Capstone Green Energy Appoints Christopher Close to Its Board of Directors
Capstone Green Energy Holdings, Inc. (the 'Company' or 'Capstone') (PINK: CGEH) and Capstone Green Energy, LLC., today announced the appointment of Christopher Close to the Company's Board of Directors, effective June 16, 2025. It is also expected that Mr. Close will be appointed to the Board's Audit Committee. In connection with the appointment of Mr. Close, the Board expanded the size of the Board to seven members.
'We are very excited to welcome Chris to the Capstone Board,' said Bob Flexon, Chairman of the Board of Directors of Capstone. 'His extensive financial expertise and business acumen will bring a valuable perspective to our journey toward financial health with sustainable excellence as we focus on discipline and long-term value creation that will fuel our growth. Chris's experience will help accelerate Capstone's efforts to drive strategic momentum as we enter our next phase of meaningful transformation of the Company.'
Mr. Close brings more than 35 years of senior financial leadership experience, grounded in corporate finance and strategic execution. His background spans financial planning and analysis, investor relations, mergers and acquisitions, treasury, accounting, as well as additional leadership experience in human resources and information technology.
Mr. Close is currently President of Close Consulting LLC, where he advises business owners and private equity portfolio companies on complex financial strategies, operational performance, restructurings, and organizational effectiveness. His prior executive roles include serving as Chief Financial Officer at Noramco, a global pharmaceutical manufacturer, and at Preferred Sands, a leading energy services provider, where he spearheaded transformational financial initiatives across multi-site operations.
Earlier in his career, Mr. Close held senior finance positions at Exelon, Constellation Energy, and Airgas and began his professional journey as an auditor at PricewaterhouseCoopers. He holds Series 7 and 66 securities licenses and earned an MBA from Villanova University and a bachelor's degree in accounting from the University of Delaware.
'I'm honored to join Capstone's Board at such a pivotal point in the Company's journey,' said Chris Close, Capstone's newest Board Member. 'Capstone's core values and vision closely align with my own, particularly the focus on financial discipline, operational excellence, and sustainable growth. I look forward to working with the leadership team and my fellow directors to help accelerate the Company's strategic growth and deliver meaningful value for stockholders.'
'We're pleased to welcome Chris to the Board,' added Robert Powelson, Chair of the Governance & Sustainability Committee. 'Following a thorough selection process, we identified Chris as a strong fit based on his financial background, operational leadership, and strategic insight. His addition strengthens the Board's capabilities as we work to enhance execution and build a more resilient and focused organization.'
About Capstone Green Energy
For almost four decades, Capstone Green Energy has been at the forefront of clean technology using microturbines and revolutionizing how businesses manage their energy supply on a sustainable basis. In partnership with our worldwide team of dedicated distributors, we have shipped over 10,000 units to 83 countries, lowering our clients' carbon footprint with highly efficient on-site energy systems and microgrid solutions.
Today, our commitment to a cleaner future is unwavering. We offer customers a range of microturbine products ranging from 65kW to multiple MW's for the commercial, industrial, and utility-scale spaces uniquely tailored to their specific needs. Capstone's solutions portfolio not only showcases our core clean technology microturbines but also includes flexible Energy-as-a-Service (EaaS) offerings, including build, own, and operate models, as well as rental services.
Capstone's fast, turnkey power rental solutions are intended to address customers with limited capital or short-term needs; for more information, contact [email protected].
In our pursuit of cutting-edge solutions, we've forged strategic partnerships to extend our impact. Through these collaborations, we proudly offer solutions that utilize renewable gas products and heat recovery solutions. These solutions greatly enhance the sustainability and efficiency of our client's operations while contributing to a cleaner and more responsible sustainable energy landscape.
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Notes
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company has tried to identify these forward-looking statements by using words such as 'expect,' 'anticipate,' 'believe,' 'could,' 'should,' 'estimate,' 'intend,' 'may,' 'will,' 'plan,' 'goal' and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the Company's liquidity position and ability to access capital; the Company's ability to continue as a going concern; the Company's ability to successfully remediate the material weaknesses in internal control over financial reporting; the Company's ability to realize the anticipated benefits of its financial restructuring; the Company's ability to comply with the restrictions imposed by covenants contained in the exit financing and the new subsidiary limited liability company agreement; the uncertainty associated with the imposition of tariffs and trade barriers and changes in trade policies; employee attrition and the Company's ability to retain senior management and other key personnel; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the impact of litigation and regulatory proceedings; the potential material adverse effect on the price of the Company's common stock and stockholder lawsuits. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the risk factors contained in our most recent Annual Report on Form 10-K. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
View source version on businesswire.com:https://www.businesswire.com/news/home/20250623106595/en/
CONTACT: Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
[email protected]
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: GREEN TECHNOLOGY ALTERNATIVE ENERGY ENERGY ENVIRONMENT UTILITIES
SOURCE: Capstone Green Energy
Copyright Business Wire 2025.
