Vince Canino arrived at Capstone Green Energy in 2024 with three decades of energy-sector experience. After working at General Electric Co., Smardt Chiller Group Inc. and ESS Tech Inc., he was tasked with steering the Van Nuys-based manufacturer through a critical post-Chapter 11 bankruptcy pivot.

At the time, Capstone Green Energy was one of the last microturbine players in the industry – having been in business for nearly 40 years. Still, the company had not turned a profit in 20 years, per Canino’s predecessor.

Despite this, the microturbine manufacturer had potential given the current conversation around energy, artificial intelligence and data centers, said Canino, who is chief executive and president of the company.

“I think that data centers and AI are an accelerator agent for sure, but I do think the electrification drive also was a big player in putting a strain on the grid,” Canino said. “And then you have the other one, which is the outages due to weather events and fires.”

Last month, the company rebranded to Capstone Energy+ Inc. It also received a $112.5 million strategic investment in March to alleviate its bankruptcy and is rushing to field in-demand energy infrastructure. 

“As we look out to the world and you see the changing energy landscape, we don’t know what that means for us, but it certainly means more than just microturbines,” Canino said. “What drove us towards the ‘Energy+’ is that it’s not just power, but we’re really looking at energy as a whole.”

A new future

Changing the company’s name was more than just an aesthetic choice, according to Canino.

The rebranding allowed Capstone Energy+ to more clearly align with the company’s goals. It is working in the circular economy, recovering a significant amount of waste heat from microturbines and converting it into usable thermal energy. The company also operates an energy-as-a-service platform, allowing agriculture and gas companies to rent energy infrastructure as needed – such as to remote hotel complexes or offshore oil platforms impacted by weather disruptions.

Capstone Energy+ is also capitalizing on the new energy renaissance, pinpointing the growth markets in energy that are fueling insatiable demand for power: data centers, the Port of Los Angeles and the Port of Long Beach, and integrating with microgrids.