Capstone Energy+ (CEPL) Investor presentation summary

Energy platform and value proposition

• Modular gas turbine systems span 65 kW to multi-megawatt applications; design features include air bearings, a single moving assembly, low noise, and no oil or water use.

• CHP recovers useful heat; systems support multiple gaseous fuels, grid-connected or island operation, and active redundancy.

• Illustrative total cost of ownership is $0.067/kWh versus $0.094/kWh for reciprocating engines, with results subject to site-specific factors and management assumptions.

Market opportunity and positioning

• Priority markets include data centers, ports and terminals, station power, and utility grid applications; the presentation estimates a combined $265B+ TAM.

• Global data center opportunity is estimated at $90B+ across 28,000 MW; 100 MW is shown as an illustrative ~$320M revenue opportunity, not guidance.

• Grid constraints from retiring baseload generation, severe weather, data center and AI demand, and clean-tech manufacturing are driving interest in on-site power.

• The presentation positions 800 VDC infrastructure as a transition for data centers supporting 1 MW IT racks and larger, citing space, copper-demand, and conversion-efficiency constraints in legacy designs.

Product roadmap and manufacturing

• 800 VDC Smart Power Switch testing is underway; the C600DC pilot is in qualification testing, with installation planned in an 800 VDC AI test lab.

• 5 ppm NOx liner testing has advanced to stability tests; results indicate potential emissions below 5 ppm without abatement equipment.

• The C250 moved from alpha to beta after a successful test run and is in performance optimization; enhanced heat-recovery prototype testing showed preliminary double-digit performance improvement.

• Current factory footprint supports potential annual capacity of 364 MW on one shift or 728 MW on two shifts, assuming 52 productive weeks; two-shift output requires no major factory expansion.