Capstone Energy+

What Capstone Energy+ does

Capstone Energy+ is a publicly traded distributed energy company (OTCQX: CGEH, formerly NASDAQ: CGRN) that designs, manufactures, and services microturbine-based on-site power, thermal energy, and energy-as-a-service solutions. Founded in 1988 and headquartered in Van Nuys, California, the company operates a 70,000-square-foot manufacturing facility and has shipped over 10,600 microturbine units across 88 countries. Its products serve mission-critical customers in data centers, healthcare facilities, oil and gas operations, hotels and resorts, agricultural operations, microgrid applications, and EV charging infrastructure.

The company's core technology is its microturbine platform built on three foundational power outputs (30kW, 65kW, 200kW) that scale into multi-megawatt configurations including the C600S, C800S, and C1000S systems. The platform is differentiated by patented air bearing technology supporting the turbine shaft on a frictionless cushion of air (yielding a single moving part and zero lubrication requirements), an annular recuperator that boosts electrical efficiency by approximately 50% versus non-recuperated designs, and a proprietary MultiPac synchronization architecture for combining multiple units. Hydrogen-blend combustion capability (10% commercial, 30% in development, 100% under research) was co-developed with U.S. DOE Argonne National Laboratory and UC Irvine. The Capstone Logic Controller (CLC) and Capstone Remote Monitoring System (CRMS) provide system orchestration and remote management, and the platform integrates with industry-standard Modbus for external control systems.

Capstone generates revenue through four streams: direct microturbine hardware sales, Energy-as-a-Service arrangements (PPAs, ESAs, leases), short-to-long-term rentals ranging from 65kW to multi-megawatt, and aftermarket service agreements including the Factory Protection Plan. Distribution relies on a global network of factory-authorized channel partners across 88 countries, supplemented by direct enterprise field sales targeting large accounts. In FY2026 the company reported $106.0 million in revenue (up 24% year-over-year), $33.9 million in gross profit (up 45% year-over-year, approximately 32% gross margin), and $2.8 million in net income, marking a return to profitability and the seventh consecutive profitable quarter.

Name

Capstone Energy+

Legal name

Capstone Energy+, Inc.

Website

https://capstoneenergyplus.com

Company type

Public

Founded year

1988

Operating status

Operating

Headcount range

51–100 employees

Short description

Capstone Energy+ designs, manufactures, and services microturbine-based on-site power, thermal energy, and energy-as-a-service solutions for mission-critical customers in data centers, healthcare, oil and gas, hospitality, and microgrid applications across 88 countries.

Ownership category

akta.pro rank

Product category

Distributed Power Generation

NAICS

Turbine and Turbine Generator Set Units Manufacturing (333611), Engine, Turbine, and Power Transmission Equipment Manufacturing (3336)

SIC

Engines & Turbines (3510), Cogeneration Services & Small Power Producers (4991), Motors & Generators (3621)

akta.pro industry

PRIMARYIMAHAFAH

Microturbines, Fuel Cells & Distributed Generation Prime Movers

Industrials, Manufacturing & Construction/Industrial Machinery & Heavy Equipment/Power Generation & Prime Movers

SECONDARYEUACALAI

Dispatchable Distributed Generation (Gas Reciprocating Engines, Microturbines)

Energy, Utilities & Environment/Electric Power Generation/Distributed & Behind-the-Meter Power Generation (Microgrids, DG)

SECONDARYEUAFAJAA

Commercial & Industrial (C&I) Microgrids (Factories, Warehouses, Campuses)

Energy, Utilities & Environment/Energy Storage & Grid Flexibility (Batteries, Hydrogen Storage, Demand Response)/Microgrids & Behind-the-Meter (BTM) Storage Solutions

SECONDARYEUAFAJAD

Remote, Islanded & Off-Grid Microgrids (Islands, Mining, Telecom Towers)

Energy, Utilities & Environment/Energy Storage & Grid Flexibility (Batteries, Hydrogen Storage, Demand Response)/Microgrids & Behind-the-Meter (BTM) Storage Solutions

SECONDARYIMAGAAAJ

Microgrid & Distributed Grid Equipment (Controllers, Switchgear Packages, DER Interconnection)

Industrials, Manufacturing & Construction/Electrical Equipment & Industrial Electronics/Power Generation & Grid Equipment (Transformers, Switchgear, Substations)

Keywords

• Microturbine power systems
• Distributed energy generation
• Combined heat and power
• On-site power solutions
• Energy as a service

