The Microturbine Will Provide Low Emission Electrical and Thermal Energy for the State-of-the-Art Plant
Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that Laibach d.o.o, Capstone's exclusive Distribution partner for Slovenia, Croatia, and Serbia, has secured an order for a Capstone C600 Signature Series microturbine system from Pomurske Mlekarne, a leading premium producer of dairy products. The 600kW system is expected to be commissioned in Spring 2023 at its Murska Sobota facility.
"The past year, through the ongoing effects of the Covid-19 pandemic and the war in Ukraine, has demonstrated the global interconnections of our food production and agricultural industries. With forward-thinking partners like Laibach and Pomurske Mlekarne, food production can be more energy efficient and help move countries and sectors closer to their carbon emissions targets," said Darren Jamison, Chief Executive Officer of Capstone Green Energy. "This recent order is another example of demand for our products and services from the commercial and industrial sector worldwide as companies seek to balance reliability, efficiency, and affordability. I appreciate our distributor's focus on educating and engaging these customers in Slovenia."
The project marks the first microturbine order from Pomurske Mlekarne and demonstrates the confidence that the customer has in Capstone’s product reliability and high availability. The C600S microturbine is part of a major modernization project that includes a state-of-the-art steam system. "We are happy to increase economy and efficiency at Pomurske Mlekarne, a company offering highly awarded dairy products, not only locally, but also exporting to Hong Kong, Macedonia and others," said Miro Murn, Director of Laibach.
Utilizing the heat by-product from a microturbine will allow operators to reduce emissions and offers cost savings by eliminating the need to produce heat or steam in a separate unit. While traditional electricity from the grid with coal and gas-fired plants produces power at 33% efficiency, Capstone’s combined heat and power (CHP) systems can reach efficiencies of more than 80%.
Another key factor in the equipment selection process was Capstone’s industry-leading comprehensive Factory Protection Plan (FPP) long-term service contract. The Capstone FPP provides customers’ needs to ensure the smooth operation of its system at a fixed cost over several years.
About Capstone Green Energy
Capstone Green Energy (NASDAQ: CGRN) 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) are 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.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's target for growth of its rental fleet and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the sufficiency of the Company's working capital to meet its rental fleet growth target; the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and departures and other changes in management and other key employees. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances, or future events, or for any other reason.
Capstone Green Energy
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