Capstone Green Energy Corporation (CGRNQ) (2024)

LOS ANGELES--(BUSINESS WIRE)--Capstone Green Energy Holdings, Inc. (the "Company"), the public successor to Capstone Green Energy Corporation, is pleased to announce the filing today of its quarterly reports on Form 10-Q for the quarter ended June 30, 2023 and the quarter ended September 30, 2023, reports with the United States Securities and Exchange Commission (SEC). These are the first two quarters of the Company's fiscal year ended March 31, 2024.

"Filing these Form 10-Q quarterly reports is a significant step toward achieving SEC compliance. Our immediate focus is now on submitting the remaining SEC reports needed to bring the Company current and in compliance with the SEC reporting requirements for a public company. We will then concentrate on taking other necessary steps to facilitate trading our common stock in a public, over-the-counter market," stated John Juric, Capstone's Chief Financial Officer.

Vince Canino, President and Chief Executive Officer of Capstone, stated, "We take yet another step toward our SEC compliance goal. The effort involved requires acute attention to detail, and we are proud to celebrate the efforts of our finance organization for this accomplishment. As we work towards completing all of our outstanding filings, we will continue to double our efforts on growing the business so that we can strengthen our performance and financial health. We see great opportunities in the marketplace as the demand for distributed generation and microgrids are increasingly becoming an important part of the equation to meet global power needs resulting from AI and cleantech manufacturing growth. We are confident that our initiatives focusing on cutting-edge cleantech solutions will help solve the trilemma of resiliency, sustainability, and affordability as well as create new market opportunities. This commitment to innovation and sustainability is essential to our long-term success. We greatly appreciate our shareholders' continued support and patience as we work through this critical phase."

Additional Information

The Company is the public successor to Predecessor Capstone (CGRN) for SEC reporting purposes. Once the Company completes its filings for Fiscal Year 2024, it expects that it will be eligible to obtain quotation of its common stock on the OTC Pink Market. The CUSIP number for the Company's common stock following the reorganization transactions consummated in December 2023 is 14067D607, and the ISIN number is US14067D6076.

About Capstone Green Energy

For over three decades, Capstone Green Energy has been at the forefront of microturbine technology, revolutionizing how businesses manage their energy supply. In partnership with our worldwide team of dedicated distributors, we have shipped over 10,000 units to 83 countries, providing environmentally friendly and highly efficient on-site energy systems and microgrid solutions.

Today, our commitment to a cleaner future is unwavering. We offer customers a range of commercial, industrial, and utility-scale options tailored to their specific needs, ranging from 65kW to multiple MWs. Capstone's product portfolio not only showcases our core microturbine technology but also includes flexible Energy-as-a-Service (EaaS), which includes a build, own, and operate models as well as rental services.

In our pursuit of cutting-edge solutions, we've forged strategic partnerships to extend our impact. Through these collaborations, we proudly offer renewable gas products along with heat recovery solutions that enhance the sustainability and efficiency of our client's operations, contributing to a cleaner and more responsible energy landscape.

Capstone offers fast, turnkey power rental solutions for customers with limited capital or short-term needs; for more information, contact rentals@CGRNenergy.com.

For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Notes

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the filing of delinquent SEC reports, the Company’s expectations regarding future trading of its common stock on an over-the-counter market and the other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the Company’s liquidity position and ability to access capital; the Company’s ability to continue as a going concern; the Company’s ability to successfully remediate the material weaknesses in internal control over financial reporting; the Company’s ability to realize the anticipated benefits of its financial restructuring; the Company’s ability to comply with the restrictions imposed by covenants contained in the exit financing and the new subsidiary limited liability company agreement; employee attrition and the Company’s ability to retain senior management and other key personnel following the restructuring; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the impact of litigation and regulatory proceedings; risks related to the previously announced restatement (including delay in the filing of late Form 10-K’s and Form 10-Q’s due to the Company’s efforts to complete the restatement; the time, costs and expenses associated with the restatement; inquiries from the SEC; the potential material adverse effect on the price of the Company’s common stock and stockholder lawsuits). For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the risk factors contained in our most recent Annual Report on Form 10-K. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circ*mstances or future events or for any other reason.

