Capstone Green Energy (NASDAQ:CGRN) To Provide 600 kW Trigeneration Power System for Luxury Hotel in Colombia

 

Three C200S Microturbines Will Deliver Electricity, Chilled and Hot Water

VAN NUYS, CA / ACCESSWIRE / October 1, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), the world’s leading clean technology manufacturer of microturbine energy systems, announced today it has secured a contract with its distributor for Colombia and Venezuela, Supernova Energy Services, (www.supernova-es.com) for three 200-kilowatt (kW) microturbines to provide a 600 kW power system to a luxury hotel in Cartagena, Columbia. As one of the first of its kind in the country, the trigeneration system will use clean burning high pressure natural gas to provide highly efficient energy as well as both chilled and hot water for the complex as condensation from the air conditioning system will be cooled with water from the system. In addition, the customer intends to add on two additional C200 microturbines in the future to match expected growth in power demand. This would result in a total system size of 1-megawatt (MW).

“The project is not only important from a financial point of view, but also from an environmental angle,” said Nestor Moseres, President of Supernova Energy Services. “When fully operational, the carbon emissions will be reduced by approximately 40% from the baseline in the amount of an estimated 4,000 tons per year during the life of the project,” added Mr. Moseres.

Located in the Historic Center of Cartagena de Indias, the hotel is a restored structure more than 400 years old with limited available space for onsite power technology. Capstone’s microturbines were selected for their compactness and modularity, which enable up to 1 MW of generation to be produced through five 200kW modules without any loss of performance. In fact, this configuration actually maximizes the system’s overall reliability.

“We’ve been saying for years that hospitality is a prime industry for realizing maximum benefits from onsite green energy, including cost savings and increased resiliency,” said Darren Jamison, Capstone Green Energy President and Chief Executive Officer. “While both of these are critical for efficient operations, our green energy systems also offer enhanced environmental benefits. That’s no longer just a nice-to-have benefit for ‘feel good’ marketing. Consumers are now making decisions, including their lodging choices, by factoring in overall ‘greenness’, so this is another competitive advantage in hospitality and many other industries,” 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 life-cycle costs, as well as aftermarket parts. Energy Conversion Products 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 Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, 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 at 1,115,100 tons of carbon and $698 million in annual energy 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

	Image: Nat’l Renewable Lab Photostream (9/17/21)

Who Pays and Who Benefits from a Massive Expansion of Solar Power?

 

Electricity generation produces a quarter of U.S. greenhouse gas emissions that drive climate change. The electric grid is highly vulnerable to climate change effects, such as more frequent and severe droughts, hurricanes and other extreme weather events.

For both of these reasons, the power sector is central to the Biden administration’s climate policy.

 

This article was republished with permission from  The Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and thoughts of Felix Mormann Professor of Law, Texas A&M University

 

Reduced emissions and cleaner air help everyone, but who ultimately pays for public spending on this scale, and who will reap the economic benefits?

I have studied renewable energy for years, including the allocation of clean energy policies’ costs and benefits. My research focuses on direct economic benefits, such as government subsidies and tax breaks.

By proposing $350 billion in policy incentives, Biden is pushing solar further into the mainstream than ever before. Most of the costs and benefits of this massive solar play are distributed fairly, but I see room for improvement.

 

 

A Break for Lower-Income Households

Many clean energy policies, including renewable portfolio standards and net metering programs – strategies that dozens of states have adopted – pass their costs onto electricity customers. Renewable portfolio standards require utilities to source a certain share of their power sales from renewable sources. Net metering requires them to credit customers for generating electricity at home, typically from solar power, and feeding it back into the grid. In both cases, power companies bill their customers for associated costs.

It may seem sensible to ask electricity customers to pay for new resources, but rising electricity rates impose heavier burdens on lower-income households. Already, one-third of U.S. households struggle with energy poverty, spending disproportionately large shares of their income on basic energy needs. The Biden administration avoids such inequities by using tax dollars to fund its solar push.

Many low-income households contribute to federal tax revenue via payroll taxes, but most do not pay federal income tax. This largely leaves higher-income households to fill the federal tax coffers that finance solar incentives, which reduces the risk of widening the income and wealth gap.

