Capstone Energy+ Business Summary

Capstone Green Energy Holdings, Inc. (CGEH) operates a diversified revenue model centered on the deployment and maintenance of proprietary microturbine technology for the distributed generation market. The company generates income through three primary segments: Product Sales (microturbines and accessories), Parts and Services (long-term Factory Protection Plans and aftermarket components), and Energy-as-a-Service (EaaS), which utilizes a subscription-based rental fleet model to provide on-site power without customer capital expenditure. Following its 2023 financial restructuring, the company has pivoted toward high-growth sectors such as AI-driven data centers and microgrids, leveraging its systems' ability to run on various fuels including hydrogen, biogas, and natural gas. Capstone competes directly with Bloom Energy, Caterpillar Inc., FuelCell Energy, and Generac Power Systems, positioning itself as a specialized provider of low-emission, high-reliability microturbines that offer superior power density and lower maintenance requirements compared to traditional reciprocating engines or fuel cells. Leadership is currently spearheaded by President and CEO Vincent J. Canino, who joined in March 2024 bringing extensive experience from his roles as COO of ESS Tech and CEO of Smardt Chiller Group. The executive team includes John P. Miller, who serves as Interim CFO and Director with over 40 years of management pedigree from Power Solutions International, and Victor Kong, the Vice President of Engineering and Technology, a 20-year Capstone veteran who oversees the company’s 800 VDC platform and hydrogen development. Operations are managed by Vice President John Toor, formerly of Parker Hannifin and Meggitt. The Board is led by Interim Chairman Robert F. Powelson, a former Federal Energy Regulatory Commission (FERC) member. Notable institutional backing remains tied to Goldman Sachs Specialty Lending Group, which played a pivotal role as the sole secured lender during the company's transition to its current holding structure.