Benzinga | Jul 9, 2021 12:14PM EDT

Capstone Green Energy Secures 2 MW Long-Term Rental Contract

* Capstone Green Energy Corp (NASDAQ:CGRN) signed a contract for a two megawatt (MW) long-term rental contract, expanding its microturbine rental business as part of its Energy as a Service (EaaS) business model.

* The multi-year rental contract provides two C1000 Signature Series microturbines scheduled to be installed by the end of the current fiscal year.

* The contract was secured by Capstone's local distribution partner, Cal Microturbine, Capstone's exclusive distributor for California, Hawaii, and Nevada and nonexclusive for Oregon and Washington.

* Price Action: CGRN shares traded higher by 2.78% at $5.37 on the last check Friday.