Capstone Sells Turbines to Australian Oil, Gas Operators

Capstone Green Energy Corp. has received an order for three of its microturbines for use at oil and gas projects in Australia.The Van Nuys manufacturer secured the order for two C600S microturbine systems and one C800S microturbine system through its Australian distributor, Optimal Group, and will deliver them between this month and the end of the year.The units will be installed in multiple location and will be powered by high-pressure natural gas to supply all the electrical demand for the sites, Capstone said in a release on Monday.

Chief Executive Darren Jamison said that for many years the company has been an energy partner to the oil and gas industry.“As the oil and gas industry moves toward a more environmentally-friendly future, we are providing solutions that go beyond emissions reduction, often strengthening power reliability and improving the bottom line,” Jamison said in a statement.Shares of Capstone (CGRN) closed down 26 cents, or 4.1 percent, to $6.04 on the Nasdaq, on a day when that market closed up nearly 1 percent.