Tecogen Selected for 12 Unit Microgrid Order
WALTHAM, Mass., Dec. 11, 2018 (GLOBE NEWSWIRE) -- 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 that it has secured an order for 12 InVerde e+ units that will be installed in 6 buildings that are part of a large low income housing complex in Manhattan. The microgrid will have 2 InVerde e+ cogeneration modules installed to provide electricity and hot water to each building. In the case of grid outages, the Tecogen system will provide backup power to maintain common area lighting, elevators, water pumps, and other backup circuits. Tecogen was specified by a prominent engineer over alternative cogeneration options due to the technical superiority of the InVerde e+ system, which provides the best savings and cost benefit to the complex.
“We have been working on this project for some time to develop a solution that maximizes savings to the customer and reaches an acceptable payback for their investment,” stated Benjamin Locke, Tecogen’s CEO. “This is our fifth large microgrid system installed in large low-income housing complexes in New York City, and adds to our existing fleet of over 250 microgrid enabled CHP systems operating in the US.”
The order qualifies for incentives from the NYSERDA program, and includes a 5 year factory maintenance agreement. Tecogen’s large factory service presence with 25 factory trained technicians in three service centers in the New York City area was a key factor in selecting Tecogen for the project.
About Tecogen
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 is known for cost efficient, environmentally friendly and reliable products for energy
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 across the United States. For more information, please visit www.tecogen.com or contact us for a free Site Assessment.
Tecogen, InVerde e+, Ilios, Tecochill, and Ultera are registered or pending trademarks of Tecogen Inc.
Forward Looking Statements
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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
E: Benjamin.Locke@Tecogen.com
Released December 11, 2018