Tecogen Receives Multiple Chiller Order for Cannabis Cultivation Facility
WALTHAM, MA, July 13, 2021 (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 an order for two 300-ton Tecochill® chillers for an indoor cannabis cultivation facility in Massachusetts. This order brings the total installed capacity of Tecochill chillers sold to cannabis cultivation facilities to 10,850 tons. The chillers are expected to be serviced out of Tecogen’s Waltham service headquarters.
“We are excited to work with this customer and their design team,” noted Stephen Lafaille, Vice President of Business Development. “The reliability and dependability of the Tecochill solution are particularly important for cultivation facilities that require critical process cooling 24 hours a day, 365 days a year to attain the expected operational cost savings and crop yields. The cost savings are often the driver for initial consideration, but it is our track record of operational performance in other cultivation facilities that secures the order once clients complete their due diligence.”
Indoor cultivation facilities require constant temperature and humidity control for optimal plant growth. Maintaining consistent environmental conditions every day of the year is paramount, making reliability and dependability important factors when selecting equipment.
“The Controlled Environment Agriculture (CEA) space continues to be a strong market for our chillers,” noted Benjamin Locke, Tecogen’s CEO. “These units are expected to achieve over 99% uptime, which maximizes the savings for our customer as well as our service revenues which are tied to equipment utilization. We are optimistic that the Tecochill solution will also be included in the next phase of this customer’s expansion.”
About Tecogen
Tecogen Inc. designs, manufactures, installs, and maintains high efficiency and ultra-clean cogeneration products, including combined heat and power systems, air conditioning systems, and high-efficiency water heaters for residential, commercial, recreational, and industrial applications. The company’s cost efficient, reliable, and environmentally friendly products for energy production nearly eliminate criteria pollutants and significantly reduce customers’ 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. Aggregate run hours on Tecogen’s InVerde cogeneration systems exceeds 5 million hours. For more information, please visit www.tecogen.com or contact us for a free Site Assessment.
Tecogen, InVerde e+, Ilios, Tecochill, Tecofrost, Tecopack, Tecopower, and Ultera are pending or registered 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" 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. 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 under “Risk Factors,” 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 our operations and growth.
Tecogen Media & Investor Relations Contact Information:
Benjamin Locke, CEO
P: (781) 466-6402
E: Benjamin.Locke@Tecogen.com
Released July 13, 2021