A tenfold increase in solar power’s contribution to the U.S. electricity supply would require significant upgrades to the grid. But not all of these upgrades would be covered by incentives funded with tax dollars, so some would fall to ratepayers. To minimize burdens on lower-income households, the Clean Electricity Performance Program earmarks some of its incentives for electric utilities to help struggling electricity customers pay their power bills.

 

Direct Economic Benefits
are Less Widely Shared

While Biden’s proposed solar policies spread costs broadly across U.S. taxpayers, they allocate direct economic benefits more narrowly. The Clean Electricity Performance Program specifically targets electric utilities that sell power to homes, businesses and other end users.

Under the economic plan that Congress is now considering, utilities that grow the share of clean energy in their retail sales by a specified amount compared to the previous year would receive payments based on the amount of clean electricity they add. Utilities that fail to meet the growth target would pay penalties based on how far they fall short.

Electric utilities own many of the country’s existing, mostly fossil-fueled power plants. Most have been reluctant to promote solar, which would reduce demand for electricity from their own power plants.

But the Clean Electricity Performance Program does not cover another category of power company, called non-utility generators. Instead of selling power to end-use customers, these companies sell electricity to utilities, marketers or brokers. Non-utility generators provide over 40% of U.S. power and have driven much of the recent deployment in solar and other renewables.

 

 

Non-utility generators may benefit indirectly if utilities buy solar power from them to comply with the Clean Electricity Performance Program. But by focusing on utilities, the program threatens to alienate non-utility generators and stifle competition.

In contrast, tax credits for solar appear to offer economic benefits for a wide swath of taxpayers. In theory, anyone installing a new solar array on their rooftop or elsewhere earns tax credits for a portion of their investment. But I have found that, in practice, only those with higher tax bills can readily profit from these tax breaks.

Tax credits don’t normally have cash value – they merely reduce the amount you owe to Uncle Sam on April 15. A typical homeowner’s tax bill in the hundreds to low thousands of dollars is easily reduced to zero using part of the solar tax credit. But the remaining credit value will go unused, at least until subsequent tax years.

Since the tax code prohibits “selling” one’s tax credits, third-party financiers offer ways to structure solar projects so that the financier’s higher tax bill is used to monetize tax credits, passing part of the value onto homeowners. But such help comes at a price, diverting a significant portion of these tax incentives away from their intended use and beneficiaries.

 

 

How to Retarget Solar Policies

A large-scale expansion of solar power would be an important step toward a low-carbon economy with huge environmental benefits. A few tweaks could help make the Biden administration’s proposal more efficient and spread its benefits more widely.

As former President Barack Obama suggested in his 2016 budget proposal, solar tax credits should have a refundable cash value, like the child tax credit, that converts to cash if the recipients don’t owe enough taxes to use the credit. Lower-income households who install solar or buy into community solar projects could use this cash value to take immediate advantage of the credits, regardless of their tax bills.

Expanding the Clean Electricity Performance Program to bring non-utility generators into the fold would foster competition among power producers to help further reduce the cost of solar. Finally, since environmental justice is a central theme of Biden’s climate policy, it would make sense to add place-based incentives to the solar tax credit provisions that direct clean energy investment toward historically disadvantaged communities to make up for previous environmental injustices.

 

Suggested Reading:

The National Renewable Energy Lab Sees Potential to Increase U.S. Energy Storage 3000%

SEC Prioritizing ESG Investment Products May Uncover a Supply Problem

Big Tech Doing Whatever it Takes to Demonstrate Commitment to Green Solutions

Has 28 Years of Jumpstarting Renewable Energy Been Effective?

