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11/15/2021 | 10:31am EST

VAN NUYS - Capstone Green Energy Corporation (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 Romania, Servelect, has signed a contract to provide a Combined Heat and Power (CHP) system to Compania Aquaserv S.A., a wastewater treatment plant operator in Mures County, Romania.

The new utility grid-connected system will be built utilizing one Capstone Green Energy C600S microturbine and one C200S microturbine. All the energy produced on-site will be used within the wastewater treatment plant. The C600S unit will be fueled by the biogas resulting from anaerobic fermentation of sludge, while the C200S unit will use high-pressure natural gas from the local Romanian Distribution Network Operator (DNO).

This green energy project was pursued as it became clear that the site's existing internal combustion engine cogeneration plant was reaching the end of its lifecycle. At the same time, rising electricity prices combined with investment opportunities for wastewater treatment cogeneration projects made it an ideal time for Compania Aquaserv S.A. to look for a more efficient and advanced cogeneration technology. The project is funded by the European Economic Area (EEA) and Norwegian grants. The EEA and Norwegian grants represent the contribution of Iceland, Liechtenstein, and Norway to reduce economic and social disparities in the European Economic Area and to strengthen bilateral relations with the 15 beneficiary states in Eastern and Southern Europe and the Baltic States.

'Producing biogas from municipal wastewater sludge is a well-known and widely used approach,' said Csaba Bauer, Head of Wastewater Treatment Department of Compania Aquaserv S.A. 'Compania Aquaserv S.A. has over 20 years of experience using biogas in cogeneration plants to cover its energy consumption and thermal needs. In this way, we can optimize our operational costs for public sewage service, making it more affordable for the public,' added Mr. Bauer.

The system will include two compressors that will increase the pressure of both the biogas and natural gas. To provide maximum efficiency, the two Capstone Green Energy CHP systems will be directed to a recovery boiler by a manifold; in addition, the hot water produced will be used in the sludge drying process. Together with the compressors and the recovery boiler, the two CHP units will be integrated within the site's existing Supervisory Control and Data Acquisition (SCADA) system. This allows for both local and remote monitoring, as well as manual and automatic operating modes. All together, the system is designed to provide 800 kWe electric and 1500 kWth thermal power. It is expected to be commissioned in March 2022.

'We are very excited to implement one of the first Capstone Green Energy cogeneration plants within a wastewater treatment plant in Romania. Servelect has been Aquaserv's reliable partner since the beginning of the project, starting with the feasibility study, elaboration of the financing application, and now with the technical design and the actual implementation of the project,' said Iulia Bargauan, General Director of Servelect. 'The new system will provide Aquaserv with cost savings, energy efficiency, and reduced carbon emissions,' added Ms. Bargauan.

'Wastewater treatment plants are among the best candidates for this kind of highly efficient green energy project. Not only is biogas a free, renewable fuel source for producing heat and electricity, it also eliminates the waste gas, which could otherwise be a global warming pollutant,' said Darren Jamison, Chief Executive Officer of Capstone Green Energy. 'The kind of energy efficiency we can achieve at sites like Aquaserv S.A. offers the potential for greater operational cost savings, and with the kind of incentives that are currently available in many regions, the return on investment can be substantial,' concluded Mr. Jamison.

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 lifecycle 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. 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.


Tel: 818-407-3628

Email: ir@CGRNenergy.com

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2022 75,7 M - -
Net income 2022 -14,9 M - -
Net Debt 2022 - - -
P/E ratio 2022 -3,02x
Yield 2022 -
Capitalization 48,1 M 48,1 M -
Capi. / Sales 2022 0,64x
Capi. / Sales 2023 0,52x
Nbr of Employees 123
Free-Float -
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Last Close Price 3,16 $
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Managers and Directors
Darren R. Jamison President, Chief Executive Officer & Director
Frederick S. Hencken Chief Financial Officer
Robert C. Flexon Chairman
Don Ayers Vice President-Technology
Kirk C. Petty Senior Vice President-Operations