Capstone Green Energy Corporation on Nasdaq: CGRN
Capstone Green Energy Corporation on Nasdaq: CGRN
Installation Provides Innovative Solution for Enhanced Operational Efficiency
LOS ANGELES--(BUSINESS WIRE)-- Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green Energy-as-a-Service (EaaS) solutions, announced today that Supernova Energy Services SAS, its authorized Distributor in Colombia, has secured an order for a C1000 Signature Series microturbine. The system will be operated at an industrial dairy alongside an Alfa Laval steam boiler evaporator, producing 6,200 lbs. of steam per hour. Alfa Laval AB is a Swedish company founded in 1883, providing specialized heat recovery products, and is a Capstone Green Energy approved Network Partner for heat recovery systems. It is expected to be commissioned in October 2023.
“For operations like a dairy where any loss of power can result in product waste, the reliability of a Capstone microturbine makes it a natural choice. This is particularly true in locations where electricity from the grid is relatively unreliable. Confidence in Capstone’s reliability combined with the turbine’s low maintenance requirements and compatibility with other technologies, like the steam boiler being used here, continue to prove the value of Capstone’s modular design and engineering as well as its versatility for use in multiple industries,” said Capstone Green Energy President and Chief Executive Officer, Darren Jamison.
The Capstone powered energy system will run on high-pressure natural gas (HPNG) to provide power for the dairy’s pasteurization operations. The Alfa Laval boiler will provide steam for the entire plant. Reliability was the top reason the customer selected Capstone, but they indicated that minimal maintenance needs and low emissions were also factors in their decision. The microturbine and steam boiler combination will replace the grid-sourced electricity and a natural gas boiler that the dairy is currently using to run its operations. This is the first dairy that Supernova has worked with in Colombia and the first to use steam rather than absorption chillers in its processes.
“Working with a customer who is willing to take a different approach to powering their operations is exciting. Once we knew that reliability was their top priority, the Capstone microturbine was the obvious choice. By combining the Capstone turbine with the Alfa Laval steam boiler, this customer has found an innovative solution that will give them more operational predictability and reduce product waste,” said Nestor Moseres, President of Supernova Energy Services SAS.
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 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.
Capstone Green Energy
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Source: Capstone Green Energy Corporation
Released May 31, 2023