Capstone Turbine Corp. received an order for a fourth microturbine from a California-based cannabis grower.
The order for the 1-megawatt C1000 Signature Series microturbine was secured by Cal Microturbine, Capstone’s exclusive distributor in the Western U.S. The microturbine is expected to be operational this summer.
Chief Executive Darren Jamison said that while the Van Nuys manufacturer has seen a slowdown in hospitality, health care and oil and gas markets due to the coronavirus outbreak, it has seen steady business from cannabis and beer manufacturing customers.
“As the U.S. and other countries begin to reopen, we are starting to see industrial manufacturers and municipalities coming back online at a faster pace,” Jamison said in a statement.
Four C1000 Signature Series microturbines will provide prime power to the cannabis growing operation. The microturbines will be installed in a highly efficient combined cooling, heat and power application that allows the customer to utilize exhaust energy for space conditioning, chilled or hot water, and dehumidification, Capstone said.
Shares of Capstone (CPST) closed down 6 cents, or more than 2 percent, to $2.50 on the Nasdaq, on a day when that market closed down 1 percent.