Capstone Green Energy (NASDAQ:CGRN) Receives Follow-on Order for 800kW Energy System at Korean Sewage Treatment Plant

Green Energy System Will Use Biogas to Generate Electric and Thermal Energy

VAN NUYS, CA / ACCESSWIRE / November 22, 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 as a service, today announced that its Distributor in Korea, CY Tech, has obtained a follow-on order for a Capstone 800kW green energy system for installation at the Noksan Sewage Treatment Plant in Busan, Korea. The new installation follows the successful implementation of a 600kW energy system at the Nambu Sewage Treatment Plant, which is also located in Busan.

According to the World Resource Institute, the world needs more energy to support growing populations and expanding cities. Using waste for energy is a cheap, renewable, and readily available form of energy for many cities. Since sewage treatment plants can use biogas generated from their own sludge to power their operations, it allows them to be energy self-sufficient. This ensures that a sewage plant’s primary function — removing pollutants and disease-causing pathogens — is not interrupted by surrounding power outages.

According to the EPA, methane makes up 16 percent of global greenhouse gas emissions, and it’s extremely potent-about 30 times more powerful than carbon dioxide. Sludge-to-energy systems harness this methane for energy instead of letting it escape into the atmosphere, where it would fuel climate change. Although methane releases carbon dioxide when harnessed for energy, the net emissions are negligible if methane-rich biogas is being used in place of fossil fuels in solutions like Capstone energy systems.

The Noksan site, which is capable of processing sludge at 160,000 m3/day, will use the biogas produced in the digestion process as fuel to provide on-site power for the 15-building treatment facility as well as the heat required for the digester. The new system will replace an aging digester with a new one in combination with the system installation.

Because the plant is located within the city of Gangseo-gu, Capstone Green Energy systems were selected for their low noise impact and low environmental impact. The system expansion is expected to be commissioned in September of 2022.

“The original Capstone Green Energy systems we installed has been working so well, we thought it was a sound investment to expand our capacity,” said Ohjun Kwon, Project manager of Busan Noksan Sewage Treatment Plant. “We chose Capstone’s technology for its strong performance, reliability, low noise, and minimal maintenance intervals, which have proven successful operation in several domestic sites.”

“Wastewater treatment plants like the one in Busan have a unique opportunity to take advantage of their methane-rich biogas, which offers a free, renewable fuel source for producing heat and electricity,” said Darren Jamison, Chief Executive Officer of Capstone Green Energy. “Not only does it help reduce operational costs, but it also provides an important step forward in the fight against climate change by eliminating waste gas, which could otherwise be a global warming pollutant.”

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.

For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

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.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Alisher Nurmat Joins Gevo as VP/Controller

ENGLEWOOD, Colo., November 22, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO), announced today that Alisher Nurmat, CPA has joined Gevo as VP/Controller. Mr. Nurmat brings more than thirty years of experience and leadership in accounting and audits, SEC reporting, SOX, tax, management accounting, ERP implementation and management, IT, and finance functions. Most recently, he served as the VP Finance and Corporate Controller at Gold Resource Corporation, where he improved and successfully managed corporate internal and external financial and accounting operations.

“I’m delighted to welcome Alisher to Gevo,” said Lynn Smull, Chief Financial Officer. “He has extensive experience leading accounting teams in the oil and gas, manufacturing, mining, and pipeline transportation industries. This includes publicly-held companies and companies with complex operations, including foreign subsidiaries. Alisher’s experience and expertise will greatly benefit Gevo and we look forward to working with him.”

“I am thrilled to join Gevo in this period of exciting growth,” said Mr. Nurmat. “I look forward to building partnerships, driving results, and providing mentorship for Gevo’s high performing corporate finance team.”

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo also plans to take advantage of decarbonization via geological sequestration in the future. Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions.

Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build- out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI.

