Capstone Green Energy Corporation, a global leader in carbon reduction and on-site resilient green energy solutions, continues to grow in the Energy-as-a-Service (EaaS) market with newly secured orders totaling approximately 2.2 MW from four U.S.-based oil and gas customers.
The new orders include:
“This 2.2 MW rental expansion into the oil and gas market 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,” said Marc Rouse, Capstone Green Energy’s Sales Director.
“Capstone is seeing strong customer demand across industries for its EaaS long-term rental services, which had 7 MW under contract in March 2021, 26 MW under contract in March 2022, and 34 MW under contract at the end of July,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “The successful closing of our $8 million underwritten public offering combined with sourcing additional re-rent units allows us to continue to focus on achieving our previously announced next target of a 50 MW rental fleet, including re-rentals.”
The 1.4 MW solution, which features a Capstone Green Energy C800 and C600 Signature Series microturbine will replace an existing rental reciprocating Genset and produce clean and reliable electricity using natural gas directly from the pipeline. The power generated by the microturbines will provide 100 percent of the electricity needed to power on-site pumping equipment such as coolers, motors, pumps, and lights, in addition to an on-site office.
The facility operators wanted a modular, reliable, and cost-effective solution to replace their high-maintenance reciprocating Genset. The microturbines, which have only one moving part and use no consumables or lubricants, are a low-maintenance solution, which is a key benefit given the site’s remote location. Compared to the former gensets, the new microturbine solution will operate with N+1 redundancy and can be easily expanded.
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.
“Facing growing pressure to address climate change, oil and gas companies are pledging to prepare for a ‘lower-carbon’ future. For many, that involves investing in new technologies and infrastructure that can support new, greener ways of generating electricity. These are the key areas in which Capstone Green Energy has built its business and where it continues to innovate,” concluded Jamison.
Capstone Green Energy 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 Generation Technologies (EGT) is 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 Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.
To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22, it saved customers over $213 million in annual energy costs and approximately 388,000 tons of carbon. Total savings over the last four years are estimated to be approximately $911 million in energy savings and approximately 1,503,100 tons of carbon savings.
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