Tecogen Signs Contract for Tri-Generation System for New Jersey Hotel
WALTHAM, Mass., Oct. 28, 2014 /PRNewswire/ -- Tecogen® Inc. (NASDAQ: TGEN) today announced it signed a contract with a hotel in New Jersey to provide a tri-generation system consisting of a Tecogen cogeneration system and an absorption chiller. The system will provide electricity, hot water, and cooling to the hotel facility. The contract value is worth approximately $574,000.
Tri-generation systems combine the benefits of cogeneration systems with an absorption chiller, which use hot water to provide the energy needed to drive the cooling process. Adding absorption chilling allows the cogeneration modules to operate efficiently in the summer months when traditional hot water needs are reduced.
With this Tecogen system the hotel will annually save thousands in electricity, heating and cooling costs. In addition, the Tecogen Ultra emissions system will dramatically reduce greenhouse gas emissions and harmful pollutants (CO, NOx) as compared to traditional cogeneration technology.
The project will utilize Tecogen's Ultra emissions technology, a key component of a "clean technology" certification from the State of New Jersey. This certification states that Tecogen cogeneration systems have been identified as a non-significant source of emissions according to New Jersey emissions regulations. As such, the New Jersey Department of Environmental Protection has determined that Tecogen cogeneration systems do not need air pollution preconstruction permits or operating certificates.
"Tecogen equipment meets and often exceeds emissions requirements in states across the country," said Robert Panora, Tecogen's President and Chief Operating Officer. "Our current and future customers get the best of both worlds, energy efficiency savings and a reduction in greenhouse gas emissions."
The project is supported through incentives from the New Jersey Smart Start Buildings program, which provides financial incentives for commercial, industrial, and governmental customers to integrate energy efficient and renewable technologies into new construction, upgrades, and new cooling and heating equipment installations.
About Tecogen
Tecogen manufactures, installs, and maintains high efficiency, ultra-clean combined heat and power products including natural gas engine-driven cogeneration, air conditioning systems, and high-efficiency water heaters for industrial and commercial use. Tecogen has shipped more than 2,000 units, supported by an established network of engineering, sales, and service personnel across the United States. For more information, please visit www.tecogen.com.
Tecogen Media Contact Information:
David Garrison
P: 781-466-6403
E: David.Garrison@Tecogen.com
Tecogen Investor Contact Information:
John N. Hatsopoulos
P: 781-622-1120
E: jhatsopoulos@tecogen.com
SOURCE Tecogen Inc.
Released October 28, 2014