PUB: 06/23/2025 09:15 AM/DISC: 06/23/2025 09:14 AM
http://www.businesswire.com/news/home/20250623106595/en
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 minutes ago
- Yahoo
Workato Launches Action Board to Move AI from the Edge to the Core of the Enterprise
New Workato Action Board expands on Workato GO, enabling enterprises to track KPIs of AI Agents, take action, and drive outcomes PALO ALTO, Calif., August 19, 2025--(BUSINESS WIRE)--Workato®, the leader in agentic orchestration, announced Action Board at the company's World of Workato (WOW) 2025 conference. Action Board is a new capability in Workato GO where employees can engage with AI Agents, or Genies, track their key performance indicators in real-time, view open action items, dive into the processes the AI Agents are executing, and take action. Workato Action Board makes it easy to operationalize AI agents with confidence and control. While many companies experiment with AI at the edges of their business, few have the tools to manage agents at the operational core—where real business impact is made. Workato Action Board expands on Workato GO, the company's AI-powered super app, by giving functional teams, like IT, marketing, sales, customer service, finance, and HR, the ability to define KPIs for each Genie, engage with Genies to drill down into the results in real-time, take action, and more. It further surfaces all the activity from Genies that requires the employee to act on, like approvals. "With Action Board, we're giving enterprise teams the visibility and control to treat AI agents like employees and not experiments," said Bhaskar Roy, Chief of AI Products & Solutions Officer at Workato. "Unlike dashboards, Action Board not only provides a real-time view of how your Genies are tracking, understanding where things are stuck, but also enables you to engage with the Genies conversationally to act on them to drive outcomes." Every Genie appears as its widget with a defined role and job description, enabling tailored views by department, use case, or individual role. Teams can engage with agents, check on work in progress, and provide feedback—just as they would with any member of their team. It also comes with robust governance capabilities, such that only the right people see the right data they need to act on. It reflects how the most successful agent deployments happen—built by fusion teams where IT and business work together from the start. It enables leaders to: Prove impact fast by defining and tracking KPIs for each Genie. Engage with Genies to take action and drive outcomes. Keep teams aligned with customizable, role-based, actionable dashboards. Drive adoption and efficiency by monitoring output across departments. Protect sensitive data with role-based access controls. Launching as part of the WOW 2025 "Re(AI)lize Tomorrow," Action Board is one of several innovations showing how Workato is transforming enterprise AI from concept to production reality. It will be available in previews for eligible customers, with a global rollout planned in the coming quarters. Learn more at to see Action Board in work. About Workato Workato transforms technology complexity into business opportunity. As the leading agentic orchestration company, Workato empowers enterprises to connect and unify data, processes, applications, and experiences. Its AI-driven platform enables teams to navigate complex workflows in real-time, driving efficiency and agility. Trusted by more than 12,000 global customers, Workato empowers organizations of every size to unlock new value and lead in today's fast-changing world. Learn how Workato helps businesses of all sizes achieve more at Source: Workato View source version on Contacts Joseph HollisterCommunications Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 minutes ago
- Yahoo
Workato Supercharges ONE: The Agentic Core for AI-Ready Enterprises
First platform to unify agent development, multi-agent orchestration, and enterprise data fabric, bringing autonomous, intelligent business execution to life PALO ALTO, Calif., August 19, 2025--(BUSINESS WIRE)--Workato®, the leader in agentic orchestration, today announced a major expansion of Workato ONE, introducing a comprehensive set of capabilities that bring multi-agent intelligence to the core of the enterprise. These updates enable organizations to deploy AI agents across every function, system, and workflow, with the trust, governance, and intelligence required at enterprise scale. With these additions, Workato ONE becomes the first platform to unify agent development, multi-agent orchestration, and a connected enterprise data fabric -- delivering on the promise of autonomous, intelligent business execution. The news was shared during World of Workato (WOW) 2025, the company's flagship customer and partner conference, taking place this week in Las Vegas. "This is the platform shift enterprises have been waiting for," said Amlan Debnath, Chief Product Officer at Workato. "Workato ONE now gives businesses a single system to orchestrate AI, data, and action -- securely, at scale, and in production today." "CIOs are facing a flood of AI use cases and point tools across every part of the business -- from sales to engineering to HR," said Kim Huffman, CIO at Workiva. "Workato ONE helps us cut through that noise. It gives us a single platform to surface, manage, and scale the agents that move the business forward." While AI adoption is accelerating, most enterprises remain stuck