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Friday, Jun 9, 2023

Renewable Fuel Paves Way for Capstone Sale in Southern California

Capstone Green Energy Corp. received an order for a 3.4-megawatt microturbine system for a renewable energy customer in Southern California.

The order for three Capstone C1000S signature microturbines and  one C400S signature microturbine was secured by Cal Microturbine, the Van Nuys company’s West Coast distributor.

The four microturbines will provide power at the customer site using 100 percent renewable fuel, Capstone said in a release.

Jen Derstine, vice president of marketing and distribution at Capstone, said the order was indicative of the shift the company is seeing to more renewable energy projects.

“In fiscal 2019, renewables made up 7 percent of our overall business and in fiscal 2021 they made up 13 percent of our business,” Derstine said in a statement. “That should continue to grow based on incentives, access to renewable fuels and improvements in renewable energy technologies.”

Darren Jamison, Capstone chief executive, called his company’s products an important tool in the fight against climate change.

“On a business strategy level, particularly for those businesses in California, our technology makes meeting air quality regulations significantly less complicated and less costly than many alternatives currently on the market,” Jamison said in a statement.

Shares of Capstone (CGRN) closed down 12 cents, or 3.7 percent, to $3.16 on the Nasdaq, on a day when that market closed down 2.7 percent.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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