Headquarters

HQ city

Van Nuys

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Microturbine Product Sales: Direct sales of microturbine energy systems including 30kW, 65kW, 200kW platforms and scalable multi-megawatt solutions (C200, C600S, C800S, C1000S) for on-site power generation.
2. Energy as a Service (EaaS): Flexible consumption models including power purchase agreements (PPAs), energy service agreements (ESAs), leasing, and rental solutions that reduce upfront costs and provide life-cycle cost predictability for customers.
3. Rental Solutions: Short to long-term rental power solutions ranging from 6 months to 10 years, with modular deployments from 65kW to multi-megawatt configurations. Rentals include complete service coverage through global factory-authorized service providers.
4. Service Agreements & Aftermarket: Long-term service agreements and Factory Protection Plan (FPP) covering planned and unplanned maintenance, parts and labor for the life of the contract. Global network of factory-authorized distributors provides aftermarket support.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Capstone Energy+ designs, manufactures, and services low-emission, oil-free microturbine-based distributed energy systems ranging from 30 kW to multi-megawatt (10 MW+) configurations, sold as on-site power, combined heat and power (CHP/CCHP), and Energy as a Service (EaaS) solutions to mission-critical enterprise customers worldwide. Core product platforms include the C30, C65, C200, C600S, C800S, and C1000S microturbines, complemented by rentals, mobile EV charging units, and microgrid configurations.

Product overview

Capstone Energy+ offers a comprehensive portfolio of distributed energy solutions centered on its proprietary microturbine technology platform. The core offering consists of scalable microturbine systems built on 30kW, 65kW, and 200kW platforms, configurable up to multi-megawatt installations (C600S, C800S, C1000S). The portfolio extends beyond power generation to include thermal energy capture (Combined Heat and Power/CHP), Energy as a Service (EaaS) with PPAs/ESAs/leases/rentals, mobile EV charging solutions, and microgrid controls. Supporting technologies include the Capstone Logic Controller (CLC) for MultiPac master control, Capstone Remote Monitoring System (CRMS) for system monitoring, patented air bearing technology, and recuperator technology for efficiency optimization. Hydrogen-capable variants (10% blend commercially available, 30% in development) support the transition to renewable fuels. The company operates on a global scale with over 10,600 units shipped across 88 countries through its distributor network.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 95% total efficiency in CCHP mode (Costa Group facility)
• +7 more outcomes

Named customers10 records

Segments9 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

16 partnerships are on record, tiered core, regional, flagship, strategic and minor.

• Horizon Power SystemscoreChannel Partner/ Reseller/ DistributorOver 20-year partnership; one of Capstone's first distributors serving the US market with on-site power solutions for oil & gas, industrial, and commercial applications.
• E-Finity Distributed GenerationcoreChannel Partner/ Reseller/ DistributorFounded 1990; exclusive distributor for mid-Atlantic states. Featured case study at Logan Philadelphia Hotel with three C65 microturbines achieving 99.8% uptime over 85,000+ hours.
• Lone Star Power SolutionscoreChannel Partner/ Reseller/ DistributorFounded 2018; shared goal with Capstone to provide distributed generation solutions in Texas and surrounding regions with focus on reliability and emissions reduction.
• ServelectregionalChannel Partner/ Reseller/ DistributorEngineering and energy service company (ESCO) from Cluj-Napoca, Romania, established 2005, providing Capstone microturbine solutions in Eastern Europe.
• Supernova Energy ServicesregionalChannel Partner/ Reseller/ Distributor30-year-old company based in Medellín and Bogotá, Colombia, originally oriented toward energy conservation, now serving as Capstone distributor in Latin America.
• RSP SystemsregionalChannel Partner/ Reseller/ DistributorHelps customers with significant electrical and thermal energy needs for facilities; provides Capstone microturbine solutions for reliable, secure power systems.
• DTC EcoenergiaregionalChannel Partner/ Reseller/ DistributorCooperative approach to customer projects in Latin America; friends and partners to clients for tackling energy projects with supportive relationships.
• Synergy AstanaregionalChannel Partner/ Reseller/ DistributorFounded 2009 in Kazakhstan; moved toward green energy development including biogas and distributed generation solutions using Capstone technology.
• Cenit Ltda.regionalChannel Partner/ Reseller/ DistributorCreated 2012 as part of Monelco SRL and Canadian Energy Enterprise SRL corporate group; serves Latin American markets with Capstone microturbine solutions.
• Ingeniería y Soluciones en Proyectos Globales S.A. (ISPG)regionalChannel Partner/ Reseller/ DistributorSpin-off of engineering company specialized in piping systems for off/onshore applications; serves as Capstone distributor with focus on industrial energy solutions.
• UK Remanufacturing HubregionalChannel Partner/ Reseller/ DistributorUK-based aftermarket support hub established 2009; provides remanufacturing and service support for Capstone products across Europe, Middle East, and Africa (EMEA) region.
• U.S. Department of Energy - Argonne National LaboratoryflagshipStrategic or Co-development PartnerPartnership to develop and validate hydrogen combustion technology for microturbines. Determined that Capstone systems can perform on 30% hydrogen blended with natural gas without costly hardware modifications; also testing 100% hydrogen capability.
• University of California, Irvine (UCI)flagshipStrategic or Co-development PartnerResearch partnership with DOE Argonne National Laboratory to validate hydrogen capability of Capstone microturbines. Contributing to digital twin development for C65 combustion system optimization.
• Watt AI, Inc. (WattAI)strategicTechnology or IntegrationCollaboration showcasing intelligent control systems redefining microgrid efficiency at Capstone's Van Nuys headquarters. Demonstrates advanced at-the-meter optimization capabilities.
• CoForceminorGTM or Marketing PartnerMarketing consultant engaged for corporate videos and rebranding rollout strategies for the Capstone Green Energy to Capstone Energy+ transformation.
• Andretti AutosportminorGTM or Marketing PartnerIndyCar racing partnership providing high-visibility brand exposure through car livery. Used as platform for #ShiftToGreen marketing campaign and brand awareness.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Bladon Micro Turbines: Bladon develops small-scale microturbines for telecom towers, off-grid power, and military applications. Direct peer to Capstone's microturbine technology at the lower end of the power range, focused on distributed and off-grid deployment scenarios.
• MTT (Micro Turbine Technology): MTT is a European microturbine manufacturer offering sub-30kW units targeting residential and small commercial CHP. Closest direct competitor to Capstone's microturbine platform, though with a smaller power range and a more residential/light-commercial focus.

