- Capstone Green Energy Corp’s (NASDAQ:CGRN) Alaska distributor Artic Energy has secured a new 12-month Energy-as-a-Service (EaaS) rental contract with a local oil and gas company headquartered in Anchorage. Financial terms were not disclosed.
- The oil exploration company, which has established a dominant acreage position on the North Slope, looks to reduce its environmental impact.
- Capstone’s EaaS business provides a lower cost and carbon footprint for on-site energy systems in energy-intense businesses like oil and gas, hospitality, commercial, industrial, cannabis, and bitcoin mining.
- Capstone helps customers manage capital costs and meet their environmental impact targets. It recently turned to a “re-rent” strategy to keep up with demand.
- “Capstone is seeing strong customer demand across industries for its EaaS long-term rental services, which had 7 MW under contract in March 2021, 26 MW under contract in March 2022, and today contracts in excess of 35 MW, representing nearly 37% growth in one quarter alone,” said CEO Darren Jamison.
- Price Action: CGRN shares are trading higher by 5.3% at $1.68 on the last check Monday.
Microsoft Faces Scrutiny Over Cloud Practices As Spanish Startup Association Files Complaint: ‘All Companies Should Be Able To Compete…’
The association alleges that Microsoft is using its dominant position in operating systems and traditional productivity software markets to force the adoption of its Azure cloud.
