Tecogen Announces Order for 3 Hybrid Air-Cooled Chillers and 3 InVerdes from Customer in Florida

Rhea-AI Summary

Tecogen Inc. (TGEN) announces an order for 3 Hybrid Air-Cooled Chillers and 3 InVerde units for a utility customer in Florida. The chillers and InVerdes will be serviced by the Florida service center, offering low-cost natural gas cooling and backup power in the event of a power outage. The company's strategy to broaden their cooling offering and expand target geographies is yielding positive results.

WALTHAM, MA, Feb. 08, 2024 (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 3 Hybrid Air-Cooled Chillers and 3 InVerde units for a utility customer in Florida. The chillers and InVerdes will be serviced by our Florida service center.

“Florida is a perfect market for gas cooling due to the need for cooling and humidity control all year,” noted Steve Lafaille, Vice President of Business Development at Tecogen.  “Our hybrid chiller will have half the lifetime ownership cost compared to an electric chiller. Customers can benefit from low-cost natural gas cooling, while also using the free hot water generated from the chiller for reheat based humidity control. The InVerde units are also able to provide backup power to the facility in the event of a power outage, substantially increasing the customer’s resiliency.”

“Tecogen’s strategy to broaden our cooling offering and expand our target geographies is yielding positive results,” commented Abinand Rangesh, Tecogen’s CEO. “We hope that this will be the first of many new orders in this region as our products not only offer tremendous economic benefits but also provide a resiliency to power outage caused by extreme weather events. With our factory service center in Florida, customers can enjoy comprehensive factory support for all their cooling and power needs.”

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’s cost efficient, reliable, and environmentally friendly products for energy production nearly eliminate criteria pollutants and significantly reduce a customer’s carbon footprint.

In business for over 35 years, Tecogen has shipped more than 3,200 units, supported by an established network of engineering, sales, and service personnel throughout North America. Aggregate run hours on Tecogen’s InVerde cogeneration systems exceed 6 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 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:
Abinand Rangesh, CEO
P: (781) 466-6487
E: Abinand.Rangesh@Tecogen.com

FAQ

What products did Tecogen announce an order for in Florida?

Tecogen announced an order for 3 Hybrid Air-Cooled Chillers and 3 InVerde units for a utility customer in Florida.

What is the ticker symbol for Tecogen Inc.?

The ticker symbol for Tecogen Inc. is TGEN.

Where will the chillers and InVerdes be serviced?

The chillers and InVerdes will be serviced by the Florida service center.

What benefits do customers get from the hybrid chiller?

Customers can benefit from low-cost natural gas cooling and free hot water generated from the chiller for reheat-based humidity control.

What is the CEO's comment on the new order in Florida?

Abinand Rangesh, Tecogen’s CEO, commented that they hope this will be the first of many new orders in the region as their products offer tremendous economic benefits and provide resiliency to power outages caused by extreme weather events.