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Tecogen Inc. (OTCQX: TGEN) is a pioneering manufacturer of combined heat and power (CHP) products, including natural gas engine-driven cogeneration systems, air conditioning systems, and high-efficiency water heaters designed for industrial and commercial use. Based in Waltham, MA, Tecogen specializes in providing innovative solutions that generate electric power, cooling, or hot water while efficiently recycling thermal energy from engines to reduce both energy costs and greenhouse gas emissions.
With an installed base of over 2,000 units, Tecogen boasts a robust network of engineering, sales, and service personnel spread across the United States, ensuring comprehensive support and maintenance services. The company's product lineup includes the celebrated InVerde units, Tecopower Cogeneration systems, Hybrid Air-Cooled Chillers, and more, each designed to provide maximum energy savings and environmental benefits.
Recent achievements underscore Tecogen's growth and commitment to innovation. For instance, the company recently announced orders for multiple Hybrid Air-Cooled Chillers and InVerde units for a utility customer in Florida, as well as 12 Tecopower Cogeneration units for multiple smaller projects. These accomplishments reflect Tecogen’s ability to attract repeat business and its reputation for delivering reliable, high-efficiency energy solutions.
In the most recent fiscal year, Tecogen reported total revenues of $25.1 million and showed significant progress in reducing its adjusted EBITDA loss. The company is focused on increasing its recurring cash flow from energy and services, which would cover fixed costs while securing profitable large-dollar projects. Tecogen's strategic initiatives include expanding its service agreements, recently acquiring contracts for an additional 83 cogeneration units, and expanding its service offerings in Canada, which is expected to bring substantial additional revenue.
Founded over 35 years ago, Tecogen continues to lead the way in providing environmentally friendly and cost-effective energy production solutions. The company’s products nearly eliminate criteria pollutants and significantly reduce customers' carbon footprints. Tecogen's commitment to sustainability and innovation ensures it remains a significant player in the clean energy sector.
For more information, visit Tecogen's website or contact them for a free site assessment.
Tecogen (OTCQX:TGEN) has secured orders for eight 75KW Tecopower cogeneration systems for multiple buildings and customers in the Northeast region. The orders were obtained through Tecogen's project developer relationships. CEO Abinand Rangesh noted that these orders were anticipated during the November investor call, fulfilling expectations to increase the company's backlog before year-end.
Tecogen (OTCQX:TGEN) has secured orders for twelve cogeneration systems for multiple buildings in the Northeast through their project developer relationships. The announcement comes amid rising power prices nationwide due to insufficient electrical capacity, with consumers facing year-on-year energy bill increases of 10% or more. CEO Abinand Rangesh highlighted cogeneration as an effective solution for reducing both energy expenses and greenhouse gas footprint.
Tecogen (OTCQX:TGEN) has received orders for seven 400-ton DTX chillers for the Las Vegas Convention Center. The chillers are part of a modernization project for the center's Central Cooling Plant. The natural gas chillers will help reduce expensive peak-time electricity charges during conventions when energy and cooling loads spike. The installation is scheduled for 2025 and includes a comprehensive 10-year service contract. Tecogen will establish a new service center in Las Vegas, which the company expects to catalyze additional projects in Nevada.
Tecogen Inc. (OTCQX:TGEN) reported Q3 2024 financial results with revenues of $5.63 million, down 20.8% from $7.11 million in Q3 2023. The company posted a net loss of $0.93 million, compared to a $0.48 million loss in the same period last year. The decrease in revenue was primarily due to manufacturing operations relocation in April 2024. The company's backlog increased to $10.8 million, with cash balance at $1.28 million, supported by $1.0 million additional funding from related parties. Tecogen expects sequential revenue growth and is progressing towards its first data center projects by early 2025.
Tecogen (OTCQX:TGEN) has announced its Q3 2024 earnings release and conference call schedule. The company will release financial results on Thursday, November 14th, with a conference call and webcast at 9:30 AM Eastern Time on the same day. The earnings release and supplemental slides will be available on Tecogen's website. Investors can access the call by dialing 877-407-7186 (US/Canada) or 201-689-8052 (International). A playback option will be available one hour after the call using Conference Call ID #13672659.
Tecogen Inc. (OTCQX:TGEN) reported Q2 2024 results with revenues of $4.7 million and a net loss of $1.5 million, compared to revenues of $6.7 million and a net loss of $0.8 million in Q2 2023. The company generated $0.1 million in cash from operations during H1 2024. Key points:
- EPS for Q2 2024 was $(0.06)/share vs $(0.03)/share in Q2 2023
- Products revenue decreased 95.1% due to manufacturing relocation
- Service revenue increased 4.4% to $4.1 million
- Energy Production revenue increased 37.5% to $482,000
- Gross margin improved to 44.0% from 42.0% in Q2 2023
- Adjusted EBITDA was negative $1.3 million for Q2 2024
CEO Abinand Rangesh expressed optimism about new markets and potential product orders in Q3 2024.
Tecogen Inc. (OTCQX:TGEN) has announced the schedule for its Q2 2024 earnings release and conference call. The company will release its financial results on Thursday, August 8th. A conference call and webcast with senior management will be held on the same day at 9:30 AM Eastern Time to discuss the company's Q2 2024 financial performance.
Investors can access the earnings press release and supplemental call slides on Tecogen's website in the 'Investor Relations' section under 'Financial Results'. To participate in the audio portion of the call, dial 800-715-9871 (US/Canada) or 646-307-1963 (international) and ask to join the Tecogen earnings call or enter company ID 3016326. A webcast option is also available. The call will be recorded and available for playback one hour after it ends.
Tecogen has announced the acquisition of balance of plant service contracts in Canada, significantly expanding their current agreements. Previously, Tecogen serviced only cogeneration units, but the new contracts include ancillary equipment, leading to a projected annual revenue increase of $400,000 to $500,000 for their Canadian service center. CEO Abinand Rangesh expressed satisfaction with the expanded services, highlighting the potential for sustained revenue growth and future expansion in Ontario.
Tecogen Inc. reported revenues of $6.2 million with a 15% QoQ increase compared to the previous year. The net loss decreased to $1.1 million from $1.5 million in 2023. Cash from operations was $0.2 million, ending with a cash balance of $1.5 million. The company highlighted record service revenue, positive cash flow, and no further line of credit drawdowns.
Tecogen Inc. (TGEN) has acquired service agreements for 31 additional cogeneration units, totaling 83 for the year. In February, the company acquired agreements for 52 units, with 16 presently in operation and 36 to be online later this year. Tecogen's CEO, Abinand Rangesh, highlighted that service contracts increase uptime, leading to higher customer savings. The company plans to secure more service contracts to boost revenue and cover fixed costs while pursuing larger product orders.
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