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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"), announced today that DTC Ecoenergía (www.dtc.mx), a Capstone distributor for Mexico, signed a new 10-year Factory Protection Plan (FPP) service contract for two Capstone Signature Series C1000S systems installed in Mexico.
Commissioned in July 2019, the two Capstone Signature Series C1000S systems are owned and operated by a large food industry company in Jalisco, Mexico. The systems operate 24x7 in parallel with the grid and provide 47% of the plant's electricity demand while lowering their electricity bill by approximately 33%. The exhaust heat from the two C1000S systems is fed through absorption chillers producing 695 refrigeration tons of cooling for the factory. Installing and operating these Capstone C1000S systems has also allowed the factory to reduce their CO2 and NOx emissions by 82% and 97%, respectively.
The Capstone parts-only FPP will provide the customer with fixed scheduled and unscheduled parts costs for the next 10 years, providing protection from future cost increases associated with replacement spare parts, commodity prices and import tariffs.
"Projects like this in the food industry really highlight the importance of distributed energy to both the companies providing critical goods and services, and for everyday people consuming these products," stated Jeff Foster, Capstone's Senior Vice President of Customer Service and Product Development. "Throughout the COVID-19 pandemic our microturbine systems helped meet the critical needs of people around the world, while at the same time doing it in an environmentally positive manner," added Mr. Foster.
"Long-term service agreements like this continue to serve as the foundation for CGRN's Energy as a Service (EaaS) offering and also to support our large array of essential industry, global customers," stated Darren Jamison, President and Chief Executive Officer of Capstone Green Energy Corporation. "Innovative, green energy projects like this should become more common as we as a global society begin to focus more on ESG for the common good of our planet," concluded Mr. Jamison.