in pilot mode. They're juggling disconnected copilots, isolated agents, and fragmented data. CIOs are under pressure to turn AI investments into measurable ROI in months, not years. Point solutions create sprawl. Custom builds create limited innovation, but rarely scale across the business. Workato ONE solves these challenges. It transforms agents from standalone experiments into a coordinated, enterprise-wide system -- built on a unified platform with governance, reuse, and connected data at its core. The result is a true "Agentic Enterprise," where AI agents collaborate, take action and continuously improve in production. New Agentic capabilities: Agent Studio: A visual development environment for building agents with orchestrated steps, defined goals, and trust policies. Enterprise Skills: Modular, reusable building blocks for common agent tasks -- summarizing content, classifying inputs, calling APIs, and transforming data. Agent Knowledge Graph: A centralized, evolving memory layer that provides agents with deep, contextual reasoning. Agent Acumen: A domain-aware knowledge model that gives agents functional fluency in enterprise context, roles, and terminology. Agent Collaborator: A visual control plane for deploying and managing agents with clarity, governance, and cross-functional usability. Agent Trust: Enterprise-grade governance to manage agent access, approvals, and distribution across teams and business units. Workato Enterprise MCP: Securely expose orchestrations and agents as APIs or services, enabling productization and external access. New Enterprise Orchestration capabilities: Workato AIRO™: AI-assisted development environment for recipes, APIs, agents, and data pipelines, helping teams design, optimize, and deploy faster. Workato IDP: Multimodal document intelligence that extracts, classifies, and structures unstructured content into actionable, orchestratable data. Data Orchestration: A comprehensive platform for orchestrating data movement and transformation across systems, ensuring clean, governed inputs and information for agentic execution and business intelligence. Decision Models: Real-time decisioning framework with built-in human- and AI-in-the-loop capabilities for routing, approvals, and escalations. Workato EDI: Modernized electronic data interchange that streamlines partner onboarding, automates mapping, and adds intelligence to format-heavy processes. With these upgrades, Workato ONE becomes the operating core for enterprise AI -- transforming scattered agent deployments into coordinated, value-driving systems. Customers are already using the platform to quote faster, onboard faster, close books faster, and resolve tickets faster -- while maintaining visibility, security, and governance from day one. To learn more about Workato ONE and the new capabilities announced today, visit About Workato Workato transforms technology complexity into business opportunity. As the leading agentic orchestration company, Workato empowers enterprises to connect and unify data, processes, applications, and experiences. Its AI-driven platform enables teams to navigate complex workflows in real-time, driving efficiency and agility. Trusted by more than 12,000 global customers, Workato empowers organizations of every size to unlock new value and lead in today's fast-changing world. Learn how Workato helps businesses of all sizes achieve more at Source: Workato View source version on Contacts Joseph HollisterCommunications Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 minutes ago
- Yahoo
Trump Energy secretary: ‘We're going to get blamed' for rising power prices — but they're Democrats' fault
DES MOINES, Iowa — Energy Secretary Chris Wright said he knows Republicans could suffer political pain for the electricity prices that are rising before next year's midterm elections. But he hopes voters will know to blame the Democrats instead. 'The momentum of the Obama-Biden policies, for sure that destruction is going to continue in the coming years,' Wright told POLITICO during a visit to wind- and corn-rich Iowa. Still, he said: 'That momentum is pushing prices up right now. And who's going to get blamed for it? We're going to get blamed because we're in office.' Electricity prices at the end of July averaged 5.5 percent higher than a year earlier amid surging power demand. Wright's acknowledgment of economic reality offered a bit of a contrast to President Donald Trump's relentlessly sunny proclamations about the nation under his watch, from Trump's promises of a new "golden age" to his predictions that 'we're going to have the greatest economic boom in history.' Wright's words also look ahead to one of the potential sleeper issues of the 2026 election, as the parties seek to own the message about how Trump's effort to thwart the development of wind and solar power is affecting electricity customers' wallets. His swing through Iowa last week highlighted the tensions: The state gets about 60 percent of its electricity from wind, a higher share than any other state. At the Ames National Laboratory on Thursday, Wright was joined by Iowa Republicans who have urged Trump to take a less harsh approach to curtailing federal tax breaks for wind and solar power — among them, Sen. Joni Ernst and Rep. Mariannette Miller-Meeks, who represents a critical swing district and chairs the Conservative Climate Caucus. The costs of wind and solar energy have plummeted in the past two decades, and last year they accounted for 93 percent of the new electricity added to the U.S. power grid, according to the American Clean Power Association, an industry trade group. But Wright made the argument for the Trump administration to pour its support into coal, natural gas and nuclear power — after four years of former President Joe Biden putting hundreds of billions of dollars into renewable energy. The Trump administration is 'swimming seven days a week to try to offset that negative momentum and try to bring electricity prices down,' Wright said Thursday during an interview at the Des Moines airport. 