Capstone Green Energy Corporation - CGRN STOCK NEWS

Capstone Green Energy Corporation (NASDAQ: CGRN) commends the recent expansion of the federal Investment Tax Credit (ITC) and Production Tax Credit (PTC) under the Inflation Reduction Act. The ITC for microturbine CHP projects will rise from 10% to 30% until the end of 2024. This legislation reinstitutes the tax credit for biogas projects and introduces a 10% bonus for qualifying projects. Capstone's strategy embraces new technologies like energy storage and hydrogen production, bolstering its competitive edge in the clean energy sector.

Capstone Green Energy Corporation (NASDAQ: CGRN) has secured a significant order for five C1000 Signature Series microturbines, marking its largest single order in the industrial grow house sector. The project, located in upstate New York, involves a total of five megawatts (MW), with two MWs to be operational by late 2022 and the remainder early in 2023. This installation will rank as the third largest globally for Capstone. The microturbines will enable on-site energy generation, mitigating utilities' power inadequacies and complying with New York's strict emission regulations.

Capstone Green Energy Corporation (NASDAQ: CGRN) reported its financial results for Q1 ended June 30, 2022, showcasing a revenue of $18.7 million, up 18% sequentially from $15.8 million. The gross margin increased to 25% compared to 6% in Q4. The company achieved a positive Adjusted EBITDA of $0.4 million, improving from negative $4.7 million in the previous quarter. Total Energy-as-a-Service (EaaS) long-term rental units grew 241% year-over-year to 34.4MW. Despite a net loss of $2.1 million, the results indicate a strengthening business model.

Capstone Green Energy Corporation (NASDAQ: CGRN) has secured an order for two C600 Signature Series microturbines totaling 1.2 MW for a Southern California industrial manufacturer. This deployment will enhance energy efficiency and reduce carbon emissions through a combined cooling heat and power (CCHP) system. Expected commissioning is by Summer 2023. The company emphasizes its ability to deliver low-emission solutions that lower energy costs, thereby boosting customer reliability and predictability.

Capstone Green Energy Corporation (NASDAQ: CGRN) has received a follow-on order for two C200S microturbines from a Canadian firm, just two months after the initial order. The new order adds 400 kW of power capacity to support mobile energy for upstream oil and gas sites. These microturbines will operate using associated natural gas, enhancing efficiency and sustainability. The successful performance of the initial unit led to this repeat order, highlighting customer confidence in Capstone's technology.

Capstone Green Energy Corporation (NASDAQ: CGRN) will release its full financial results for Q1 FY2023 on August 11, 2022, after market close. The conference call is scheduled for 1:45 PM PT (4:45 PM ET) that same day, where management will discuss the results and answer questions from financial analysts. Capstone specializes in customized microgrid solutions, offering services like Energy as a Service (EaaS) and Energy Storage Solutions (ESS), aiming to help customers achieve energy savings and environmental goals.

Capstone Green Energy Corporation (NASDAQ: CGRN) has received an order for a 200 kW microturbine system for an offshore oil and gas platform in Sarawak, Malaysia, from its distributor, Sekito. This technology is valued for its reliability, efficiency, and ultra-low emissions. The new system will replace an older unit and is expected to be operational by March 2023. This marks a repeat order, indicating customer satisfaction with Capstone's microturbine performance, particularly in remote applications where low maintenance and reduced emissions are crucial.

Capstone Green Energy Corporation (NASDAQ: CGRN) announced a significant order from Lone Star Power Solutions for a 600 kW microturbine system to be installed at a renewable natural gas station in Kansas, expected to be operational by August 2022. This system, utilizing high-pressure natural gas, is designed for reliability and low maintenance, essential for the remote site. Capstone's microturbines are favored for their clean energy technology and quick turnaround time for installation, addressing current equipment shortages.

Capstone Green Energy Corporation (NASDAQ: CGRN) has secured a 12-month Energy-as-a-Service (EaaS) rental contract with an oil and gas company in Anchorage, Alaska. This contract enhances Capstone's EaaS business, which has seen significant growth, increasing from 7 MW in March 2021 to over 35 MW today. The company has saved clients an estimated $698 million in annual energy costs and reduced CO2 emissions by over 1.1 million tons in three years. Capstone is also implementing a re-rent strategy, utilizing pre-owned units to expand its EaaS offerings without significant capital investment.