Capstone Green Energy ( NASDAQ: CGRN ) +1.9% pre-market Wednesday after saying it has contracted with "a large West Texas energy company" to provide a new 3.6 MW Energy-as-a-Service rental contract , raising the company's total EaaS contracts to 45 MW.
Capstone ( CGRN ) said it is confident in its ability to achieve sustained positive adjusted EBITDA results when it reaches its target of 50 MW of deployed rental units, combined with price increases that went into effect in January 2022.
The company said the West Texas energy producer will use its microturbine energy systems to power production loads using on-site gas produced from its day-to-day operations.
Capstone Green Energy's ( CGRN ) Energy-as-a-Service segment "continues to exhibit strong growth but revenue contribution remained well below 10%" in the latest quarter, Henrik Alex writes in an analysis posted on Seeking Alpha .
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Capstone Green Energy wins 3.6 MW EaaS contract for Texas oil producer