 

Stay up to date. Follow us:

 

Capstone Green Energy (NASDAQ:CGRN) To Provide 600 kW Trigeneration Power System for Luxury Hotel in Colombia

 

Three C200S Microturbines Will Deliver Electricity, Chilled and Hot Water

VAN NUYS, CA / ACCESSWIRE / October 1, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), the world’s leading clean technology manufacturer of microturbine energy systems, announced today it has secured a contract with its distributor for Colombia and Venezuela, Supernova Energy Services, (www.supernova-es.com) for three 200-kilowatt (kW) microturbines to provide a 600 kW power system to a luxury hotel in Cartagena, Columbia. As one of the first of its kind in the country, the trigeneration system will use clean burning high pressure natural gas to provide highly efficient energy as well as both chilled and hot water for the complex as condensation from the air conditioning system will be cooled with water from the system. In addition, the customer intends to add on two additional C200 microturbines in the future to match expected growth in power demand. This would result in a total system size of 1-megawatt (MW).

“The project is not only important from a financial point of view, but also from an environmental angle,” said Nestor Moseres, President of Supernova Energy Services. “When fully operational, the carbon emissions will be reduced by approximately 40% from the baseline in the amount of an estimated 4,000 tons per year during the life of the project,” added Mr. Moseres.

Located in the Historic Center of Cartagena de Indias, the hotel is a restored structure more than 400 years old with limited available space for onsite power technology. Capstone’s microturbines were selected for their compactness and modularity, which enable up to 1 MW of generation to be produced through five 200kW modules without any loss of performance. In fact, this configuration actually maximizes the system’s overall reliability.

“We’ve been saying for years that hospitality is a prime industry for realizing maximum benefits from onsite green energy, including cost savings and increased resiliency,” said Darren Jamison, Capstone Green Energy President and Chief Executive Officer. “While both of these are critical for efficient operations, our green energy systems also offer enhanced environmental benefits. That’s no longer just a nice-to-have benefit for ‘feel good’ marketing. Consumers are now making decisions, including their lodging choices, by factoring in overall ‘greenness’, so this is another competitive advantage in hospitality and many other industries,” 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 life-cycle costs, as well as aftermarket parts. Energy Conversion Products 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 Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, 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 at 1,115,100 tons of carbon and $698 million in annual energy 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

 

Capstone Green Energy (NASDAQ:CGRN) Supports Mexican Commercial and Industrial Sector’s Self-Generation Demand with a C800S Microturbine System

 

Capstone’s Shipped Fleet to Mexico Stands in Excess of 68 Megawatts.

VAN NUYS, CA / ACCESSWIRE / September 29, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that it has secured an order from DTC Ecoenergía (www.dtc.mx), Capstone’s exclusive distributor for Mexico, for a 5-bay C800 Signature Series microturbine system.

“The demand for high-efficiency cogeneration in Mexico is rapidly growing, due in part to the increase in energy demand and the tightening of environmental policies,” said Alejandro Muñoz, President of DTC Ecoenergía. “The solution offered by DTC through Capstone Green Energy has had an positive reception by the Mexican market, due to its efficiency in reducing polluting emissions, as well as its performance in reducing energy costs. All this translates to environmental and economic savings for users, while obtaining high-quality power and supply reliability.” He added, “We save the environment and our customer’s pockets.”

The agreement increases Capstone’s shipped fleet to Mexico to over 68 Megawatts (MW), of which 58 percent of DTC’s installed fleet is covered under a service contract, and reflects a growing need for reliable, cost-effective energy generation in the country. According to Mexico’s National Electrical System Development Program (Programa de Desarrollo del Sistema Eléctrico Nacional or PRODESEN), Mexico’s total generation capacity as of April 2021 reached 89,479 MW. This represented an increase of 7.6 percent over 2020. Of that amount, a total of 35.5 percent was from clean energy sources (renewable and non-renewable, such as nuclear and efficient cogeneration). Looking ahead, the International Energy Agency predicts that Mexico’s population will grow to over 150 million by 2050, predictably increasing energy demand, particularly in the industrial and commercial sectors, that accounts for 72 percent of overall electricity demand.

One of the core challenges faced by the manufacturing industry is the need for highly reliable energy solutions that not only reduce operational costs and increase reliability but also support sustainability goals. Capstone’s scalable on-site energy efficiency systems are engineered to meet the large electrical and thermal demand requirements of industrial manufacturers, delivering energy independence with higher operational efficiency than the local utility grid. A Combined Heat & Power (CHP) system supported by a five-bay Capstone C800S package is designed to provide both 24/7 reliable and continuous electrical power and thermal energy for processes and operations.