Emerging players

• Ballard Power Systems: Ballard develops hydrogen fuel cells for stationary power, heavy-duty mobility, and backup applications. Adjacent competitor to Capstone's hydrogen-blend microturbines in the emerging clean-fuel distributed-generation market, particularly for off-grid and critical-power customers.
• Bloom Energy: Bloom Energy deploys solid-oxide fuel cell systems for behind-the-meter power at data centers, healthcare, and industrial sites. Competes with Capstone on the same customer set with a different (zero-combustion) technology profile, particularly relevant in hydrogen and renewable-power contexts.

Broad incumbents

• Cummins Power Generation: Cummins offers gas and diesel generator sets, transfer switches, and CHP systems for commercial, industrial, and data center backup power. Competes with Capstone in critical-power and CHP applications and benefits from significantly deeper service infrastructure and balance sheet.
• Solar Turbines (Caterpillar): Solar Turbines, a Caterpillar subsidiary, manufactures industrial gas turbines from 1–22 MW for oil & gas, CHP, and distributed generation. Comparable to Capstone on behind-the-meter gas-fired generation for oil & gas and industrial customers, but at a much larger scale and broader power range.
• Generac Power Systems: Generac is a leading manufacturer of power generation equipment, with growing exposure to industrial-scale natural gas generators and microgrid solutions. Competes with Capstone in behind-the-meter and microgrid applications, particularly for commercial and industrial customers.
• Wärtsilä Energy: Wärtsilä provides large gas engines, energy storage, and integrated power plant solutions for utilities and industrial customers. Comparable to Capstone on flexible gas-fueled generation and balancing renewable-heavy grids, though at substantially larger utility-scale scope.
• INNIO Jenbacher: INNIO's Jenbacher brand produces gas-fired reciprocating engines for CHP, biogas, and distributed power at commercial and industrial scales. Direct competitor in CHP/cogeneration for data centers, hospitals, and industrial users that Capstone also targets, with a broader portfolio and larger installed base.
• Rolls-Royce Power Systems (MTU): MTU/Rolls-Royce Power Systems supplies gas and diesel gensets, CHP systems, and microgrid solutions for data centers, healthcare, and industrial customers. Direct overlap with Capstone in mission-critical power and CHP, leveraging a much larger global service footprint.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CapstoneEnergy
• YouTubeyoutube.com/@CapstoneEnergyPlus
• Facebookfacebook.com/capstoneenergyplus
• LinkedInlinkedin.com/company/capstone-energy-plus
• Instagraminstagram.com/capstoneenergyplus

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Capstone Energy+