing to significant energy savings and emission reductions for clients.

Capstone Green Energy Corporation (NASDAQ: CGRN) has announced a substantial order for a C800 Signature Series microturbine from Optimal Group, its distributor for Australia, New Zealand, Fiji, and Papua New Guinea. This marks the fifth order from this customer, with commissioning expected in October 2023. The microturbine will provide power to a remote oil and gas site and support ancillary power for a compressor station. Capstone’s solutions are designed to meet the decarbonization goals of the oil and gas industry, emphasizing reliability, fuel flexibility, and a low carbon profile, crucial for operations in harsh environments.

Capstone Green Energy Corporation (NASDAQ: CGRN) announced a follow-on order for a C1000 Signature Series microturbine from IBT Group, its authorized distributor in Italy, to power a district heating plant in Bardonecchia. The microturbine, scheduled for commissioning in December 2023, is designed to improve energy efficiency and reduce emissions by integrating heat and power production. This second order follows the successful installation at the Breuil-Cervinia plant in 2016, showcasing the reliability of Capstone's technology. The company continues to focus on low-carbon energy solutions as demand for district heating grows in Italy.

Capstone Green Energy Corporation (NASDAQ: CGRN) is set to hold its quarterly conference call on February 13, 2023, at 1:45 p.m. PT to discuss its third quarter fiscal results. This call will include a question-and-answer session for analysts, and a replay will be available on the company's investor relations webpage for at least 90 days. Capstone specializes in customized microgrid solutions and energy technologies, boasting over 10,000 units shipped to 83 countries, and claims to have saved customers over $213 million in annual energy costs in FY22. For more details, visit Capstone's website.

Capstone Green Energy (NASDAQ: CGRN) announced a follow-on order for two C200S Microturbines from E-Finity Distributed Generation, its distributor in the Mid-Atlantic and Caribbean. Scheduled for commissioning in summer 2023, these microturbines will be deployed at remote gas compression sites in the Marcellus Shale Play, ensuring reliable electricity and supporting emissions reduction targets. The order underscores the customer’s satisfaction with Capstone’s low-emission solutions and excellent power performance. Capstone has shipped over 10,000 units globally, helping customers save $213 million in annual energy costs and 388,000 tons of carbon in FY22 alone.

Capstone Green Energy has secured a long-term rental agreement through its distributor Horizon Power Systems for 30 microturbines at 15 well sites in New Mexico. The Energy as a Service (EaaS) contract will enhance the customer's existing fleet of 45 microturbines, optimizing power reliability and reducing capital expenses in remote locations. Each site will feature two natural gas-fueled microturbines, providing energy for Lease Automatic Custody Transfer (LACT) units. The agreement includes a Factory Protection Plan, ensuring efficient operations and minimizing downtime.

Capstone Green Energy Corporation (NASDAQ: CGRN), a leader in carbon reduction and green energy solutions, will participate in a live Virtual Non-Deal Roadshow on January 17 at 11:00 a.m. CT. The presentation will be aimed at investors in Houston and features CEO Darren Jamison and CFO Scott Robinson.

Interested parties can register for the event, which will conclude with a Q&A session. Capstone has delivered over 10,000 units globally, saving customers approximately $213 million in annual energy costs and 388,000 tons of carbon in FY22.

Registration may be limited, with replay access available on Capstone's Investor Relations page.