Capstone Green Energy Corporation (CGRN) saw a decline of 5.76% in the premarket. However, the last trading session closed at $5.9 with an increase of 2.97%.
CGRN to report Second Quarter 2021 Results
On 29th October 2021, CGRN announced that it expects to release full financial results for its second quarter of the fiscal year 2022 on Wednesday, November 10, 2021, after market closure. Capstone will offer a live webcast to discuss the results later that day at 1:45 p.m. Pacific Time (4:45 p.m. Eastern Time). Moreover, Capstone will offer a question-and-answer session at the conclusion of the conference call, giving financial analysts the opportunity to ask questions. Logging on to the Company’s investor relations homepage, investors and interested others can listen to the webcast.
Power Cutting Edge Microgrid
CGRN reported on 28th October 2021 that three C65 microturbines have been ordered for a cutting-edge microgrid with integrated electric vehicle (EV) charging stations in Italy. IBT collaborated with S4E System, a national ESCO, to create a combined cooling, heat, and power (CCHP) microgrid system, which is one of the first of its type in Italy. The project is planned to be completed in March 2022 and will cut greenhouse gas emissions at the site by more than 1,000 tons per year.
Moreover, customers are invited to collaborate with the company and the experienced distributors, like IBT. This will help in building smarter energy solutions that will help customers reduce their carbon footprint, boost cost savings, and add robustness to their businesses. The development of this novel CCHP microgrid system with integrated EV charging reflects how clients perceive their companies, with an increased need for green and sustainable solutions.
Channel Partnership with Baker Hughes (BKR) Expanding Territories
CGRN announced on 27th October 2021 that it has renewed its strategic channel partnership arrangement with Baker Hughes. Capstone said on Earth Day 2021 that the Baker Hughes 5 MW, 12 MW, and 16 MW industrial gas turbines will be added to its energy conversion and storage portfolio. Baker Hughes was chosen as a certified network partner by Capstone because they share a commitment to low emissions, extended service intervals, low lifecycle costs, and a robust hydrogen research program.
Moreover, Capstone Green Energy’s large-scale gas turbine technology enables the firm to service clients whose energy demands surpass the capability of their own low-emission microturbine-based energy solutions. Capstone Green Energy will supply Baker Hughes technology to more regions in the United States and Canada, as well as on a case-by-case basis outside of North America, as part of the new deal.