New rental deal for Capstone
By Jack Burke09 July 2021
Capstone Green Energy (formerly Capstone Turbine Corp.) signed a contract for a two MW long-term rental contract as it continues to expand its microturbine rental business as part of its growing Energy as a Service (EaaS) business model.
The new, multi-year rental contract provides two C1000 Signature Series microturbines scheduled to be installed by the end of the current fiscal year. They will be used in an industrial combined heat and power (CHP), energy efficiency application configured with 10 of Capstone’s Integrated Heat Recovery Modules (iHRM) to produce thermal energy. The customer will use the hot water generated from the units in its manufacturing process, thereby improving their overall energy efficiency, saving money, and reducing the site’s carbon footprint.
This contract was secured by Capstone’s local distribution partner, Cal Microturbine, Capstone’s exclusive distributor for California, Hawaii, and Nevada and nonexclusive for Oregon and Washington.
“Expanding Capstone’s Energy as a Service business, which includes the long-term rental program, is an important element for the company achieving its profitability goals. Capstone is a proud green energy company, having focused for a long time on transforming the way businesses think about on-site energy production,” said Darren Jamison, president and CEO of Capstone Green Energy. “Today, we are excited to be able to offer our customers Energy as a Service and strengthen our commitment to creating smarter energy for a cleaner future, as carbon reduction has increasing value to our customers.”