Capstone Bags Two EaaS Contracts From Cryptocurrency Mining Company

Capstone Green Energy Corp CGRN distributor for the Mid-Atlantic and Southeastern U.S. and the Caribbean, E-Finity Distributed Generation, secured two new 36-month Energy-as-a-Service (EaaS) contracts from a cryptocurrency mining company. Financial terms were not disclosed.
Capstone said it focuses on growing the EaaS business model as it provides higher margins and more constant revenue streams.
The customer approached E-Finity wanting to take advantage of existing on-site production waste gas that would otherwise go unused.
"As an EaaS provider, Capstone Green Energy is focused on growing its energy asset management business, including our industry-leading Factory Protection Plan (FPP) service offering, as well as our long-term on-site energy system rental business," said CEO Darren Jamison.
Price Action: CGRN shares are trading higher by 5.87% at $3.20 on the last check Wednesday.