Capstone Green Energy Corporation on Nasdaq: CGRN
Capstone Green Energy Corporation on Nasdaq: CGRN
The Renewable Energy Projects Will Reduce Carbon Emissions While Simultaneously Providing Clean and Reliable Heat and Power
VAN NUYS, Calif.--(BUSINESS WIRE)-- Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), ("Capstone," the "Company," “we” or “us”), a global leader in carbon reduction and on-site resilient green energy solutions, today announced that IBT Connecting Energies GmbH (www.ibtgroup.at), exclusive distributor for Italy, has secured orders for two waste-to-energy projects in the Sardinia region of Italy. Three C65 microturbines will be deployed at two wastewater treatment facilities operated by Acciona Agua SA in Alghero and Cagliari, Italy. The microturbine systems are expected to be commissioned in December 2022.
“We are pleased to see continued order flow out of the European region given the unprecedented macroeconomic conditions in their energy markets,” said Darren Jamison, Chief Executive Officer of Capstone Green Energy. “This is a perfect example of how customers are reducing their dependence on fossil fuel sources for power generation through sustainable biogas to energy projects.”
Once commissioned, the microturbines will cleanly and effectively operate on the biogas, or "green waste", produced on-site from municipal solid waste. In addition, the new cogeneration plants will incorporate a customized heat recovery module (HRM), advanced gas treatment, compressors, and SCADA control panels. Together, the configuration will allow plant operators to harness the waste fuel for on-site power production.
The microturbines will be utilized in a combined heat and power (CHP) application and produce electricity and hot water for the customer’s wastewater treatment facilities. The projects are the first of their kind in the Sardinia region of Italy.
Wastewater treatment plants are excellent candidates for microturbine-based CHP. The most common renewables projects make use of digester methane to generate electric power or combined heat and power. These installations can bring fast payback from utility power and natural gas savings by utilizing waste methane, a greenhouse gas many times more potent than carbon dioxide. In addition, excess renewable electricity could be offered for sale to the electric utility.
“These two important projects are proof that the market is heading in the right direction of renewable energy. This confirms once again that Capstone technology is the number one for this type of application, which uses the biogas produced by wastewater treatment plants,” said Ilario Vigani, President and CEO of IBT Connecting Energies GmbH.
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 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.
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 to be approximately $698 million in energy savings and approximately 1,115,100 tons of carbon 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.
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Source: Capstone Green Energy Corporation
Released May 26, 2022