Tecogen Receives Order for Three Tecochill Chillers for Connecticut High School

Rhea-AI Summary

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.

Positive

• Order for three 400 ton Tecochill chillers, enhancing operational efficiency.
• Projected reduction of over 1,100 tons of carbon emissions annually.
• Includes a year of service and maintenance, with prospects for a long-term agreement.

Negative

• None.

WALTHAM, MA, July 07, 2022 (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 three 400 ton Tecochill chiller systems by a municipality in Connecticut.  The chillers will provide seasonal cooling at a high school in southwestern Connecticut with the free hot water used for dehumidification.  The 1,200 tons of Tecochill chillers replace a different manufacturer’s aging and inefficient absorption chiller system and will reduce carbon emissions by more than 1,100 tons per year compared to the existing cooling plant. 

The purchase of the Tecochill chillers includes one year of service and maintenance, and it is anticipated that the municipality will enter into a long-term service and maintenance agreement for the three new chillers.  Tecogen has provided maintenance services for the municipality for over 20 years from its Connecticut service center for existing Tecochill chillers at the high school and an elementary school in the district. 

“While the greenhouse gas reductions anticipated from switching to the Tecochill chillers were very compelling, it was the substantial cost savings that drove the sale to this municipality,” noted Benjamin Locke, CEO of Tecogen. “Electric rates in southwestern Connecticut are among the highest in the country, making the Tecochill solution a very cost-effective energy saving measure.”

The sale was facilitated by Clover Corporation, Tecogen’s manufacturers’ representative in Connecticut for over twenty years.  Clover has facilitated sales of dozens of Tecochill chillers throughout the state.

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 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

FAQ

What recent order did Tecogen (TGEN) secure?

Tecogen secured an order for three 400 ton Tecochill chiller systems from a municipality in Connecticut.

How much will the new chillers reduce carbon emissions?

The new chillers are projected to reduce carbon emissions by over 1,100 tons per year.

What is the anticipated cost impact of the new chillers for the municipality?

The Tecochill solution is expected to provide substantial cost savings due to high electric rates in southwestern Connecticut.

What maintenance support does Tecogen offer for the new chillers?

The purchase includes one year of service and maintenance, with a potential long-term service agreement.