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Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) formerly Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) ("Capstone" or the "Company"), a global partner in carbon reduction and on-site resilient green energy solutions, announced today that it received an order for two of its C1000 Signature Series (C1000S) microturbine systems for an application at a Methane Hydrate Project Surface Facility in Alaska's North Slope near Prudhoe Bay. Arctic Energy, Inc., Capstone's exclusive distributor for Alaska (www.arcticenergyalaska.com), secured the order in partnership with ASRC Energy Services Alaska, Inc., the designing engineers for the project facility. The new system is expected to be commissioned in May 2022.
Methane hydrate (also known as gas hydrate) is a relatively new energy source found in permafrost and some undersea regions. It has gained attention in recent years as governments and oil and gas companies have started exploring its potential. At the Alaskan processing facility, the new combined heat and power (CHP) system, fueled by natural gas from an existing on-site pipeline, will provide power for the methane hydrate separation process. It will also be configured with Capstone Green Energy heat recovery modules (HRMs) attached to each of the microturbines in order to provide heat for the facility.
As the first of its kind for Capstone Green Energy, the CHP system features a unique design to provide heat for the methane hydrate separation process as well as provide low emission, highly reliable power. The Capstone solution was also selected for its high N+1 redundancy, low maintenance needs, and long maintenance intervals (~20,000 hours), all essential needs for a facility located in one of the harshest and most remote environments on earth.
"Throughout its history, Capstone Green Energy has dedicated its efforts to providing cleaner and smarter on-site resilient energy solutions," said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. "With this new order, we expect to provide critical support to a research and development project that aims to advance new technologies in order to expand the world's energy portfolio in important ways," added Mr. Jamison.
"The Capstone C1000S series continues to grow as the 21st century solution to so many oil and gas industry needs," said Greg Porter, President and Chief Executive Officer of Arctic Energy. "The remote operation capabilities, low cost of ownership, low emissions, and no fluids to remediate from sensitive land are one hundred percent aligned with the oil and gas industry's more stringent procedures. As operations crews become smaller and more specialized, the Capstone product allows for a smaller and more focused support staff. Making fossil fuel recovery and exploration even cleaner and more environmentally responsible is what the Capstone microturbines do," concluded Mr. Porter.
