Capstone Green Energy Corporation on Nasdaq: CGRN
Capstone Green Energy Corporation on Nasdaq: CGRN
LOS ANGELES--(BUSINESS WIRE)-- Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced that DTC Soluciones, Capstone's exclusive distributor for Mexico, has secured an order for two Capstone C600 Signature Series microturbine systems totaling 1.2 MWs.
"Supporting manufacturers as they seek to meet their reliability and resiliency needs while managing costs and lessening their environmental impact is a rewarding part of the Capstone business model," said Darren Jamison, Chief Executive Officer of Capstone Green Energy. "We continue to see demand for our products and services from the commercial and industrial sector worldwide. I appreciate our distributor's focus on educating and engaging these customers in Mexico and elsewhere on how Capstone products can help them reach their goals."
One of the core challenges faced by the manufacturing industry is the need for reliable and efficient energy solutions that reduce operational costs, increase reliability, and support sustainability goals. Capstone's scalable microturbine energy systems are engineered to meet commercial and industrial manufacturers' large electrical and thermal demand requirements. Capstone microturbines can reduce energy costs by producing electricity at a lower cost than the price of power supplied by local utilities.
According to the International Trade Association, Mexico's industrial and commercial sectors represent 72 percent of electricity demand, and high electricity rates have impacted industrial manufacturing, operations, and commercial activities. Even with these challenges, the industrial and commercial sectors are an important area of opportunity for U.S. exports, as they represent the largest percentage of electricity demand. These companies are continuously looking for technological alternatives to increase energy efficiency and reduce costs which Capstone's clean and green technology can provide.
"We continue to see high demand for energy-efficient solutions throughout Mexico. There is an urgent need for alternative forms of reliable power supply for the industrial and commercial sectors. Over the last 13 years, DTC has worked in synergy with Capstone to deliver our customers high-quality power and reliability while reducing energy costs and positively impacting the environment. We're proud to celebrate our anniversary this month and hope to continue to serve our customers for many years to come," said Alejandro Muñoz, President of DTC Soluciones.
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.
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 the Company's target for growth of its rental fleet 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 sufficiency of the Company's working capital to meet its rental fleet growth target; 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.
Capstone Green Energy
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Source: Capstone Green Energy Corporation
Released September 15, 2022