Utilizing the heat by-product from a microturbine allows facilities to reduce emissions and save added costs that would otherwise be required to produce heat or steam in a separate unit. While traditional electricity from the grid with coal and gas-fired plants produces power at 33% efficiency, Capstone CHP systems can reach efficiencies of more than 80%.

“This is an important inflection point for energy companies like Capstone Green Energy that can provide innovative, reliable, distributed power solutions,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “DTC has been a key partner for Capstone in offering their customers our highly reliable, low-emission technology that not only supports their environmental goals but also helps lower their energy costs while ensuring minimal downtime and production losses,” 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 life-cycle costs, as well as aftermarket parts. Energy Conversion Products 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 Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, 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 at 1,115,100 tons of carbon and $698 million in annual energy 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

 

Capstone Green Energy (NASDAQ:CGRN) Supports Mexican Commercial and Industrial Sector’s Self-Generation Demand with a C800S Microturbine System

 

Capstone’s Shipped Fleet to Mexico Stands in Excess of 68 Megawatts.

VAN NUYS, CA / ACCESSWIRE / September 29, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that it has secured an order from DTC Ecoenergía (www.dtc.mx), Capstone’s exclusive distributor for Mexico, for a 5-bay C800 Signature Series microturbine system.

“The demand for high-efficiency cogeneration in Mexico is rapidly growing, due in part to the increase in energy demand and the tightening of environmental policies,” said Alejandro Muñoz, President of DTC Ecoenergía. “The solution offered by DTC through Capstone Green Energy has had an positive reception by the Mexican market, due to its efficiency in reducing polluting emissions, as well as its performance in reducing energy costs. All this translates to environmental and economic savings for users, while obtaining high-quality power and supply reliability.” He added, “We save the environment and our customer’s pockets.”

The agreement increases Capstone’s shipped fleet to Mexico to over 68 Megawatts (MW), of which 58 percent of DTC’s installed fleet is covered under a service contract, and reflects a growing need for reliable, cost-effective energy generation in the country. According to Mexico’s National Electrical System Development Program (Programa de Desarrollo del Sistema Eléctrico Nacional or PRODESEN), Mexico’s total generation capacity as of April 2021 reached 89,479 MW. This represented an increase of 7.6 percent over 2020. Of that amount, a total of 35.5 percent was from clean energy sources (renewable and non-renewable, such as nuclear and efficient cogeneration). Looking ahead, the International Energy Agency predicts that Mexico’s population will grow to over 150 million by 2050, predictably increasing energy demand, particularly in the industrial and commercial sectors, that accounts for 72 percent of overall electricity demand.

One of the core challenges faced by the manufacturing industry is the need for highly reliable energy solutions that not only reduce operational costs and increase reliability but also support sustainability goals. Capstone’s scalable on-site energy efficiency systems are engineered to meet the large electrical and thermal demand requirements of industrial manufacturers, delivering energy independence with higher operational efficiency than the local utility grid. A Combined Heat & Power (CHP) system supported by a five-bay Capstone C800S package is designed to provide both 24/7 reliable and continuous electrical power and thermal energy for processes and operations.

Utilizing the heat by-product from a microturbine allows facilities to reduce emissions and save added costs that would otherwise be required to produce heat or steam in a separate unit. While traditional electricity from the grid with coal and gas-fired plants produces power at 33% efficiency, Capstone CHP systems can reach efficiencies of more than 80%.

“This is an important inflection point for energy companies like Capstone Green Energy that can provide innovative, reliable, distributed power solutions,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “DTC has been a key partner for Capstone in offering their customers our highly reliable, low-emission technology that not only supports their environmental goals but also helps lower their energy costs while ensuring minimal downtime and production losses,” 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 life-cycle costs, as well as aftermarket parts. Energy Conversion Products 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 Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, 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 at 1,115,100 tons of carbon and $698 million in annual energy 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

Gevo Awarded Patent for Process to Upgrade or Convert Ethanol and Bio-based Alcohols to Drop-In Hydrocarbon Fuels

 

ENGLEWOOD, Colo., Sept. 27, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO), announced that it has received a patent from the United States Patent and Trademark Office (“USPTO”) for a process that encompasses upgrading ethanol and bio-based alcohols into drop-in, bio-based diesel and jet-fuel products.

