Capstone Green Energy (NASDAQ:CGRN) Supports Mexican Commercial and Industrial Sector’s Self-Generation Demand with a C800S Microturbine System
Capstone's Shipped Fleet to Mexico Stands in Excess of 68 Megawatts.
VAN NUYS, CA / ACCESSWIRE / September 29, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that it has secured an order from DTC Ecoenergía (www.dtc.mx), Capstone's exclusive distributor for Mexico, for a 5-bay C800 Signature Series microturbine system.
"The demand for high-efficiency cogeneration in Mexico is rapidly growing, due in part to the increase in energy demand and the tightening of environmental policies," said Alejandro Muñoz, President of DTC Ecoenergía. "The solution offered by DTC through Capstone Green Energy has had an positive reception by the Mexican market, due to its efficiency in reducing polluting emissions, as well as its performance in reducing energy costs. All this translates to environmental and economic savings for users, while obtaining high-quality power and supply reliability." He added, "We save the environment and our customer's pockets."
The agreement increases Capstone's shipped fleet to Mexico to over 68 Megawatts (MW), of which 58 percent of DTC's installed fleet is covered under a service contract, and reflects a growing need for reliable, cost-effective energy generation in the country. According to Mexico's National Electrical System Development Program (Programa de Desarrollo del Sistema Eléctrico Nacional or PRODESEN), Mexico's total generation capacity as of April 2021 reached 89,479 MW. This represented an increase of 7.6 percent over 2020. Of that amount, a total of 35.5 percent was from clean energy sources (renewable and non-renewable, such as nuclear and efficient cogeneration). Looking ahead, the International Energy Agency predicts that Mexico's population will grow to over 150 million by 2050, predictably increasing energy demand, particularly in the industrial and commercial sectors, that accounts for 72 percent of overall electricity demand.
One of the core challenges faced by the manufacturing industry is the need for highly reliable energy solutions that not only reduce operational costs and increase reliability but also support sustainability goals. Capstone's scalable on-site energy efficiency systems are engineered to meet the large electrical and thermal demand requirements of industrial manufacturers, delivering energy independence with higher operational efficiency than the local utility grid. A Combined Heat & Power (CHP) system supported by a five-bay Capstone C800S package is designed to provide both 24/7 reliable and continuous electrical power and thermal energy for processes and operations.
Utilizing the heat by-product from a microturbine allows facilities to reduce emissions and save added costs that would otherwise be required to produce heat or steam in a separate unit. While traditional electricity from the grid with coal and gas-fired plants produces power at 33% efficiency, Capstone CHP systems can reach efficiencies of more than 80%.
"This is an important inflection point for energy companies like Capstone Green Energy that can provide innovative, reliable, distributed power solutions," said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. "DTC has been a key partner for Capstone in offering their customers our highly reliable, low-emission technology that not only supports their environmental goals but also helps lower their energy costs while ensuring minimal downtime and production losses," concluded Mr. Jamison.
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.
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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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Released September 29, 2021