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Business

Akanksha Bakshi

Capstone To Provide Systems To Japanese Industrial Manufacturer

Japan Capstone (Organization) CGRN CHP Capstone Green Energy Corp

Capstone Green Energy Corp (NASDAQ:CGRN) Japan distributor Kanamoto secured a contract to provide seven C65 microturbine systems to a Japanese firm in the chemical industry. Financial terms were not disclosed.
Out of 44 Capstone units currently in operation at the Japanese site, the new systems will replace seven units that have reached 80,000 hours of continuous service.
"The implementation of a CHP system is an efficient, cost-effective investment an industrial site can make to improve its financial bottom line." said CEO Darren Jamison.
The new systems are expected to be commissioned in July 2022.
Fueled by high-pressure natural gas (HPNG), the new systems will be designed to provide Combined Heat and Power (CHP), providing maximum efficiency in the production process for which the power will be used.
Price Action: CGRN shares are trading higher by 4.2% at $3.47 on the last check Monday.

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