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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) 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) 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) 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) has announced the expansion of its microturbine rental business, increasing its rental fleet from 10.6 MW to 12.1 MW. This includes three new long-term contracts: a five-year rental for an independent oil and gas producer, a prepaid five-month rental for an industrial agricultural operation, and a one-year rental for an industrial plastic company. These contracts enhance Capstone’s Energy as a Service model, improving its recurring revenue streams and gross margins.
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 (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) will participate in the Water Tower Research Virtual Fireside Chat on April 29, 2021, at 9:30 AM PT. CEO Darren Jamison will discuss the company’s green energy transformation and business expansion, showcasing the benefits of its recent rebranding. Capstone focuses on four business lines: Energy as a Service, Energy Conversion Products, Energy Storage Products, and Hydrogen Solutions. The event is open to investors, with limited registration, but will be available for replay afterward.
