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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 Inc. (TGEN) is set to release its third-quarter financial results on November 11, 2021. The earnings press release and supplemental materials will be accessible on their website. Senior management will hold a conference call at 11:00 AM ET the same day to discuss the financial performance. Interested participants can join via telephone or webcast, with playback options available post-call. Tecogen, with over 35 years in the business, focuses on high-efficiency cogeneration products, aiming to reduce carbon footprints for various applications.
Tecogen (OTCQX: TGEN), a clean energy firm, will present at the 2021 LD MicroCap Investor Conference in Los Angeles on October 12, 2021, at 12:00 PM PT. CEO Benjamin Locke will host both in-person and virtual sessions, discussing the Company's innovative energy solutions aimed at reducing costs, greenhouse gas emissions, and alleviating power grid congestion. This marks the first in-person LD Micro event in nearly two years, highlighting the increasing focus on clean energy technologies. Conference registration is available online.
Tecogen (OTCQX: TGEN) has announced an order for three 400-ton Tecochill chillers for a cannabis cultivation facility in Massachusetts. This marks the 23rd facility to adopt Tecochill, which helps eliminate the need for about 750 kW of electric capacity compared to electric chillers. With the growing demand for cooling solutions, Tecogen's products allow cannabis growers to focus electrical resources on other essential operations, avoiding costly upgrades. Over 7.5 megawatts of clean cooling have been sold to similar facilities, promoting economic and environmentally friendly practices.
Tecogen Inc. (OTCQX: TGEN), a leader in clean energy solutions, will present at the H.C. Wainwright 23rd Annual Global Investment Conference from September 13-15, 2021. CEO Benjamin Locke and CFO Abinand Rangesh will lead the presentation, available from 7:00 AM ET on September 13. Registered investors can also engage in one-on-one meetings with the management team. With over 35 years in business, Tecogen specializes in high-efficiency cogeneration products, aiming to significantly reduce carbon footprints and criteria pollutants.
Tecogen Inc. (OTCQX:TGEN) announced the sale of a 200-ton Tecochill chiller to an assisted living facility in southwestern Connecticut, aimed at providing seasonal cooling and utilizing waste heat for hot water. This system enhances energy efficiency, reduces reliance on backup generators during grid outages, and lowers operational costs amidst rising electric rates. Maintenance services will be provided by Tecogen. The move highlights the growing demand for energy-efficient solutions in critical care facilities.
Tecogen Inc. (OTCQX:TGEN) reported a net income of $0.4 million for Q2 2021, marking a significant turnaround from a net loss of $0.7 million in Q2 2020. For H1 2021, net income reached $2.2 million, a $4.1 million improvement year-over-year. Revenue for Q2 2021 was $6.1 million, down 17.3% from Q2 2020, driven by a 35.4% decline in product sales. Gross margin increased to 47.5% for H1 2021. Operating expenses were reduced by 7% in Q2. The company also benefitted from CARES Act payroll support and reported an increased backlog of $10.4 million.
Tecogen (OTCQX: TGEN) has announced an order for two InVerde e+ cogeneration systems for a large residential building in Manhattan. This energy-efficient system will provide power year-round, significantly reducing the building's carbon footprint. With New York City's high electric rates, Tecogen aims to deliver substantial cost savings and compliance with GHG reduction goals. The InVerde units will also ensure power supply during outages, addressing resilience concerns. Tecogen has supplied over 3,000 units, achieving over 5 million operating hours.
Tecogen Inc. (OTCQX: TGEN) announced an order for four Tecochill systems, totaling 900 tons, to replace an outdated chiller plant at a New York City hospital. This upgrade enhances the hospital's heating, cooling, and emissions controls, aimed for operational status by summer 2022. The company has been providing reliable energy savings for over 20 years. The new system will help the facility achieve its Environmental, Social, and Governance (ESG) goals while significantly reducing energy costs and greenhouse gas emissions.
Tecogen Inc. (TGEN) announced an order for six 125 kW InVerde cogeneration units for a medical center in New Jersey. This system aims to optimize energy savings and reduce the center's carbon footprint. The installation will be supported by Tecogen's New Jersey service center and facilitated by D&B Building Solutions, an experienced HVAC product supplier. Tecogen emphasizes the growing demand for its cogeneration systems in the healthcare sector, with a focus on sustainability and cost savings. The company has over 35 years in the market, having shipped more than 3,000 units.
Tecogen (TGEN), a clean energy company, has secured 25 long-term maintenance contracts for 31 InVerde e+ cogeneration systems in a Toronto residential complex. The contracts, spanning 20 years, will ensure consistent servicing from Tecogen’s Ontario center, which was established in March 2020. The InVerde systems will deliver electricity and hot water, with an expected uptime of over 93%, enhancing savings for clients and generating service revenue for Tecogen. This marks a significant expansion in Tecogen’s operational footprint in Canada.
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