Benzinga | Jul 14, 2021 02:16PM EDT

Capstone Green Energy Secures 5-Year Service Contract On Butane-Fueled C1000S In Australia

* Capstone Green Energy Corp's (NASDAQ:CGRN) exclusive distributor for Australia, Optimal Group signed a new 5-year Factory Protection Plan (FPP) service contract for a Capstone Signature Series C1000S 100% butane-fueled system already installed in Australia.

* The Capstone Signature Series C1000S is owned and operated by Australia's AGL Energy Ltd. (OTC:AGLXY).

* According to Optimal Group's calculations, this installation will return a savings of approximately $0.60 million annually compared with the previous mid-1980s reciprocating internal combustion engines.

* The program also shields end-use customers from future cost increases associated with replacement spare parts, import tariffs and commodity pricing in a supply-strained world.

* Price action: CGRN shares are trading lower by 4.36% at $4.83 on the last check Wednesday.