Capstone Turbine Corp. and Argonne National Laboratory have received funding from the Department of Energy to adapt the lab’s thermal energy storage system for use in manufacturing applications, the company announced Thursday.

Van Nuys-based Capstone, which makes electricity-generating turbines, will create a system that with “Argonne’s high-efficiency, fast-charging, and fast-discharging thermal energy system for waste heat recovery and reuse in projects that require process heat and industrial manufacturing environments,” the company said.

Specifically, the system will incorporate Capstone C200 turbines with Argonne’s system to create a “thermal battery” for storing and recovering energy.

“Storing thermal energy and using it during periods of high electricity pricing can result in significant cost savings. This is particularly important for process and manufacturing industries and building applications, as it reduces costs and increases energy efficiency,” Argonne Principal Investigator Dileep Singh said in a statement.

Shares of Capstone (CPST) closed Thursday down 2 cents, or 2 percent, to 90 cents on the Nasdaq.