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LOS ANGELES, December 11, 2023–(BUSINESS WIRE)–Capstone Green Energy Holdings, Inc. (the “Company”), the public successor to Capstone Green Energy Corporation (predecessor Capstone), has promoted Victor Kong to Vice President of Technology. With more than 18 years of committed service at Capstone, Victor’s adventure has been marked by exemplary contributions that began in the R trials.
Robert Flexon, Executive Chairman and Interim Chief Executive Officer of Capstone, expressed his excitement about Victor’s new role, stating, “We are thrilled to promote Victor Kong to this role. His experience and fondness for this company is immeasurable. Victor is a valuable addition to the control team. Flexon highlighted the significant effect he has had on Victor over the years, making him an ideal candidate for this important leadership position.
In his new role, Victor will play an integral role in shaping the future of Capstone’s engineering and generation business. His wealth of experience and strategic vision will be instrumental in overseeing the expansion of the generation department, ensuring its alignment with the company’s objectives. General objectives.
“I am revered and excited to take on the role of Vice President of Technology at Capstone. Over the years, I have witnessed expansion and innovation within our organization. I am committed to leveraging my expertise to drive excellence, foster collaboration, and contribute to the continued good fortune of our engineering and generation initiatives,” said Victor Kong, vice president of technology at Capstone.
This appointment reflects Capstone’s commitment to recognizing and nurturing talent from within the organization. Victor Kong’s extensive experience and deep understanding of our company will undoubtedly contribute to the growth and innovation of our engineering and technology department.
Additional information
The Company, as the public successor to predecessor Capstone (CGRN) for SEC reporting, continues to work to complete the restatement of previously issued financial statements and intends to complete such restatement as soon as practicable. the Company expects to list its common shares on the Pink Market by mutual agreement. The CUSIP number of the Company’s common stock after the reorganization transactions is 14067D607 and the ISIN number is US14067D6076.
About Capstone Green Energy
For more than 3 decades, Capstone Green Energy has been at the forefront of microturbine technology, revolutionizing the way corporations manage their energy supply. In partnership with our global team of committed distributors, we have shipped more than 10,000 sets to 83 countries, offering highly effective and environmentally friendly on-site power systems and microgrid solutions.
Today, our commitment to a greener long-term is unwavering. We will be offering our consumers a variety of commercial, commercial and application scale features tailored to their express needs, ranging from 65 kW to several MW. Capstone’s product portfolio only showcases our core microturbine technology, but also includes Bendy Energy as a Service (EaaS) service and rental contracts.
In our pursuit of cutting-edge solutions, we’ve forged strategic partnerships to extend our impact. Through these collaborations, we proudly offer biomass and heat recovery solutions that enhance the sustainability and efficiency of our client’s operations, contributing to a cleaner and more responsible energy landscape.
Capstone estimates that in FY23, it stored more than $169 million in annual energy costs and approximately 362,000 tons of carbon to its consumers. It is estimated that the total savings over the past five years will be approximately $1. 08 billion in energy savings and approximately 1. 9 million tons of carbon savings. .
Capstone provides fast, turnkey rental responses for consumers with capital or short-term needs; For more information, please contact: ubicaciones@CGRNenergy. com.
For more details about the company, visit www. CapstoneGreenEnergy. com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release includes forward-looking statements as set forth in the Private Securities Litigation Reform Act of 1995, including statements relating to operations and expansion expectations, restatements of monetary statements issued in the past and other statements relating to expectations, ideals, plans, intentions and strategies. . The Company has attempted to identify such forward-looking statements by using words such as “expect”, “anticipate”, “believe”, “possibly”, “should”, “estimate”, “intend”. , “will”, “plan”, “objective” and similar words and expressions, although such words, terms and expressions are not the exclusive means of identifying such statements. Actual effects, functionalities and achievements could differ materially from those expressed or implied by such forward-looking statements due to a variety of risks, uncertainties and other points, including, among others, the following: the addition of the new vice president – president of generation within the control team and their good fortune in devising and executing operational strategies; the Company’s ability to realize the expected benefits of its recently completed currency restructuring; the Company’s ability to comply with the restrictions imposed through the restrictive covenants contained in the corporate financing exit agreement and the new liskill limited subsidiary; workforce attrition and the Company’s ability to retain senior control and other key corps of workers following restructuring; the Company’s ability to expand new products and improve existing products; product quality issues, addition of reserve adequacy and exposure to guarantee prices; intense competition; the monetary functionality of the oil and fuel industry and other general business, commercial and economic conditions; the incidence of litigation and regulatory proceedings; risks similar to the previously announced restatement (adding the discovery of additional information applicable to the monetary statements subject to restatement; adjustments to the effects of the restatement on the monetary statements or monetary effects of the Capstone predecessor and the delay in 10-K filing and 10-Q due to the Company’s efforts to complete the restatement; the time, prices and expenses applicable to the restatement; SEC inquiries; the potential adverse effect on the value of the Company’s common stock and the lawsuits initiated through shareholders). For a detailed discussion of points that may also affect the Company’s long-term operating effects, please see predecessor Capstone’s filings with the Securities and Exchange Commission, adding the data provided under the heading “Risk Factors. ” in those documents. Except as expressly required by federal securities laws, the Company undertakes no legal responsibility to update or revise any forward-looking statements, whether as a result of new data, adjustments in cases or long-term events. or for any other reason.
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Contacts
Capstone Green EnergyInvestor and investment media inquiries:[email protected]