Capstone Green Energy Corporation (“Capstone,” the “Company,” “we” or “us”), a global leader in carbon reduction and on-site resilient green energy as a service (EaaS) solutions, announced that its southern U.S. Distributor, Lone Star Power Solutions has contracted with a remote data center in Louisiana to provide a 5-year rental of a Capstone C1000S microturbine system. This system is the second C1000S to be commissioned at this remote data center, with the first system having been commissioned back in October 2021.
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“We are now seeing multiple customers in this relatively new industry taking progressive steps to address their energy use, and using an existing waste stream as a fuel source is brilliant in my opinion”
Capstone Green Energy continues to expand its Energy as a Service (EaaS) business, including its long-term rental program, which is an important element in achieving its profitability goals as rentals generate higher contribution margin rates than traditional product sales. With this latest contract, the Capstone contracted rental fleet now stands at 21.1 MW. By offering customers Energy as a Service, Capstone Green Energy is strengthening its commitment to creating smarter energy for a cleaner future, as carbon reduction continues to have ever-increasing value to global customers.
This customer, which is located on an oil and gas well and handles large volume blockchain and cryptocurrency mining, approached Lone Star looking for an innovative way to take advantage of their existing on-site production gas, a byproduct that would otherwise go to waste. Because Capstone microturbines are designed to offer fuel flexibility, the system will use the waste gas, essentially as free fuel, a benefit that not only reduces emissions but also offers operational savings. Further, the added reliability and low maintenance requirements of microturbine-based systems make them an ideal solution for remote locations, which can be hard to reach and often deal with challenging climate conditions.
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Cryptocurrency mining is the process by which new crypto “coins” are entered into circulation. Their production requires highly sophisticated computers, often in a data center, to solve complex computational math problems. By their very nature, data centers, like the one in Louisiana, require tremendous amounts of electricity. At a time when the utility grid is strained due to extreme weather, aging infrastructure, and inadequate transmission, on-site power provides a resilient alternative for energy-intensive facilities.
“The operational success of the first unit installed last October and its ability to operate on a wide variety of fuel sources was an integral part of our customer’s decision to add a second unit,” said Doug Demaret, President of Lone Star Power Solutions. “Capstone’s innovative products allow Lone Star Power Solutions to provide its customers with 100% uptime, extremely low emissions, and infrequent visits under the harshest conditions, allowing our customers to focus on their core business.”
“We are now seeing multiple customers in this relatively new industry taking progressive steps to address their energy use, and using an existing waste stream as a fuel source is brilliant in my opinion,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “Doing so not only dramatically reduces emissions but also provides the customer with essential operational benefits like added power security and reduced maintenance costs,” concluded Mr. Jamison.
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