The Company reminds investors that, although the Company is today filing its quarterly reports for the first two fiscal quarters of its fiscal year ended March 31, 2024 (FY24), the Company is not yet current in its SEC filings. The Company cautions investors and prospective investors that its operating results for, and its financial condition as of the end of, the fiscal quarters included in the quarterly reports filed today may not be indicative of its financial results for, and financial condition as of the end of, the fiscal quarters and fiscal year that have not yet been reported, and the Company cautions investors and prospective investors not to place undue reliance on the financial and other information contained in the quarterly reports filed by the Company today.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240802983954/en/

Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

Source: Capstone Green Energy Holdings, Inc.

Released August 5, 2024

Capstone Green Energy Corporation (CGRNQ) (2024)

FAQs

What happened to Capstone Green Energy? ›

Capstone Green Energy successfully concluded its Chapter 11 bankruptcy restructuring on December 7, 2023. For detailed information, you can refer to the official press release here. As part of the restructuring, Capstone substantially reduced its indebtedness and secured an additional $7 million in new financing.

What happened to Capstone stock? ›

Nasdaq delisted Capstone (CGRN), and trading in the Company's common stock on the Nasdaq was suspended, effective on October 5, 2023.

What does Capstone Green Energy do? ›

Capstone Green Energy Corp (Capstone) is a turbine manufacturing company. It develops, manufactures, markets and services low emission microturbine technology solutions and power generation systems.

Who is the CEO of Capstone Green Energy? ›

Capstone Green Energy Announces Vince Canino as its President and Chief Executive Officer.

How much debt does Capstone Green Energy have? ›

Capstone emerged from Chapter 11 on Dec. 7, less than three months after filing the prepackaged plan. The agreement had Goldman Sachs take on 37.5% of the company's ownership in a debt-for-equity exchange that reduced Capstone's debt from $53 million to $23 million.

What is the stock symbol for Capstone Green Energy? ›

Capstone Green Energy Corporation (CGRNQ)

Is Capstone a buy? ›

Capstone Copper's analyst rating consensus is a Strong Buy. This is based on the ratings of 11 Wall Streets Analysts. Open a brokerage account, see exclusive account opening deals on our Best Online Brokers page.

What is the share price of Capstone Services Ltd? ›

Kapston Services Ltd Stocks COMPARISON
Financials( ₹ in Cr)Godrej AgrovetKapston Services
Price725.20387.00
% Change7.393.06
Mcap ₹ Cr13,939.14392.57
Revenue TTM ₹ Cr9,373.68398.96
5 more rows

Who owns Capstone Copper? ›

Mantoverde. 70% ownership (30% Mitsubishi Minerals).

Who are Capstone Green Energy competitors? ›

Capstone Green Energy's competitors and similar companies include Balmoral Offshore Engineering, Tecogen, RWG and Changzhou EGing Photovoltaic Technology.

What does Capstone sell? ›

Capstone excels in freight management tailored for retailers, combining deep supply chain insights, innovative technology solutions, and a nationwide network of top-tier carriers to optimize product distribution.

Is Green Energy worth it? ›

Renewable energy has numerous environmental benefits

Renewable energy generation sources lead to lower greenhouse gas emissions than traditional fuel sources like natural gas. This means a smaller carbon footprint and an overall positive impact on the natural environment.

What happened to Capstone turbine? ›

On April 22, 2021, the company announced it was changing its name to Capstone Green Energy. In July 2021, the company provided the first hydrogen fueled microturbine to Austrian engineering and construction firm Innovametall Stahl-Und Metallbau to be used at their powder coating facility in Freistadt.

Who is the owner of Capstone Holdings? ›

Keith J. Stone - CapStone Holdings, Inc.

Who is the owner of Capstone Organisation? ›

Jeevan D'Souza - Business Owner - Capstone Organisation | LinkedIn.

