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Wednesday, Oct 4, 2023

Capstone Green Energy Wins New Orders

Capstone Green Energy Corp. continued to grow its energy-as-a-service business with new rental orders from four U.S.-based oil and gas customers.

The Van Nuys green energy products manufacturer will provide 1.4 megawatts of power to a location in Louisiana to be deployed next year; an additional six C65 microturbines in the U.S. shale fields; and 400 kilowatts of power generation to an oil and gas operator on the North Slopes of Alaska at a existing rental location, according to a release from the company.

Marc Rouse, Capstone’s sales director, said the total 2.2 megawatts of power to be deployed further diversifies the rental fleet’s customer base, now covering all major market verticals: oil and gas, agriculture, hospitality, data centers as well as commercial and industrial sites.

“The rental program eases access to Capstone’s premium product, allowing customers to enjoy the benefits of clean, low cost, reliable power where capital is limited or competing for other spends,” Rouse said in a statement.

The 1.4 MW solution, which features a Capstone C800 and C600 Signature Series microturbine, will produce clean and reliable electricity using natural gas directly from the pipeline. The power generated by the microturbines will provide 100% of the electricity needed to power on-site pumping equipment such as coolers, motors, pumps, and lights, in addition to an on-site office, according to the Capstone release.

The additional C65 rental contracts will be deployed across various oil and gas sites and be fueled by natural gas directly from the well sites. This allows customers to keep operational costs low by avoiding extra fuel-cleaning equipment and significantly reducing the negative impact on the environment, the Capstone release added.

Shares in Capstone (CGRN) closed down 6 cents, or about 2.3%, to $2.51 on the Nasdaq yesterday, on a day when that market closed up at almost 1.7%.

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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