Capstone Energy Plus CEPL

Capstone Energy+, Inc. designs, manufactures, and markets microturbine-based energy solutions for commercial, industrial, and utility customers. The company focuses on distributed power generation systems and distribution networks, including cogeneration applications such as combined heat and power (CHP), integrated combined heat and power (ICHP), and combined cooling, heat and power (CCHP). Its offerings also support renewable energy, natural resources, and critical power supply applications, including data centers, station power, and ports.

Capstone Energy+, Inc. generates revenue through the sale of microturbine products, accessories, parts and services, and rental units. Revenue streams include microturbine product sales, which comprise the core of its business, along with accessory sales, parts and services related to its Energy-as-a-Service (EaaS) business line, and rental revenue from leased microturbine systems. The company serves customers across energy efficiency, natural resources, renewable energy, critical power, microgrid power, data centers, station power, and port applications.

The company operates through the following segments:

• Microturbine Product: This segment involves the design, manufacture, and sale of microturbine systems and related accessories. The company’s microturbines are inverter-based technologies capable of operating on multiple fuel sources, including natural gas, biogas, and liquid fuels. Capstone Energy+, Inc. has developed a new 800-volt direct-current (VDC) microturbine to support NVIDIA’s AI Infrastructure requirements, which is being offered as an engineered behind-the-meter equipment package for next-generation AI factories.
• Parts and Services: This segment provides spare parts shipments, Factory Protection Plan (FPP) contracts, and other service revenue supporting the installed base of microturbine systems. Revenue from this segment includes maintenance, repair, and overhaul services for microturbine units deployed in the field. The company emphasizes growth in its customer base as a key driver for recurring revenue from this segment.
• Rentals: This segment encompasses the leasing of microturbine systems to customers for temporary or long-term power needs. Rental units are deployed in applications requiring flexible power solutions, such as during grid interconnection delays or for peak shaving in volatile electricity markets. The company utilizes its rental fleet to demonstrate technology reliability and support customer adoption in emerging markets like data centers and microgrids.

Capstone Energy+, Inc. remains a market leader in microturbine energy systems based on the number of microturbines sold annually and its total installed base. The company differentiates itself through highly efficient, low-emission, and resilient power generation that produces thermal energy with a lower carbon footprint. Its microturbines offer operational flexibility compared to certain alternative technologies, such as reciprocating engines, and can be integrated with other distributed energy resources to form microgrids. These advantages are particularly valuable in remote locations, where grid interconnection is costly or impractical, and in applications requiring high reliability and power quality, including data centers, station power, and port operations.

Capstone Energy+, Inc. serves customers across energy efficiency, natural resources, renewable energy, critical power, microgrid power, data centers, station power, and port applications. Specific customer relationships include sales to Horizon Power Systems, which accounted for 41% of revenue for the three months ended June 30, 2026, and E-Finity Distributed Generation, which accounted for 12% of revenue during the same period. The company also works with international distributors to support product sales in regions such as Chile and Mexico.