The USPTO has awarded Gevo U.S. Patent No. 11,078,433 titled “Conversion of Mixtures of C ₂ -C ₈ Olefins to Jet Fuel and/or Diesel Fuel in High Yield from Bio-Based Alcohols.” The patented process establishes a new technology and route to hydrocarbons that did not previously exist. This creates an opportunity for Gevo to diversify ethanol production to help meet increasing demand for renewable diesel and jet fuel.


Securing the patent falls in line with Gevo’s business model to develop, apply, and scale technology that can be used to produce drop-in hydrocarbon fuels. These fuels, when coupled with Gevo’s integrated-systems approach that includes regenerative agriculture and non-fossil-based renewable energy, could produce net-zero greenhouse gas (GHG) emissions over the lifecycle of the product.

“We have been working on the conversion of alcohols into hydrocarbons for many years. Ethanol, when produced using renewable energy in combination with other sustainable practices, could be a good feedstock. The technology in this patent is different from what others have done in that it provides high yields of quality diesel fuel, and can also produce SAF if we want,” says Dr. Patrick Gruber, Chief Executive Officer of Gevo. “We are believers in the ‘net-zero’ approach. We need to account for carbon and related emissions across the whole of the business system. We must pay attention to the source of renewable carbon and the energy involved with manufacturing fuel products. But that alone isn’t enough. We also have to pay attention to additional key sustainability attributes in the business system, like agricultural practices, land use, protein production, water, and all the rest. From our work on Net-Zero 1, we have a deep conviction that net-zero hydrocarbons are possible and commercially viable. We need to work to further decarbonize ethanol.”

“This patent covers technology that has the flexibility to make quality renewable diesel fuel or jet fuel from ethanol in a simple catalytic process. Producing renewable diesel makes sense in some regions of the world, whereas in others, producing high levels of jet fuel might be the right economic answer. There is a lot of overlap in the production technology used for the conversion of ethanol or isobutanol to hydrocarbons, so it shouldn’t surprise anyone that we would broaden our scope,” commented Dr. Paul Bloom, Chief Carbon and Innovation Officer of Gevo. “The combination of using decarbonized, plant-based alcohols, with our proprietary innovations to processing techniques known in the chemical industry can be a very powerful approach to dial-in the desired renewable hydrocarbon fuel product mix.

Gevo believes the grant of this patent adds additional value to the company’s intellectual property portfolio, which has previously been valued at greater than $400 million by Peak Value IP LLC in 2020.

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’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, including, without limitation, Gevo’s patent awards, Gevo’s patent portfolio, Gevo’s technology, Gevo’s products, the value of Gevo’s patents, Gevo’s ability to produce products with a “net-zero” greenhouse gas footprint, Gevo’s plans and strategy, 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.

Investor and Media Contact

+1 720-647-9605

IR@gevo.com

Gevo Awarded Patent for Process to Upgrade or Convert Ethanol and Bio-based Alcohols to Drop-In Hydrocarbon Fuels

 

ENGLEWOOD, Colo., Sept. 27, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO), announced that it has received a patent from the United States Patent and Trademark Office (“USPTO”) for a process that encompasses upgrading ethanol and bio-based alcohols into drop-in, bio-based diesel and jet-fuel products.

The USPTO has awarded Gevo U.S. Patent No. 11,078,433 titled “Conversion of Mixtures of C ₂ -C ₈ Olefins to Jet Fuel and/or Diesel Fuel in High Yield from Bio-Based Alcohols.” The patented process establishes a new technology and route to hydrocarbons that did not previously exist. This creates an opportunity for Gevo to diversify ethanol production to help meet increasing demand for renewable diesel and jet fuel.


