WALTHAM, MA – (NewMediaWire) – October 15, 2020 – Tecogen Inc. (OTCQX: TGEN), a clean energy company providing ultra-efficient and clean on-site power, heating, and cooling equipment, is pleased to announce the sale of three 75 kW Tecopower systems to an Energy Services Company (ESCO). The units will be installed on behalf of a Housing Authority in Massachusetts. The system replaces a competitor’s existing cogeneration system that was retired early.
“Our track record of service longevity and expertise was an important consideration for this ESCO,” noted Stephen Lafaille, Director of Business Development at Tecogen. “Long term energy savings contracts need assurance that their energy saving measures will remain viable for the duration of the contracts, some of which are upwards of 20 years. Tecogen’s track record of maintaining system uptime and peak operational performance over decades speaks for itself.”
The Tecopower system was introduced by Tecogen in the mid-1980s as the first modular cogeneration system. Since then, Tecogen has delivered thousands of systems in the United States and maintains the largest fleet of modular cogeneration systems in the country. Many of Tecogen’s Tecopower units are operating at housing authority buildings across the country, as many have come to value the energy savings and rely upon the operational cost savings to balance their budgets.
“I am very proud of the role our service fleet plays in creating customer confidence,” stated Benjamin Locke, Tecogen’s CEO. “We establish reliability goals for each of our 11 service centers that ensure our fleet operates at peak efficiency. The more our systems operate, the more savings customers will generate from our systems. We look forward to working with this ESCO on this project and future opportunities.”
Tecogen Inc. designs, manufactures, sells, installs and maintains high efficiency, ultra-clean, cogeneration products including 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 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,” “likely,” or “may” that are 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. 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 the Risk Factors described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, factors that could cause our actual results to differ materially from past and projected future results include the impact of the coronavirus pandemic on demand for our products and services, the availability of incentives, rebates and tax benefits relating to our products, changes in the regulatory environment relating to our products, competing technological developments, and the availability of financing to fund our operations and growth.
Tecogen Media & Investor Relations Contact Information:
Benjamin Locke, CEO
P: (781) 466-6402