Capstone Green Energy ( NASDAQ: CGRN ) +12.3% pre-market on Monday after saying it won an order for a low-emission 200 kW microturbine-based system to an unnamed "major global oil and gas company in Malaysia."
Capstone ( CGRN ) said the new will feature an ATEX-certified Capstone C200 microturbine, will provide prime power for an offshore wellhead platform in Sarawak, Malaysia.
The company said it is a repeat order for the customer who purchased Capstone units for some of its other remote oil production platforms.
"Because low emission microturbine-based systems have such minimal maintenance needs, they are an ideal fit for unmanned applications like this one, especially where control and monitoring must be done remotely," Capstone ( CGRN ) CEO Darren Jamison said.
Capstone Green Energy's ( CGRN ) quarterly results were disappointing across the board with lower than expected sales, weak gross margins and elevated cash usage, and "bankruptcy might be in the cards," Henrik Alex writes in a bearish analysis posted recently on Seeking Alpha .
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Capstone Green Energy wins microturbine system order from Malaysian oil firm