Tecogen Receives Tecochill Order for Florida Gas Company

WALTHAM, MA / ACCESSWIRE / May 7, 2020 / Tecogen Inc. (NASDAQ:TGEN), a clean energy company providing ultra-efficient and clean on-site power, heating and cooling equipment, is pleased to announce an order for a Tecochill® CH-50 air-cooled chiller from a municipal gas utility in Florida. The system is replacing an existing Tecochill chiller that has reached its end of useful life. The system will provide cooling for the company's headquarters as well as free hot water for domestic purposes and will be serviced out of Tecogen's Florida factory service center.

"Our air cooled Tecochill system has operated at this customer's facility for over 20 years," noted Stephen Lafaille, Director of Business Development at Tecogen. "The operational cost savings of gas cooling over that time was substantial, so when the time came to plan a replacement, the facility owners immediately choose to continue cooling with a new unit. Our factory service center in Florida was also a key part of the customer's decision to continue using Tecochill, hopefully for another 20 years."

Florida has some of the lowest gas rates in the country, and gas utilities are looking at additional ways to expand gas consumption in the state. The state recently approved natural gas as an emergency fuel for assisted living facilities, whereas traditional electric chillers require the purchase of an equivalently sized diesel-powered standby generator to continue operating the chillers in a power outage. Many Florida utilities also offer discounted gas delivery tariffs to customers using Tecogen equipment, as well as energy efficiency incentives. Customers who are able to purposefully use the free recovered engine waste heat can also qualify for the 10% investment tax credit (ITC) offered by the federal government for combined heat and power systems.

"Both our Tecochill line of gas-powered chillers and our flagship InVerde e+ cogeneration product can be an integral part of a facility's solution to meet resiliency goals," stated Benjamin Locke, Tecogen Chief Executive Officer. "Our Tecochill chillers use less than 1% of the electricity required to operate an electrical chiller providing the same cooling capacity, significantly reducing the amount of required standby power generation equipment. As Florida continues to address resiliency concerns due to weather related power outages, we are working with local gas companies to identify gas cooling opportunities."

About Tecogen

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 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 our 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

SOURCE: Tecogen, Inc.

Released May 7, 2020