Benzinga | Jul 19, 2021 02:19PM EDT

Capstone Green Energy To Provide Hydrogen Blend Microturbines In Europe

* Capstone Green Energy Corp's (NASDAQ:CGRN) distributor in Austria and Germany, Wels Strom GmbH, secured a contract, for providing two C65 microturbines to Austrian company Innovametall Stahl- und Metallbau for use in an ultra-low emissions Combined Heat & Power (CHP) system.

* The microturbine system will be commissioned in October 2021.

* The system to be provided under this contract will offer efficient, on-site power to a powder coating production facility in Freistadt.

* It will be designed in a hybrid configuration in which solar panels installed on the roof of the Innovametall industrial hall will provide renewable electricity.

* In addition, Innovametall has purchased a 10-year Factory Protection Plan.

* Price action: CGRN shares are trading higher by 1.77% at $4.59 on the last check Monday.