WALTHAM, MA / ACCESSWIRE / April 9, 2020 / Tecogen Inc. (NASDAQ:TGEN), a clean energy company providing ultra-efficient, clean, natural gas-powered on-site power, heating and cooling equipment, is pleased to announce an order for a 250 kW trigeneration system, consisting of two (2) microgrid-enabled InVerde e+ units and 200 tons of absorption cooling. The Tecogen CHP units will supply energy to the facility throughout the year at a much higher efficiency than the utility while also reducing the building’s carbon footprint. In the event of a power outage, the InVerde units will continue to provide power to the building through Tecogen’s proprietary microgrid controls.
“We are very excited to receive an order from this building owner, a large real estate asset management company,” commented Abinand Rangesh, Director of Strategy at Tecogen. “We have been working with this ownership group to identify buildings in their portfolio that can benefit from our clean energy systems. This building was an excellent fit for a trigeneration system, which allows our InVerde units to run year-round with the hot water used for heating the facility in the winter and cooling the facility with the absorption chillers in the summer. We anticipate the development of similar projects with this owner in the future.”
Trigeneration, or combined cooling, heat and power (CCHP), is a process which uses the heat produced by a cogeneration plant to generate chilled water via the absorption process for air conditioning or refrigeration. A single InVerde cogeneration unit provides sufficient hot water to drive a 50-ton absorption chiller. With natural gas rates at an all-time low, trigeneration systems are a cost-effective alternative to traditional means of heating and cooling buildings.
“Our natural gas engine-driven products help large real estate companies meet their Environment, Social, and Governance (ESG) goals while simultaneously reducing operational expenses,” stated Benjamin Locke, Tecogen CEO. “This particular owner took the time to tour our factory and understand the economic and environmental benefits of our InVerde cogeneration system. Our track record for providing quality systems and services is an important criterion for this customer. We look forward to identifying additional buildings in their portfolio that can benefit from Tecogen’s clean energy systems.”
The project installation is expected in late 2020 and will include a five-year maintenance agreement.
Tecogen Inc. designs, manufactures, sells, installs and maintains high efficiency, ultra-clean, cogeneration products including natural gas engine-driven combined heat and power, air conditioning systems and high-efficiency water heaters for residential, commercial, recreational and industrial use. The company provides cost efficient, environmentally friendly and reliable products for energy production that, through patented technology, nearly eliminate criteria pollutants and significantly reduce a customer’s carbon footprint.
In business for over 35 years, Tecogen has shipped more than 3,000 units, supported by an established network of engineering, sales and service personnel throughout North America. For more information, please visit www.tecogen.com or contact us for a free Site Assessment.
Tecogen, InVerde e+, Ilios, Tecochill, Tecofrost, Tecopower and Ultera are registered or pending trademarks of Tecogen Inc.
Forward Looking Statements
This press release contains “forward-looking statements” which may describe strategies, goals, outlooks or other non-historical matters, or projected revenues, income, returns or other financial measures that may include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “target,” “potential,” “will,” “should,” “could,” “likely,” or “may” and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made and we undertake no obligation to update or revise any forward-looking statements.
In addition to those factors described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q under “Risk Factors,” among the factors that could cause actual results to differ materially from past and projected future results are the following: fluctuations in demand for our products and services, competing technological developments, issues relating to research and development, the availability of incentives, rebates and tax benefits relating to our products and services, changes in the regulatory environment relating to our products and services, integration of acquired business operations and the ability to obtain financing on favorable terms to fund existing operations and anticipated growth.
Tecogen Media & Investor Relations Contact Information:
Benjamin Locke, CEO
P: (781) 466-6402
SOURCE: Tecogen, Inc.
View source version on accesswire.com: