Third Order From Customer Within a Year,
Customer Cites Cost Savings and Emissions Reductions as Key Factor
in Repeat Orders
Capstone Green Energy Corporation (NASDAQ: CGRN), a global
leader in carbon reduction and on-site resilient green energy
solutions, announced that Horizon Power Systems, Capstone's
exclusive distributor for the Rocky Mountain States, Western
Canada, Oklahoma, and Arizona, secured a follow-on order for two
Capstone 200kW Signature Series microturbines. The order is
scheduled to be commissioned in Fall 2023.
"Capstone Green Energy microturbines continually demonstrate
their exceptional value proposition, substantiating their
reliability, emission reduction capabilities, and overall ease of
use," said Darren Jamison, President and Chief Executive Officer of
Capstone Green Energy. "The fact that customers like this one are
returning for additional units at such a rapid pace is a testament
to the technology's ability to deliver on our promises. This
particular customer has put Capstone units to the test in harsh
conditions, remote locations, utilizing a diverse range of fuel
qualities, and the microturbines have consistently proven
themselves as environmentally friendly and a dependable power
source."
The microturbines will serve as mobile power sources for
auxiliary equipment and buildings at a natural gas production site.
They will run on high-pressure natural gas (HPNG), replacing older
diesel-powered units. Capstone microturbines support the customer's
goal of transitioning the industry away from powering on-site
equipment with high-emission diesel fuel, to using natural gas,
which has a lower carbon footprint. The customer indicated that it
selected Capstone based on its ongoing, positive experiences with
Capstone products and services. Specifically, the customer noted
cost reductions from eliminating the need for trucking diesel to
well sites and lower maintenance needs than the diesel engines. In
addition, the Capstone microturbines meet Canadian emissions
regulations, so there aren't additional costs or equipment needed
to treat the exhaust.
"This is the customer's third order of C200S microturbines in
just one year," said Sam Henry, Horizon Power Systems President.
"They're impressed with the uninterrupted performance of the
microturbines currently in the field, reduction of their customers'
carbon footprint, and ease of running on wellsite natural gas."
About Capstone Green Energy
Capstone Green Energy (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
Generation Technologies (EGT) 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 Solutions (ESS) business line designs and installs
microgrid storage systems, creating customized solutions using a
combination of battery technologies and monitoring software.
Through Hydrogen & Sustainable Products (H2S), Capstone Green
Energy offers customers a variety of hydrogen products, including
the Company's microturbine energy systems.
To date, Capstone has shipped over 10,000 units to 83 countries
and estimates that in FY22, it saved customers over $213 million in
annual energy costs and approximately 388,000 tons of carbon. Total
savings over the last four years are estimated to be approximately
$911 million in energy savings and approximately 1,503,100 tons of
carbon savings.
For customers with limited capital or short-term needs, Capstone
offers rental systems; for more information, contact:
rentals@CGRNenergy.com.
For more information about the Company, please visit
www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on
Twitter, LinkedIn, Instagram, Facebook, and YouTube.
About Horizon Power Systems
For over 20 years, Horizon Power Systems has worked exclusively
with Capstone Green Energy to provide microturbine systems across
the Rocky Mountain States and Western Canada. It has installed over
1,000 microturbines that have logged millions of documented runtime
operating hours. Whether for CHP, trigeneration, microgrid, or
prime power, the Horizon Power Systems team customizes each
microturbine system based on the customer's unique power and
sustainability needs.
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 growth expectations 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 departures and other
changes in management and other key employees. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230612157456/en/
Capstone Green Energy Investor and investment media inquiries:
818-407-3628 ir@CGRNenergy.com
Capstone Green Energy (NASDAQ:CGRN)
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