What happened to Giza Capstone? ›

Anyway, what happened to the Great Pyramid of Giza's capstone? Well, Egyptian authorities think thieves looted the pyramid 2500 years ago, stealing the capstone and other treasures situated inside the structure. So we'll likely never know if the capstone served some mysterious purpose, or was merely for decoration.

What happened to Green Network energy? ›

Industry sector. We have appointed EDF to take on the 360,000 domestic customers and small number of non-domestic customers of Green Network Energy, which is ceasing to trade. This appointment will take effect on Sunday 31 January 2021, following a competitive process Ofgem has run to get the best deal for customers.

What happened to integrated green energy solutions? ›

Integrated Green Energy Solutions (IGE), formerly known as Foy Group, had plans to build factories in Canberra, the Central Coast, Taree and around the world, but the listed company was placed in liquidation in June 2021.

What happened to Green Star Energy? ›

Green Star Energy was taken over by Shell Energy at the end of 2019.

Top Articles
Xoom Money Transfer 2023 Review - Popular, but is it good?
Remittances Giant Analyzed and Tested – Money Transfer Comparison
Woodward Avenue (M-1) - Automotive Heritage Trail - National Scenic Byway Foundation
Bj 사슴이 분수
Tryst Utah
Access-A-Ride – ACCESS NYC
Plaza Nails Clifton
Toyota Campers For Sale Craigslist
Is Csl Plasma Open On 4Th Of July
Yi Asian Chinese Union
David Packouz Girlfriend
Embassy Suites Wisconsin Dells
WK Kellogg Co (KLG) Dividends
Youtube Combe
Cranberry sauce, canned, sweetened, 1 slice (1/2" thick, approx 8 slices per can) - Health Encyclopedia
Turbocharged Cars
Why Is Stemtox So Expensive
Facebook Marketplace Charlottesville
Mephisto Summoners War
Flights To Frankfort Kentucky
Insidekp.kp.org Hrconnect
Chile Crunch Original
7 Fly Traps For Effective Pest Control
Overton Funeral Home Waterloo Iowa
Palm Coast Permits Online
Khiara Keating: Manchester City and England goalkeeper convinced WSL silverware is on the horizon
How pharmacies can help
Wausau Obits Legacy
Gayla Glenn Harris County Texas Update
Our History
How to Download and Play Ultra Panda on PC ?
Baja Boats For Sale On Craigslist
Form F-1 - Registration statement for certain foreign private issuers
Thick Ebony Trans
Pain Out Maxx Kratom
Lacey Costco Gas Price
Black Panther 2 Showtimes Near Epic Theatres Of Palm Coast
Tinyzonehd
Craigslist Northern Minnesota
Perry Inhofe Mansion
Angel del Villar Net Worth | Wife
Red Sox Starting Pitcher Tonight
Ff14 Laws Order
Compress PDF - quick, online, free
Craigslist Florida Trucks
Hireright Applicant Center Login
Natasha Tosini Bikini
فیلم گارد ساحلی زیرنویس فارسی بدون سانسور تاینی موویز
All Weapon Perks and Status Effects - Conan Exiles | Game...
Portal Pacjenta LUX MED
Christie Ileto Wedding
Random Warzone 2 Loadout Generator
Latest Posts
Article information

Author: Kieth Sipes

Last Updated:

Views: 5359

Rating: 4.7 / 5 (67 voted)

Reviews: 82% of readers found this page helpful

Author information

Name: Kieth Sipes

Birthday: 2001-04-14

Address: Suite 492 62479 Champlin Loop, South Catrice, MS 57271

Phone: +9663362133320

Job: District Sales Analyst

Hobby: Digital arts, Dance, Ghost hunting, Worldbuilding, Kayaking, Table tennis, 3D printing

Introduction: My name is Kieth Sipes, I am a zany, rich, courageous, powerful, faithful, jolly, excited person who loves writing and wants to share my knowledge and understanding with you.