Capstone Green Energy (NASDAQ:CGRN) To Power Cutting Edge Microgrid With Integrated Electric Vehicle (EV) Charging Stations In Italy
The C65 Microturbines Will be Deployed in a State-of-the-Art CCHP Application
VAN NUYS, CA / ACCESSWIRE / October 28, 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 IBT Connecting Energies GmbH (www.ibtgroup.at), Capstone's exclusive distributor in Italy and Greece, secured an order for three C65 microturbines for a cutting edge microgrid with integrated electric vehicle (EV) charging stations in Italy. IBT partnered with S4E System, a national ESCO provider, to develop the combined cooling heat and power (CCHP) microgrid solution - one of the first of its kind in Italy.
The project is estimated to be commissioned in March 2022 and is expected to dramatically reduce the site's greenhouse gas emissions by over 1,000 tons annually.
"We invite customers to partner with us and our experienced distributors like IBT in developing smarter energy solutions to help customers lower their carbon footprint, increase cost efficiencies, and add resiliency to their business. Developing this innovative CCHP microgrid solution with integrated EV charging is a reflection of how our customers view their businesses, and they are increasingly demanding more green and sustainable solutions," said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy.
The state-of-the-art microgrid is comprised of three Capstone C65 microturbines, an absorption chiller, and solar photovoltaic (PV) technologies. The innovative solution will be deployed in a combined cooling, heat and power (CCHP) application utilizing low-pressure natural gas to provide electricity and thermal energy for the end-user.
S4E will own, operate and maintain the equipment, allowing the end-user to focus on their core business operations. Capstone's clean and green technology was selected as a key component in the integrated EV solution for its modulation capability, high total efficiency and ultra low emissions. The comprehensive solution will provide a reliable and resilient on-site solution with the ability to charge electric vehicles without using the local utility grid.
"The long-term partnership between IBT and S4E was strategic for this project. The great technological and commercial skills of IBT and S4E were decisive for acquiring this complex green energy project," said Ilario Vigani, Principal of IBT Connecting Energies GmbH.
"Capstone Green Energy and our global distribution network, which today covers 83 countries worldwide, is here to help customers build and maintain ever smarter energy infrastructure and engage with them as a long-term service provider and partner for their critical carbon saving initiatives," 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.
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
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Released October 28, 2021