Capstone Green Energy Secures Order for 600kW State-of-the-Art Biogas to Combined Heat and Power Project
Project Will Utilize a Micro Heat Exchanger from Capstone Network Partner Alfa Laval
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 E-Finity Distributed Generation, Capstone’s exclusive distributor for the Mid-Atlantic, Southeastern United States, and the Caribbean, has secured an order for a biogas-fueled Capstone C600 Signature Series microturbine. The microturbine system will be coupled with an Alfa Laval Micro heat exchanger to heat thermal oil from 200 degrees to 280 degrees, resulting in a 40% temperature increase in the biogas production process. The order is scheduled to be commissioned in late 2023.
“We continue to see demand for biogas installations globally and Capstone is extremely pleased with our new network partner Alfa Laval, a leading supplier of products and solutions for heat transfer, separation, and fluid heating with a unique product lineup,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “Customers are seeking out these innovative energy solutions because they help manage costs, reduce emissions and support predictable operations.”
The waste heat from the C600S microturbine will be channeled into an Alfa Laval heat exchanger and will heat thermal oil in an innovative way to produce the biogas, all while providing the highest system efficiency possible.
The system will be controlled and operated using the E-Finity m-TIM PLC Controller. The m-TIM will systemically operate the C600S microturbine, a 250-scfm gas conditioning skid, and the heat exchanger, allowing for peak performance of the CHP output and lowering energy costs.
“This state-of-the-art biogas CHP system is part of a new approach to transforming manure into energy, eliminating site odor, pollution, and emissions while reducing energy demand needed for the process,” said Jeff Beiter, President and Chief Executive Officer of E-Finity Distributed Generation.
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
Investor and investment media inquiries:
Source: Capstone Green Energy
Released April 4, 2023