'But you can't turn on a dime,' the former oil industry CEO added. Democrats are scoffing at the GOP attempt to blame-shift. 'There's an affordability crisis in electricity that is well on its way, and just with the decisions that they've already made, is probably baked in for the next several years,' New Mexico Sen. Martin Heinrich, the top Democrat on the Energy and Natural Resources Committee, told POLITICO before leaving for August recess. 'It's only going to get more acute as we get closer to next year's elections. They [Republicans] own that.' In Iowa, Wright touted the importance of the Ames lab's critical materials research to help reduce dependence on Chinese supply chains. The trip was part of his goal of visiting all 17 of the Energy Department's national laboratories this year. His visit also came just before the Treasury Department on Friday released new policy guidance that will make it even harder for wind and solar projects to use tax credits that Republicans phased out as part of their recently passed budget law — though the changes did not go as far as some in the clean energy industry had feared. Democrats say Trump's policies could cause prices to rise by taking inexpensive clean power sources off the grid while pulling the rug out from under companies' plans to use the Biden-era incentives from the Inflation Reduction Act. Some power industry leaders have also cautioned that aggressive efforts to restrict development of wind and solar energy could raise electricity prices at a time when demand is soaring. Iowa's senior senator, Republican Chuck Grassley, has joined Sen. John Curtis (R-Utah) in placing holds on three of Trump's nominees after failing to secure assurances on the new tax credit rules. Grassley was not present at the lab, although he offered tentative praise Friday for the new Treasury guidance, saying in a statement that the language "seems to offer a viable path forward for the wind and solar industries." In the interview with POLITICO, Wright said solar and wind projects that have already started the construction process should continue to qualify for tax credits. He said he has 'sympathy' for renewable energy developers concerned that retroactively disqualifying projects under development could expose companies to financial risk and disrupt their business plans. Treasury's new guidance applies only to projects that start construction on or after Sept. 2. 'Within the administration, there's dialogues about, how do we handle this?' Wright said. 'People are mad about wind and they want to shut it down. There's people, of course, that love it, and want more of it. But we got to balance those things. And if a business invested a lot of money and made a plan, that's a legitimate interest. If you have projects under construction right now that meet that requirement, they're going to get the tax credits.' Ernst told POLITICO on Thursday at a press conference during the lab tour that she has been continuing to urge the Trump administration not to harm ongoing wind projects in Iowa. 'There are a number of projects that have been planned already, and we would like to see those continue to qualify,' Ernst said. Wright has frequently criticized wind energy — long a favorite target of Trump's — and in a recent X post argued that wind-powered projects are 'subsidized, inefficient, unreliable, land hogs that drive up electricity prices.' But in the interview, Wright conceded that Iowa, which has some of the cheapest power prices in the country, has proved that a grid powered by wind energy can be successful in certain contexts. He cited Alaska as another state where renewables could play an important role, because its remote location means it has limited infrastructure to transport natural gas and diesel for heating homes. 'Alaska is one of those places where wind has some value,' Wright said. 'Remote villages in Alaska where your power is coming from $10 a gallon diesel, a small wind turbine there — big win — [it] reduces your diesel consumption. Solar [as well],' Wright said. Wright also spoke more positively about solar energy, which has not entirely escaped Trump's wrath. He said because solar's costs continue to fall and it consumes less land than wind, sun-powered energy will thrive under the Trump administration. 'Its fundamental viability in a subsidy-free world is much better than wind, and we'll continue to see growth in solar,' Wright said. But Wright said the Trump administration is looking to expand the use of so-called baseload power sources such as fossil fuels, nuclear and geothermal, which he argued are better suited to meet the needs of power-guzzling data centers. 'What we're doing is not ending renewables,' he said. 'The previous administration thought wind, solar and batteries were going to power the world. They're not going to power the world. So you just got to look at them in a more realistic context.'
