Tecogen Announces Order for TecoChill® Air-Cooled Chiller

WALTHAM, MA, Oct. 06, 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 a TecoChill® CH-50 air-cooled chiller to a large residential facility in Connecticut.  The 50-ton chiller will replace an existing TecoChill 25-ton chiller to satisfy increased cooling load at the facility.  The air-cooled system provides chilled water without the need for a cooling tower and is installed outdoors for ambient air cooling of the condenser.  The project qualifies for a $300/ton incentive for grid congestion reduction at peak times and will be installed in time for the 2021 cooling season.  Tecogen will service the upgraded system from its East Windsor, Connecticut factory service center.

“The TecoChill CH-50 is the ideal solution for facilities that have insufficient electrical capacity for an equivalently sized electric chiller system or that do not have the three-phase power needed to run large electric air-cooled chillers,” noted Jeffrey Glick, Vice President of East Coast Sales at Tecogen. “Cooling the facility with an electric alternative would add 60 kW of three-phase electric service during the summer months when grid electrical capacity is both expensive and vulnerable to outages.  In addition to increased operational cost savings from the TecoChill system, the system reduces the standby generator capacity needed to keep the facility cooled during grid outages.”

“This sale confirms the trend towards displacing electric chiller systems with natural gas engine driven chillers,” stated Benjamin Locke, Tecogen’s CEO.  “Our TecoChill and Tecofrost systems generate operational cost savings compared to the cost of electrical cooling and significantly reduce the amount of standby generator capacity needed during grid outages. For many facilities, Tecogen’s gas driven cooling technology is the most cost-effective way to reduce operational costs, reduce greenhouse gas emissions, and provide increased resilience to grid outages.” 

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," “likely," or "may" that are 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. 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 the “Risk Factors,” described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q, factors that could cause our actual results to differ materially from past and projected future results include the impact of the coronavirus pandemic on demand for our products and services, the availability of incentives, rebates and tax benefits relating to our products, changes in the regulatory environment relating to our products, competing technological developments, and the availability of financing to fund operations and growth.

Tecogen Media & Investor Relations Contact Information:

Benjamin Locke, CEO

P: (781) 466-6402

E: Benjamin.Locke@Tecogen.com

Released October 6, 2020