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Capstone Green Energy Holdings, Inc.

CIK: 10097592 Annual ReportsLatest: 2025-06-27

10-K / June 27, 2025

Revenue:$85,600,000
Income:-$7,200,000

10-K / June 13, 2024

Revenue:$73,882,000
Income:-$24,500,000

10-K / June 27, 2025

Company Summary: Capstone Green Energy Holdings, Inc.

Overview

  • Industry Leader in microturbine energy systems, with almost four decades of experience.
  • Focuses on low-emissions, oil-free power and energy technology with high availability and low maintenance.
  • Provides sustainable, clean energy solutions worldwide designed for various power needs.

Core Business and Technologies

  • Develops, manufactures, markets, sells, and services microturbine-based power generation solutions.
  • Microturbine applications:
    • Standalone power solutions
    • Combined Heat and Power (CHP) or cogeneration
    • Integrated Combined Heat and Power (ICHP)
    • Combined Cooling, Heat, and Power (CCHP) or tri-generation
  • Power output ranges from 65 kW to multiple MWs.
  • Core technologies include:
    • Proprietary air bearing technology (no need for lubricating oil)
    • Advanced combustion technology
    • Digital power electronics
    • Proprietary remote system monitoring
  • Can operate on multiple fuels:
    • Natural gas, biogas, sour gas, LPG, propane, LNG, and blended hydrogen (up to 35%) with active R&D for 100% hydrogen.

Products and Systems

  • Microturbines such as C65, C200, C400, C600, C800, and C1000S Series.
  • Devices meet UL standards and comply with international grid interconnection standards.
  • Accessories include heat recovery modules, dual-mode controllers, batteries, protocol converters, and parts support.
  • Offer system controllers for automation and remote management.

Market Applications

  • Energy efficiency & CHP/CCHP for hotels, hospitals, office buildings, wastewater treatment, industrial facilities, and large retail.

  • Natural resources:

    • Oil & gas exploration and production (onshore/offshore)
    • Flare, sour, and associated gases
  • Renewable Energy:

    • Landfill, wastewater, and agricultural biogas
    • Renewable natural gas and small biogas applications
  • Critical Power & Microgrid:

    • Backup power for hospitals, data centers
    • Island and remote community power solutions
    • Disasters and emergency resilience
    • Supports EV charging infrastructure
  • Transportation:

    • Power solutions for electric vehicle charging stations, including fleet and remote stations, and mobile trailers.
  • AI Data Centers:

    • On-site power and cooling with system control enhancements and microgrid integration.

Customers & Sales

  • Has distributors and OEM partners worldwide.
  • In Fiscal 2025:
    • Revenue was approximately $85.6 million, down 6% from $91.2 million in FY2024.
    • Maintains 18,839,849 common shares and 508,475 non-voting shares outstanding as of June 26, 2025.
  • Typical customer base includes energy producers, industrial users, commercial and institutional clients.
  • Major customers in FY2025:
    • E-Finity Distributed Generation: 13% of revenue
    • Lone Star Power Solutions: 12%
    • Horizon Power Systems: 11%

Employees

  • Approximately 100 full-time employees and 1 part-time employee (as of March 31, 2025).

Revenue & Profitability

  • Total revenue for FY2025: $85.6 million (decreased from FY2024)
  • Gross profit: $23.3 million (27% margin)
  • Net loss: $7.2 million (compared to net income of $7.4 million in FY2024)
  • No dividends paid; company plans to reinvest earnings into growth.

Additional Details

  • Has experienced chapters of restructuring and bankruptcy but emerged in December 2023.
  • Emphasizes product innovation, R&D (notably hydrogen solutions), and expanding vertical markets.
  • Continues to pursue certification for products globally, including in Europe and Australia.
  • Cybersecurity and internal controls are continually managed, with some identified material weaknesses.

This summary reflects the company's core operations, technologies, markets, customer base, financial position, and strategic focus based solely on provided details.