Tecogen Receives Tecochill Order for Massachusetts Cultivation Facility

WALTHAM, MA / ACCESSWIRE / June 17, 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 orders for two 400-ton Tecochill chillers for a cannabis cultivation facility in Massachusetts. The chillers will provide cooling for the facility using inexpensive natural gas, with the free waste heat utilized for dehumidification. A maintenance contract is expected to be executed once the units are installed later this year and will be serviced out of Tecogen's Waltham factory service center. The customer also plans to install additional Tecochill systems in the second phase of the facility.

The Tecochill units for this facility reduce its electric capacity requirements by approximately 600 kW, thereby reducing both operating costs and facility infrastructure requirements. The two 400-ton Tecochill chillers are also expected to reduce the facility's GHG footprint by more than 700 tons/year compared to electric cooling.

"Cultivation facility owners understand that reducing energy costs is essential for long term viability in a highly competitive market," noted Stephen Lafaille, Director of Business Development at Tecogen, "Although electric chillers promise low initial capital costs, operating costs for electric chillers can become problematic, particularly given the increasing competitive challenges for cannabis cultivation facilities."

Tecogen has provided Tecochill chillers for 14 Massachusetts cannabis cultivation facilities, providing significant cost savings and greenhouse gas benefits when compared to traditional electric chillers. All of the facilities received energy efficiency incentives from local utilities for achieving efficiency goals, thereby reducing the capital cost to install equipment providing efficient gas cooling.

"This is our 35^th Tecochill sold in the North American indoor cannabis cultivation industry, with more projects in our backlog," added Benjamin Locke, Tecogen CEO. "The Tecochill solution provides compelling operational cost savings similar to a traditional cogeneration system, but at a much lower capital cost, and provides long-term operational cost savings as well as resiliency to grid interruptions."

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 June 17, 2020