Capstone Green Energy Corporation (NASDAQ:CGRN) Signs 10-year Comprehensive Service Contract on 2 MWs Installed in Mexico

By: Capstone Green Energy Corporation via AccessWire

June 04, 2021 at 08:00 AM EDT

Capstone C1000S Systems Have Allowed the Customer to Reduce Their CO2 and NOx Emissions by 82% and 97%, Respectively

VAN NUYS, CA / ACCESSWIRE / June 4, 2021 / 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.

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.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

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.

CONTACT:
Capstone Green Energy
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818-407-3628
ir@CGRNenergy.com