Benzinga | Aug 23, 2021 12:39PM EDT

Capstone Green Expands Rental Fleet With New Contract In Louisiana

* Capstone Green Energy Corp's (NASDAQ:CGRN) southern U.S. distributor, Lone Star Power Solutions, has contracted with a remote data center in Louisiana to provide a long-term rental of a Capstone C1000S microturbine system. The financial terms of the contract were not disclosed.

* Capstone microturbine rental fleet now stands at 13.1 MW with this contract, aiming to expand to 21.1 MW by March 31, 2022.

* The customer, located on an oil and gas well and handles large volume blockchain and cryptocurrency mining, had approached Lone Star looking for a way to take advantage of their existing on-site production gas. This byproduct would otherwise go to waste.

* The system is expected to be commissioned in October 2021.

* Price Action: CGRN shares are trading higher by 0.72% at $4.18 on the last check Monday.