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Capstone Turbine Corporation (NASDAQ: CPST) will participate in the Water Tower Research Virtual Fireside Chat on October 21, 2020, discussing their strategy for the hydrogen economy. Senior Director Don Ayers will lead the discussion, highlighting Capstone's advancements in hydrogen fuel flexibility. The company has demonstrated the capability to operate on a 20% hydrogen mix and is testing a 70% hydrogen blend in collaboration with Argonne National Laboratory. The event is open to investors, with limited live registrations available.
Capstone Turbine Corporation (NASDAQ:CPST) announced the successful demonstration of the 247Solar Plant™, which utilizes two C200S microturbines to generate electricity and thermal energy 24/7. This innovative project aims to offer a competitive, clean-energy solution that reduces fuel consumption by up to 90%. Capstone’s microturbines operate without fossil fuels when powered by solar energy or thermal storage. The company anticipates strong market demand for such green technologies as global recovery from COVID-19 emphasizes the need for environmental sustainability.
Capstone Turbine Corporation (NASDAQ: CPST) will present at the Zooming with LD event on October 15, 2020, at 11:00 AM ET. CEO Darren Jamison will discuss a new $50 million term note refinancing with Goldman Sachs, aimed at lowering interest rates and expanding their Energy as a Service (EaaS) model, which is projected to generate recurring revenues for the next twenty years. The company also reports a 73% increase in gross product bookings, including a notable energy efficiency project for a resort in Las Vegas.
Capstone Turbine Corporation (NASDAQ:CPST) will participate in a Fireside Chat on October 8, 2020, at 12:00 pm PT/3:00 pm ET, hosted by Water Tower Research. The discussion will focus on a business update and the strategic expansion of its Energy as a Service (EaaS) strategy. Key topics include the refinancing of a Goldman Sachs note, rental fleet expansion, and other strategic initiatives. The event is open to all investors and will be webcast live, with a replay available on Capstone's website.
Capstone Turbine Corporation (NASDAQ:CPST) announced an amended Note Purchase Agreement on October 1, 2020, increasing its senior secured notes from $30 million to $50 million. The $20 million in net proceeds will be used to expand its long-term rental fleet from 8.6 MW to 21 MW and for general corporate purposes. This expansion is integral to Capstone's EaaS strategy aimed at enhancing profitability. The entire principal must be repaid by October 1, 2023, with an interest rate of LIBOR plus 8.75%. The agreement includes financial covenants related to liquidity and EBITDA.
Capstone Turbine Corporation (NASDAQ:CPST) reported positive cash flow from operations for Q2 2021, generating cash without any financing or grants. Total cash increased to $16.7 million from $16.2 million in the previous quarter. Management attributes cash flow improvements to a focus on its Energy as a Service (EaaS) strategy and effective cost management, including reduced inventory and improved service margins. These results indicate a stable financial outlook despite challenges posed by COVID-19 and volatile market conditions.
Capstone Turbine Corporation (NASDAQ: CPST) has secured a 4-MW energy efficiency order for a casino in Las Vegas, marking a significant achievement after a 73% increase in gross product orders to approximately $9.5 million for Q2 fiscal 2021. This order is expected to commence in summer 2021, showcasing Capstone's recovery post-COVID-19 pandemic. The microturbines will enhance the resort's sustainability by providing clean energy and reducing diesel reliance, with significant operational benefits for hotels and casinos.
Capstone Turbine Corporation (NASDAQ:CPST) has secured three orders for 10 C65 microturbines, totaling 650 kW, from various commercial industrial combined heat and power customers in Europe. These projects, facilitated by E-quad Power Systems, highlight a recovery in energy efficiency demand as customers move past COVID-19 challenges. The installations are expected to enhance energy efficiency and reduce emissions. Capstone's Factory Protection Plan will support these systems, which align with the company's vision of generating recurring revenue from energy services.
Capstone Turbine Corporation (NASDAQ:CPST) announced a follow-on order for two C65 microturbines from a Toronto-based plastics manufacturer. This project, secured by exclusive distributor Vergent Power Solutions, aims to enhance energy efficiency and reduce costs. The new microturbines will meet 90% of the facility’s energy demand, adding to their existing fleet of four. Since December 2019, these microturbines have significantly cut energy expenses for the client, showcasing their advantage even in power-only mode. Capstone continues to establish a strong market presence with repeat customers.
Capstone Turbine Corporation (NASDAQ:CPST) announced its participation in Lake Street's 4th Annual Best Ideas Growth (BIG4) Conference on September 17, 2020. CEO Darren Jamison will discuss plans to improve adjusted EBITDA by $10 million year-over-year and updates on hydrogen product development in light of the company's #ShiftToGreen initiative. This follows the victory of the No. 88 Capstone Honda IndyCar at the Honda Indy 200 at Mid-Ohio. Interested institutional investors can schedule one-on-one meetings with the management.
