Capstone Green Energy Continues Its Success in the EaaS Market With a 1 MW Order From a Global Oil and Gas Company
01 Março 2023 - 10:15AM
Business Wire
Order Pushes Total EaaS Rental Contracts to
More Than 50 MW
Capstone Green Energy Corporation (NASDAQ: CGRN), a global
leader in carbon reduction and on-site resilient green energy
solutions, continues to grow in the Energy-as-a-Service (EaaS)
market with newly secured order for a C1000S microturbine rental
package for a leading global oil and gas technology company. The
order will be deployed in an Ecuadorean oil field in early
April.
“This recent order for a Capstone microturbine in Ecuador means
that over the past three months, we have made sales, directly and
in partnership with our distributors, on four continents. The value
of Capstone technology is being recognized and used worldwide for
its reliability under harsh conditions in remote settings, for the
environmental benefits compared to legacy turbine technology, and
its modular design, which allows customers to scale the product to
suit their needs for on-site power generation,” said Darren
Jamison, Capstone Green Energy’s President and CEO.
The 1 MW solution will be installed in a remote oilfield in the
Ecuadorean jungle and will replace an existing diesel generator and
produce clean and reliable electricity using associated gas
directly from the pipeline. The power generated by the
microturbines will provide 100 percent of the electricity needed to
power on-site surface production equipment and the pump
station.
The oilfield operators selected Capstone’s microturbine
technology for its high reliability in the field as well as their
ability to significantly reduce operational costs and flare
emissions. Operators wanted a modular, reliable, and cost-effective
solution to replace their high-maintenance genset. The
microturbines, which have only one moving part and use no
lubricants, are a low-maintenance solution, which is a key benefit
given the site’s remote location.
“Capstone microturbine solutions are an ideal choice for oil and
gas operators due to their low maintenance and high reliability.
Microturbines can use associated natural gas as an input fuel
source with minimal gas pre-treatment. This allows oil and gas
customers to monetize the associated gas, keep operational costs
low by avoiding extra fuel-cleaning equipment, and reduce any
negative impact on the local environment,” concluded Gorgui Ndoye,
Director of Business Development for Capstone Green Energy.
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.
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 and liquidity 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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Capstone Green Energy Investor and investment media inquiries:
818-407-3628 ir@CGRNenergy.com
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