Securing the patent falls in line with Gevo’s business model to develop, apply, and scale technology that can be used to produce drop-in hydrocarbon fuels. These fuels, when coupled with Gevo’s integrated-systems approach that includes regenerative agriculture and non-fossil-based renewable energy, could produce net-zero greenhouse gas (GHG) emissions over the lifecycle of the product.

“We have been working on the conversion of alcohols into hydrocarbons for many years. Ethanol, when produced using renewable energy in combination with other sustainable practices, could be a good feedstock. The technology in this patent is different from what others have done in that it provides high yields of quality diesel fuel, and can also produce SAF if we want,” says Dr. Patrick Gruber, Chief Executive Officer of Gevo. “We are believers in the ‘net-zero’ approach. We need to account for carbon and related emissions across the whole of the business system. We must pay attention to the source of renewable carbon and the energy involved with manufacturing fuel products. But that alone isn’t enough. We also have to pay attention to additional key sustainability attributes in the business system, like agricultural practices, land use, protein production, water, and all the rest. From our work on Net-Zero 1, we have a deep conviction that net-zero hydrocarbons are possible and commercially viable. We need to work to further decarbonize ethanol.”

“This patent covers technology that has the flexibility to make quality renewable diesel fuel or jet fuel from ethanol in a simple catalytic process. Producing renewable diesel makes sense in some regions of the world, whereas in others, producing high levels of jet fuel might be the right economic answer. There is a lot of overlap in the production technology used for the conversion of ethanol or isobutanol to hydrocarbons, so it shouldn’t surprise anyone that we would broaden our scope,” commented Dr. Paul Bloom, Chief Carbon and Innovation Officer of Gevo. “The combination of using decarbonized, plant-based alcohols, with our proprietary innovations to processing techniques known in the chemical industry can be a very powerful approach to dial-in the desired renewable hydrocarbon fuel product mix.

Gevo believes the grant of this patent adds additional value to the company’s intellectual property portfolio, which has previously been valued at greater than $400 million by Peak Value IP LLC in 2020.

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’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, including, without limitation, Gevo’s patent awards, Gevo’s patent portfolio, Gevo’s technology, Gevo’s products, the value of Gevo’s patents, Gevo’s ability to produce products with a “net-zero” greenhouse gas footprint, Gevo’s plans and strategy, 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.

Investor and Media Contact

+1 720-647-9605

IR@gevo.com

Gevo Acquires Butamax Patent Estate

 

ENGLEWOOD, Colo., Sept. 23, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) is pleased to announce that it has entered into an asset purchase agreement, dated September 21, 2021, with Butamax Advanced Biofuels LLC (“Butamax”) and its affiliate, Danisco US Inc., to acquire certain patents, leaving Gevo as the only entity with full rights to sublicense the entire Gevo/Butamax isobutanol and isobutanol derivatives patent estate in the fields of fuels, isooctane, industrial chemicals, isobutylene, oligomerized isobutylene, and para-xylene (the “Asset Purchase Agreement”). The transaction contemplated by the Asset Purchase Agreement closed on September 21, 2021 and is subject to certain existing rights and obligations.

The Asset Purchase Agreement provides Gevo with direct ownership and management over the entire known isobutanol patent portfolio of Butamax. Butamax previously entered into a patent cross-license agreement with Gevo effective as of August 22, 2015 (the “Patent-Cross License Agreement”). The Asset Purchase Agreement terminates the Patent-Cross License Agreement in most respects.

In 2020, Gevo commissioned Peak Value IP, LLC to complete a valuation of its worldwide intellectual property that could be licensed and monetized by Gevo. This valuation included the Butamax-owned patents available for Gevo to use and the Gevo-owned patents, patent applications, trade secrets, and know-how (collectively, the “IP”). Peak Value’s analysis yielded an indicative investment valuation of approximately $412 million for the full scope of the Gevo IP portfolio. The Butamax patent estate acquisition is expected to increase Gevo’s intellectual property value, now that Gevo owns the Butamax patents.

“Gevo is ‘all in’ on IBA-related technologies. We are finding strong commercial demand for our products. So, it simply makes sense for us to own the patent estate. In addition, it gives us more flexibility in adding to the combined patent estate and eliminates the complexity for out-licensing that existed under the Patent Cross-License Agreement,” commented Dr. Chris Ryan, President and Chief Operating Officer of Gevo.

