Capstone Green Energy Corporation on Nasdaq: CGRN
Capstone Green Energy Corporation on Nasdaq: CGRN
The Microturbine Enclosure Will Be Sized to Accommodate Future Expansion
VAN NUYS, CA / ACCESSWIRE / October 20, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) ("Capstone" or the "Company"), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that Supernova Energy Services (www.supernova-es.com), Capstone's exclusive distributor for Colombia and Venezuela, secured an order for a three-bay C400 Signature Series microturbine to be installed in a cogeneration application and supply electricity and cooling for Llanogas, a leading natural gas utility company in Colombia.
The success and demonstrated benefits of a pilot project at Llanogas' headquarters in Villacencio, Meta, Colombia led officials to install a three-bay natural-gas fueled C400S microturbine package at a nearby office complex located near El Barzal. The system is the first district cooling application in the country. In this application, cold water is produced in a centralized location for distribution to buildings like offices and factories through a network of insulated underground pipes. District cooling offers a modern, efficient way to air condition a network of buildings in cities or complexes and contribute to improving a reliable energy infrastructure.
"Carbon reduction practices are evolving in exciting new ways, and energy efficiency strategies are evolving with them," said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. "Capstone solutions deliver essential power reliability and energy efficiency that energy dense customers require, which, in turn, improves their return on investment. At the same time, our systems lower their carbon footprint," added Mr. Jamison.
Committed to the care and preservation of the environment, Llanogas officials actively sought a cogeneration solution that would offset their carbon footprint and maximize overall energy efficiency. Capstone's innovative technology was selected for its scalability, resiliency, and ability to reduce energy costs while simultaneously reducing emissions of pollutants and greenhouse gases.
"This will be an iconic project in the city of Villavicencio, it being the first dedicated office complex with the capacity to provide cooling for several adjacent buildings and trend setting technologically with the cooling water energy storage," said Nestor Moseres, President of Supernova Energy Services.
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.
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.
Capstone Green Energy
Investor and investment media inquiries:
SOURCE: Capstone Green Energy Corporation
Released October 20, 2021