System Represents a New Energy Concept in Its Configuration To Produce Steam
VAN NUYS, CA / ACCESSWIRE / December 3, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), ("Capstone," the "Company," "we" or "us"), a global leader in carbon reduction and on-site resilient green energy solutions, today announced that its Distributor in Austria and Germany, Wels Strom GmbH (www.eww.at/ueber-uns/wels-strom-gmbh) has been contracted by IFG Asota (part of the International Fibres Group) to provide a Combined Heat and Power (CHP) system plus a 10-year Factory Protection Plan for their fiber manufacturing plant in Linz, Austria.
The new system will be built around a Capstone C600S, which will provide on-site power for the facility operations and manufacturing process. It will also be configured to channel the exhaust heat to a boiler to produce steam for the plant's production machines. This is a new energy concept for this kind of application as the exhaust gas is fed to the waste heat flue of the steam boiler via an exhaust pipe. In order to use the residual heat after the waste heat flue, IFG Asota will install a new low-temperature system for the production.
IFG Asota selected Capstone's energy system for the various ways the technology supports the company's sustainability commitment. The combination of the energy system and steam boiler provides a highly efficient, low emissions solution. Further, a portion of the fuel used by the Capstone system will be hydrogen, which is considered a renewable resource that produces no CO2 emissions.
The contract includes Capstone's 10-year Factory Protection plan, or FPP, a comprehensive maintenance program designed to give financial peace of mind to Capstone customers by providing product life cycle costs at a fixed rate for both scheduled and unscheduled maintenance for the life of the energy system. The FPP also protects customers from potentially dramatic future increases in life cycle costs associated with changes in replacement spare parts pricing, commodity price increases, import tariffs, and interest rate changes.
"We look forward to building a highly efficient and sustainable energy supply together with IFG Asota," said Christian Steininger, Head of Energy Solutions Sales at Wels Strom GmbH.
"Manufacturing plants like IFG Asota's have enormous potential for realizing the cost, efficiency, and sustainability benefits," said Darren Jamison, Chief Executive Officer of Capstone Green Energy. "While different sectors and different sites have their own unique processes and needs, our energy systems are highly adaptable and can be configured to maximize existing resources or leverage new ones."
About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (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.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated to be approximately $698 million in energy savings and approximately 1,115,100 tons of carbon savings.
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 expectations for green initiatives and execution on the Company's growth strategy 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 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 the impact of pending or threatened litigation. 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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