For more information and details about the Asset Purchase Agreement and the termination of the Patent Cross-License Agreement, please see the Current Report on Form 8-K that Gevo filed with the U.S. Securities and Exchange Commission on September 23, 2021.

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’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 Asset Purchase Agreement, the termination of the Patent Cross-License Agreement, the acquisition of the patents from Butamax, Gevo’s control over patents for the production of renewable isobutanol, the benefits of the acquisition of patents, the IP evaluation performed by Peak Value IP, LLC, Gevo’s ability to monetize any patents, 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.

Investor and Media Contact

+1 720-647-9605

IR@gevo.com

 

Capstone Green Energy (NASDAQ:CGRN) Receives Two Orders for Innovative Carbon-Neutral Renewable Energy Systems

 

New Systems will Supply Cost-Effective, Clean Generating Power Using Innovative Biomass Fuels to Provide a Carbon-Neutral Solution

VAN NUYS, CA / ACCESSWIRE / September 23, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that it has received two orders for externally fired microturbines through its global energy conversion partner, Professor Dr. Berg & Kießling GmbH (B+K) as the generating component within the company’s innovative ClinX system.

The first ClinX system is for a metal processing plant in Brandenburg, Germany. The externally fired Capstone C65 will be part of a Combined Heat and Power (CHP) system that is expected to provide 80% of the facility’s electrical demand, and when adding energy storage, the system should meet all the electric demands of the facility. The system should also provide 100% of the heat required for the drying chambers used in the coating process. Fueled by wood chips sustainably harvested from surrounding forests, this renewable energy system will be completely carbon-neutral, helping the customer achieve its green energy goals.

The second system is part of an upgrade to an existing system currently installed at a municipal utility in Hessen, Germany. The upgraded CHP system will feature a Capstone C200 and use a variety of waste products (heterogeneous biomass) as a fuel by way of a pyrolysis process. Not only should the self-sufficient energy system generate 100% of the facility’s electricity, but it will also provide heat energy for the drying process that prepares the pyrolysis materials. Any unused waste heat can be converted into a higher-quality energy source of electricity.

Both systems are expected to be commissioned in early 2022.

“In the case of the metal processing plant, the shift to 100% renewable energy will have benefits beyond cost savings and energy efficiency, including expanding the company’s ability to bid on projects that have strict environmental requirements,” said Sebastian Kießling, Executive Partner at B+K. “For the municipal utility, the use of post-combustion power generation using an externally-fired microturbine will significantly improve the economics of the project.”

“Clearly, there are enormous upsides to carbon-neutral projects like these, and new partners like B+K are critical to the expanded solutions-based business model we launched on Earth Day earlier this year,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “Whether we’re talking about leveraging sustainable and renewable sources, waste byproducts, or hydrogen, fuel flexibility has always been at the very heart of our innovative microturbine technology. We’re excited that these projects demonstrate to other entities and businesses that the path to a green energy future can and does align with their financial goals.”

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 Conversion Products 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 Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, 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 at 1,115,100 tons of carbon and $698 million in annual energy 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

 

Capstone Green Energy (NASDAQ:CGRN) Receives Two Orders for Innovative Carbon-Neutral Renewable Energy Systems

 

New Systems will Supply Cost-Effective, Clean Generating Power Using Innovative Biomass Fuels to Provide a Carbon-Neutral Solution

VAN NUYS, CA / ACCESSWIRE / September 23, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that it has received two orders for externally fired microturbines through its global energy conversion partner, Professor Dr. Berg & Kießling GmbH (B+K) as the generating component within the company’s innovative ClinX system.

The first ClinX system is for a metal processing plant in Brandenburg, Germany. The externally fired Capstone C65 will be part of a Combined Heat and Power (CHP) system that is expected to provide 80% of the facility’s electrical demand, and when adding energy storage, the system should meet all the electric demands of the facility. The system should also provide 100% of the heat required for the drying chambers used in the coating process. Fueled by wood chips sustainably harvested from surrounding forests, this renewable energy system will be completely carbon-neutral, helping the customer achieve its green energy goals.

