Capstone Green Energy Secures a New 600 kW EaaS Contract as Rental Contracts Surge to 35.4 MW, a 37% One-Quarter Increase

Capstone Green Energy Secures a New 600 kW EaaS Contract as Rental Contracts Surge to 35.4 MW, a 37% One-Quarter Increase
CANNANNEW REPORT

Capstone is Focused on Growing the EaaS Business Model as Quickly as Possible Because it Provides Higher Margins, More Constant and Predictable Revenue Streams VAN NUYS, Calif.–(BUSINESS WIRE)–$CGRN #EnergyAsAService—Capstone Green Energy Corporation’s (NASDAQ: CGRN) exclusive distributor for Alaska, Artic Energy, has secured a new 12-month Energy-as-a-Service (EaaS) rental contract with a local oil and gas company headquartered in Anchorage. The oil exploration company has established a dominant acreage position on the resource-rich North Slope, home to the largest oil fields in North America, and is looking to reduce its environmental impact. This contract signifies continued EaaS business expansion due to ongoing customer demand and demonstrates progress on the Company’s vision to create smarter energy for a cleaner future and builds on its track record of saving its customers an estimated $698 million in annual energy costs and reducing CO2 emissions by more than 1,115,100 in the past three years. “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 today contracts in excess of 35 MW, representing nearly 37% growth in one quarter alone,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “Our EaaS business provides a lower cost and carbon footprint for on-site energy systems in energy-intense businesses like oil and gas, hospitality, commercial, industrial, cannabis, and bitcoin mining which meets multiple needs of existing and prospective customers,” added Mr. Jamison. Capstone is focused on growing our EaaS business because it provides higher margins, more constant and predictable revenue streams, and allows for a more streamlined staffing model than a traditional industrial manufacturing company while helping customers manage capital costs and meet their environmental impact targets. As part of this growth strategy, Capstone management…

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Source : Capstone Green Energy Secures a New 600 kW EaaS Contract as Rental Contracts Surge to 35.4 MW, a 37% One-Quarter Increase

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