CAPSTONE GREEN ENERGY CONTINUES ITS SUCCESS IN THE EAAS MARKET WITH A 1 MW ORDER FROM A GLOBAL OIL AND GAS COMPANY
Order Pushes Total EaaS Rental Contracts to More Than 50 MW
LOS ANGELES — (BUSINESS WIRE) — Capstone Green Energy Corporation (NASDAQ: CGRN), 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 order for a C1000S microturbine rental package for a leading global oil and gas technology company. The order will be deployed in an Ecuadorean oil field in early April.
“This recent order for a Capstone microturbine in Ecuador means that over the past three months, we have made sales, directly and in partnership with our distributors, on four continents. The value of Capstone technology is being recognized and used worldwide for its reliability under harsh conditions in remote settings, for the environmental benefits compared to legacy turbine technology, and its modular design, which allows customers to scale the product to suit their needs for on-site power generation,” said Darren Jamison, Capstone Green Energy’s President and CEO.
The 1 MW solution will be installed in a remote oilfield in the Ecuadorean jungle and will replace an existing diesel generator and produce clean and reliable electricity using associated gas directly from the pipeline. The power generated by the microturbines will provide 100 percent of the electricity needed to power on-site surface production equipment and the pump station.
The oilfield operators selected Capstone’s microturbine technology for its high reliability in the field as well as their ability to significantly reduce operational costs and flare emissions. Operators wanted a modular, reliable, and cost-effective solution to replace their high-maintenance genset. The microturbines, which have only one moving part and use no lubricants, are a low-maintenance solution, which is a key benefit given the site’s remote location.
“Capstone microturbine solutions are an ideal choice for oil and gas operators due to their low maintenance and high reliability. Microturbines can use associated natural gas as an input fuel source with minimal gas pre-treatment. This allows oil and gas customers to monetize the associated gas, keep operational costs low by avoiding extra fuel-cleaning equipment, and reduce any negative impact on the local environment,” concluded Gorgui Ndoye, Director of Business Development for Capstone Green Energy.