Tecogen Announces Sale of InVerde e+ to Mixed Use Building in Ontario
WALTHAM, MA, Sept. 15, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- 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 an InVerde e+ cogeneration system to a residential and commercial building located in Sarnia, Ontario. The 125 kW system will reduce the building’s energy costs while providing black-start backup power during grid outages. Once installation is completed in 2021, the system will be serviced from Tecogen’s service center in Toronto, Canada.
“Tecogen’s InVerde e+ system provides reliable backup power while maximizing energy savings for large mixed-use facilities,” stated Jeff Glick, Vice President of East Coast Sales at Tecogen. “In addition to significant cost savings, residents and businesses in the facility can have peace of mind knowing the building can continue to operate during grid outages.”
The InVerde e+ cogeneration system can provide backup power within ten seconds of a grid outage and will continue to provide power and heat throughout grid outages using pipeline gas. Tecogen also incorporates a proprietary microgrid controller which can provide seamless transition to and from the grid during outages.
“I am glad to see our InVerde fleet grow in Ontario,” noted Benjamin Locke, Tecogen’s CEO. “With proper factory service, our systems can run for decades while maintaining performance and savings for customers. Our goal when we opened our Toronto service center in May was to create customer confidence in maintaining their investment for many years to come, and with the additional resources of Ainsworth, our teaming partner in Ontario, we expect to increase installations of new cogeneration and chiller systems in Ontario that will be serviced from our Toronto service center.”
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
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," "project," "target," "potential," "will," "should," "could," "likely," or "may" and similar expressions 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. Given these uncertainties, you should not place undue reliance on these 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 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
Released September 15, 2020