TECOGEN INC - TGEN STOCK NEWS

Tecogen (OTCQX: TGEN) has secured an order for three 400 ton Tecochill chiller systems from a Connecticut municipality, aimed at replacing an old absorption chiller system. This installation is projected to reduce carbon emissions by over 1,100 tons annually and will provide cost-effective cooling, addressing high local electric rates. The $1,200 tons of chillers include one year of service, with potential for a long-term maintenance agreement, reflecting Tecogen's 20 years of service experience in the area.

Tecogen, Inc. (OTCQX:TGEN) reported Q1 2022 revenues of $7.4 million, a 22.8% increase from Q1 2021. However, net income fell to $89 thousand from $1.8 million due to previous CARES Act support. Earnings per share (EPS) were $0.00 compared to $0.07 in 2021. Product revenue surged 85.6% to $3.9 million, while services revenue declined 11.1% to $2.9 million. Gross profit slightly improved to $3.1 million but gross margin decreased to 41.6%. Operating expenses decreased by 2.6% to $3.01 million.

Tecogen (OTCQX: TGEN) will announce its Q1 2022 financial results on May 12, 2022. The earnings press release and supplementary materials will be accessible on their website. A conference call will follow at 11:00 AM ET, where senior management will discuss the financial performance. Tecogen specializes in high-efficiency, ultra-clean cogeneration products, with over 3,000 units shipped and 5 million hours of operational runtime on their systems. For live access, dial (877) 407-7186 (US) or register for the webcast on their website.

Tecogen Inc. (OTCQX:TGEN) reported a net income of $3.7 million for FY 2021, a significant recovery from a $6.2 million loss in 2020. Q4 2021 net income was $63,000, compared to a loss of $4.1 million in Q4 2020. The company achieved a gross margin of 47.5% for FY 2021, up from 38.3% in 2020. Revenues for FY 2021 were $24.4 million, a decline from $28.3 million in 2020. Product revenue in Q4 2021 increased by 92% year-over-year, although overall services revenue fell by 6.2%. Operating expenses decreased by 23.7% for the year, attributed to prior impairments and cost controls.

Tecogen Inc. (OTCQX: TGEN) plans to release its year-end 2021 financial results on March 10, 2022. The earnings press release and related materials will be accessible via the company’s website in the Investor Relations section. A conference call with senior management to discuss the financial performance will occur at 11:00 AM ET on the same day. The call will be available live and recorded for later playback, with specific dialing instructions provided for participants.

Tecogen Inc. (OTCQX:TGEN) provided a shareholder update highlighting its 2021 accomplishments and expectations for 2022. The company reported record quarterly revenue in Q4 2021, driven by a 15% increase in service contract revenues, totaling $11.6 million. Tecogen shipped 3,500 tons of chiller capacity and currently has a backlog worth $11.5 million. Anticipating strong growth in the controlled environment agriculture market, the firm aims to expand its product offerings. The launch of the new Tecochill Hybrid Drive system is expected later this year.

Tecogen (OTCQX: TGEN) announced an order for 8 InVerde e+® units to enhance a hotel’s power supply in New York City, collectively rated at one megawatt. The units will improve energy resiliency and leverage Tecogen's microgrid technology for efficient operation. Shipment is set for mid-2022, with the service provided from their Brooklyn facility, already servicing existing systems at the hotel. This development reflects an increasing partnership with the hotel, addressing its growing energy needs and aligning with Tecogen's focus on clean energy solutions.

Tecogen (OTCQX:TGEN) reported a net income of $1.5 million for Q3 2021, an improvement of $1.7 million from a net loss in 2020. Year-to-date net income reached $3.6 million, up by $5.7 million compared to a loss in the same period last year. Revenue for Q3 was $5.0 million, down 30.3% from 2020, attributed to lower product sales and installation activity. Despite a gross margin increase to 46.7%, operating expenses rose by 8.6%. A sales backlog of $11.4 million signals potential recovery in product sales as supply chain issues ease.

Tecogen (TGEN), a leader in clean energy solutions, announced an order for twelve InVerde e+® cogeneration units and three Tecochill® chillers for a controlled environment agriculture facility. This order will minimize electrical capacity needs by approximately 2.5 MW, enhancing the company's market position in CEA applications. Tecogen's technology not only supports operational cost savings but also contributes to greenhouse gas reductions. CEO Benjamin Locke noted the global CEA market is projected to reach $172 billion in five years, highlighting significant growth potential for Tecogen’s microgrid solutions.