Capstone Green Energy's (NASDAQ: CGRN) United Kingdom Integrated Remanufacturing Facility Expands its Global Remanufacturing, Training, and Support Capabilities

Rhea-AI Summary

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.

Positive

• Completion of grid interconnect expansion at UK facility.
• Increased facility size from 3,000 to 19,000 square feet enhances production capabilities.
• Creation of a trade-in program for upgrading to more efficient products.
• Expansion supports a growing sustainable energy fleet in EMEA.

Negative

• None.

VAN NUYS, CA / ACCESSWIRE / August 16, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), formerly Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) ("Capstone" or the "Company"), announced today the completion of the grid interconnect expansion at the UK Integrated Remanufacturing Facility which allows for the building and testing of Capstone's C200 engines. Expanding the operations at the UK facility is fundamental for the long term support of Capstone's established and growing sustainable energy fleet in the EMEA (Europe, Middle East & Africa) region.

Located a short distance south of London and close to UK's major shipping infrastructure, Capstone's strategically located Gosport facility plays an increasingly important role in supporting the growth and expansion of the global microturbine fleet, as well as the rental program, which is a critical component of the Company's Energy as a Service (EaaS) business line. The construction of individual test cells and an increased grid export capacity agreement of 500kW marks a significant milestone in the UK operation's expanded capability to remanufacture C200 powerheads, in addition to remanufacturing the C200 recuperators.

From an original footprint of 3,000 square feet in 2009 to the current 19,000 square feet expanded facility, the UK operation has evolved from a warehouse for aftermarket parts and hub for field support, to a fully integrated remanufacturing facility capable of serving the EMEA region's future build requirements for Capstone's flagship C200 engines. Taking recent possession of the adjacent building also marks the start of a trade-in program for a region with a legacy fleet to upgrade to the more efficient Signature Series product. The added floor space will accommodate a state-of-the-art training suite for in classroom and hands-on training for regional Distributors fulfilling their need to reduce travel costs while staying product-current and maintaining vital coverage.

"Continuing to invest in our UK operation is critical to Capstone's key objectives to reduce and drive down freight dependency and offset manufacturing costs through our remanufacturing program. In parallel, we are improving response times for all our existing Distributor partners and growing our Energy as a Service (EaaS) business as we expand the global rental fleet," said Darren Jamison, Capstone's President and Chief Executive Officer "By adding complex remanufacturing processes, the UK facility now mirrors the Capstone US-based testing facilities. These capabilities will accelerate Capstone's ability to provide parts and services to EMEA and improve future aftermarket margins" added Mr. Jamison.

"The ability to remanufacture in the UK has proven invaluable for the region, so executing the plan to maximize capability through engine builds and staging rental growth is the next natural step," said Tracy Chidbachian, Capstone Director of Customer Service. "Led by Jim Newbold, our Director of Global Services, the UK's highly experienced and talented team plays a vital role in Capstone's broader support plan and strategic development for the region," concluded Ms. Chidbachian.

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company's growth strategy and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:

Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

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FAQ

What recent development occurred at Capstone Green Energy's UK facility?

Capstone Green Energy completed a grid interconnect expansion at its UK Integrated Remanufacturing Facility, enhancing the capabilities for building and testing C200 engines.

How has Capstone Green Energy's UK facility changed in size?

The facility has expanded from 3,000 square feet to 19,000 square feet, allowing for increased production and remanufacturing capabilities.

What is the impact of the new trade-in program announced by Capstone Green Energy?

The trade-in program aims to facilitate upgrades to more efficient Signature Series products for customers with legacy fleets.

How does the expansion of the UK facility benefit Capstone's Energy as a Service business?

The expansion improves response times for distributors and supports the growth of Capstone's global rental fleet, enhancing the Energy as a Service business line.