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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 it received orders for several different customers in Austria and Germany to provide its microturbines as part of upgraded and expanded systems at multiple industrial and wastewater treatment plants. The orders, secured by long-time Capstone distributor Wels Strom, are expected to provide reliable, low maintenance energy for these critical infrastructure sites, several of which are repeat Capstone customers.
A total of eight C65 Microturbines and five C30s have been ordered. Five of the C65s will run on biogas and three on natural gas, while the C30s will all run on biogas. Because biogas is a waste byproduct that would otherwise need to be flared at these sites, the systems are expected to reduce emissions, while also saving on fuel costs.
In addition to the microturbine purchases, several customers have already signed 5- or 10-year service contracts provided by Capstone's Factory Protection Plan (FPP). Through the FPP, maintenance costs are fixed, and both planned and unplanned repairs are covered for the life of the contract, thereby maintaining high performance and limiting long-term system costs.
"One of the big lessons of the global pandemic for these kinds of critical infrastructure sites was that they needed to operate without interruption, and often with limited personnel," said Leopold Berger, Head of Energy Systems at Wels Strom. "So when it came to reliability and remote monitoring capabilities, Capstone Green Energy was the ideal choice," added Mr. Berger.
"These orders are a healthy sign that our market is starting to rebound in Europe, in this case, specifically, Austria and Germany," said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. "As we work with prospective customers on their near-term and long-term energy goals, we're finding that there is greater interest in finding solutions that address both the issues of power security and the environment. For those reasons, wastewater treatment facilities are prime candidates for these types of system upgrades," concluded Mr. Jamison.