The second system is part of an upgrade to an existing system currently installed at a municipal utility in Hessen, Germany. The upgraded CHP system will feature a Capstone C200 and use a variety of waste products (heterogeneous biomass) as a fuel by way of a pyrolysis process. Not only should the self-sufficient energy system generate 100% of the facility’s electricity, but it will also provide heat energy for the drying process that prepares the pyrolysis materials. Any unused waste heat can be converted into a higher-quality energy source of electricity.

Both systems are expected to be commissioned in early 2022.

“In the case of the metal processing plant, the shift to 100% renewable energy will have benefits beyond cost savings and energy efficiency, including expanding the company’s ability to bid on projects that have strict environmental requirements,” said Sebastian Kießling, Executive Partner at B+K. “For the municipal utility, the use of post-combustion power generation using an externally-fired microturbine will significantly improve the economics of the project.”

“Clearly, there are enormous upsides to carbon-neutral projects like these, and new partners like B+K are critical to the expanded solutions-based business model we launched on Earth Day earlier this year,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “Whether we’re talking about leveraging sustainable and renewable sources, waste byproducts, or hydrogen, fuel flexibility has always been at the very heart of our innovative microturbine technology. We’re excited that these projects demonstrate to other entities and businesses that the path to a green energy future can and does align with their financial goals.”

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 Conversion Products 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 Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, 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 at 1,115,100 tons of carbon and $698 million in annual energy 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

Gevo Acquires Butamax Patent Estate

 

ENGLEWOOD, Colo., Sept. 23, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) is pleased to announce that it has entered into an asset purchase agreement, dated September 21, 2021, with Butamax Advanced Biofuels LLC (“Butamax”) and its affiliate, Danisco US Inc., to acquire certain patents, leaving Gevo as the only entity with full rights to sublicense the entire Gevo/Butamax isobutanol and isobutanol derivatives patent estate in the fields of fuels, isooctane, industrial chemicals, isobutylene, oligomerized isobutylene, and para-xylene (the “Asset Purchase Agreement”). The transaction contemplated by the Asset Purchase Agreement closed on September 21, 2021 and is subject to certain existing rights and obligations.

The Asset Purchase Agreement provides Gevo with direct ownership and management over the entire known isobutanol patent portfolio of Butamax. Butamax previously entered into a patent cross-license agreement with Gevo effective as of August 22, 2015 (the “Patent-Cross License Agreement”). The Asset Purchase Agreement terminates the Patent-Cross License Agreement in most respects.

In 2020, Gevo commissioned Peak Value IP, LLC to complete a valuation of its worldwide intellectual property that could be licensed and monetized by Gevo. This valuation included the Butamax-owned patents available for Gevo to use and the Gevo-owned patents, patent applications, trade secrets, and know-how (collectively, the “IP”). Peak Value’s analysis yielded an indicative investment valuation of approximately $412 million for the full scope of the Gevo IP portfolio. The Butamax patent estate acquisition is expected to increase Gevo’s intellectual property value, now that Gevo owns the Butamax patents.

“Gevo is ‘all in’ on IBA-related technologies. We are finding strong commercial demand for our products. So, it simply makes sense for us to own the patent estate. In addition, it gives us more flexibility in adding to the combined patent estate and eliminates the complexity for out-licensing that existed under the Patent Cross-License Agreement,” commented Dr. Chris Ryan, President and Chief Operating Officer of Gevo.

For more information and details about the Asset Purchase Agreement and the termination of the Patent Cross-License Agreement, please see the Current Report on Form 8-K that Gevo filed with the U.S. Securities and Exchange Commission on September 23, 2021.

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’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 Asset Purchase Agreement, the termination of the Patent Cross-License Agreement, the acquisition of the patents from Butamax, Gevo’s control over patents for the production of renewable isobutanol, the benefits of the acquisition of patents, the IP evaluation performed by Peak Value IP, LLC, Gevo’s ability to monetize any patents, 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.

Investor and Media Contact

+1 720-647-9605

IR@gevo.com