Reliability, Fuel-Flexibility and Lower Carbon Emissions Factored into Purchase Decision
Capstone Green Energy Corporation (NASDAQ:CGRN) announced that Optimal Group, Capstone's authorized distributor in Australia, New Zealand, the Republic of Fiji and Papua New Guinea, received an order for a C800 Signature Series microturbine to power a remote oil and gas site and provide ancillary power to a compressor station. This is the fifth microturbine order from this customer and is expected to be commissioned in October 2023.
Australia, like many other countries, is seeking to decarbonize, and the Australian oil and gas industry is working to do its part. Capstone's green energy solutions align perfectly with the needs of the oil and gas industry and are currently used in all phases of production including upstream, midstream, and downstream operations in both onshore and offshore applications.
"Capstone microturbines are popular with energy producers for a reason. Our microturbines are known for their reliability and low maintenance requirements, in addition to a low carbon profile, all of which are essential for our customers who operate remote oil and gas sites, often in harsh conditions. In addition, the turbines can run on different types of fuel which can be particularly appealing at drilling sites," said Darren Jamison, President and CEO of Capstone Green Energy.
"Many of the world's largest energy companies are posting record 2022 profits, following a year of volatile fossil fuel prices amid Russia's war in Ukraine. This is creating an increase in proposal activity for us in our oil and gas markets internationally, like today's follow-on order from Australia and here at home, which is illustrated by the recent follow-on order from a leading U.S. oil and gas producer in the Marcellus Shale Play that added to its extensive fleet of Capstone systems," added Jamison.
Capstone microturbines offer flexible, responsive power generation that can easily adjust to fluctuating or seasonal energy demands, reducing fuel usage and maintaining high levels of efficiency. This helps customers meet their environmental goals and be climate-friendly leaders.
"This is the fifth Capstone microturbine order from this customer, having been selected to drive emissions reductions and improve reliability for remote, unmanned locations in some of the harshest regions on the planet. Modular Capstone C1000 series turbines enable each site to be supplied with a uniform package, but tailored to each site's maximum power demand," said Kane Ravenscroft, Sales and Marketing Director for Optimal Group. "As the power demand fluctuates seasonally, this provides the capability to switch off excess modules, conserving fuel and cutting emissions."