Learn more at Gevo’s website: www.gevo.com

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the hiring of Alisher Nurmat, Gevo’s products, Gevo’s technology, Gevo’s ability to produce products with “net-zero” greenhouse gas emissions and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Gevo Investor and Media Contact

Heather L. Manuel

+1 720-418-0085

IR@gevo.com

Alisher Nurmat Joins Gevo as VP/Controller

ENGLEWOOD, Colo., November 22, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO), announced today that Alisher Nurmat, CPA has joined Gevo as VP/Controller. Mr. Nurmat brings more than thirty years of experience and leadership in accounting and audits, SEC reporting, SOX, tax, management accounting, ERP implementation and management, IT, and finance functions. Most recently, he served as the VP Finance and Corporate Controller at Gold Resource Corporation, where he improved and successfully managed corporate internal and external financial and accounting operations.

“I’m delighted to welcome Alisher to Gevo,” said Lynn Smull, Chief Financial Officer. “He has extensive experience leading accounting teams in the oil and gas, manufacturing, mining, and pipeline transportation industries. This includes publicly-held companies and companies with complex operations, including foreign subsidiaries. Alisher’s experience and expertise will greatly benefit Gevo and we look forward to working with him.”

“I am thrilled to join Gevo in this period of exciting growth,” said Mr. Nurmat. “I look forward to building partnerships, driving results, and providing mentorship for Gevo’s high performing corporate finance team.”

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo also plans to take advantage of decarbonization via geological sequestration in the future. Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions.

Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build- out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI.

Learn more at Gevo’s website: www.gevo.com

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the hiring of Alisher Nurmat, Gevo’s products, Gevo’s technology, Gevo’s ability to produce products with “net-zero” greenhouse gas emissions and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Gevo Investor and Media Contact

Heather L. Manuel

+1 720-418-0085

IR@gevo.com

Capstone Green Energy (NASDAQ:CGRN) Receives Follow-on Order for 800kW Energy System at Korean Sewage Treatment Plant

Green Energy System Will Use Biogas to Generate Electric and Thermal Energy

VAN NUYS, CA / ACCESSWIRE / November 22, 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 as a service, today announced that its Distributor in Korea, CY Tech, has obtained a follow-on order for a Capstone 800kW green energy system for installation at the Noksan Sewage Treatment Plant in Busan, Korea. The new installation follows the successful implementation of a 600kW energy system at the Nambu Sewage Treatment Plant, which is also located in Busan.

According to the World Resource Institute, the world needs more energy to support growing populations and expanding cities. Using waste for energy is a cheap, renewable, and readily available form of energy for many cities. Since sewage treatment plants can use biogas generated from their own sludge to power their operations, it allows them to be energy self-sufficient. This ensures that a sewage plant’s primary function — removing pollutants and disease-causing pathogens — is not interrupted by surrounding power outages.

According to the EPA, methane makes up 16 percent of global greenhouse gas emissions, and it’s extremely potent-about 30 times more powerful than carbon dioxide. Sludge-to-energy systems harness this methane for energy instead of letting it escape into the atmosphere, where it would fuel climate change. Although methane releases carbon dioxide when harnessed for energy, the net emissions are negligible if methane-rich biogas is being used in place of fossil fuels in solutions like Capstone energy systems.

The Noksan site, which is capable of processing sludge at 160,000 m3/day, will use the biogas produced in the digestion process as fuel to provide on-site power for the 15-building treatment facility as well as the heat required for the digester. The new system will replace an aging digester with a new one in combination with the system installation.

Because the plant is located within the city of Gangseo-gu, Capstone Green Energy systems were selected for their low noise impact and low environmental impact. The system expansion is expected to be commissioned in September of 2022.

“The original Capstone Green Energy systems we installed has been working so well, we thought it was a sound investment to expand our capacity,” said Ohjun Kwon, Project manager of Busan Noksan Sewage Treatment Plant. “We chose Capstone’s technology for its strong performance, reliability, low noise, and minimal maintenance intervals, which have proven successful operation in several domestic sites.”

“Wastewater treatment plants like the one in Busan have a unique opportunity to take advantage of their methane-rich biogas, which offers a free, renewable fuel source for producing heat and electricity,” said Darren Jamison, Chief Executive Officer of Capstone Green Energy. “Not only does it help reduce operational costs, but it also provides an important step forward in the fight against climate change by eliminating waste gas, which could otherwise be a global warming pollutant.”

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.

For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

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.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation