Tecogen Receives Tecochill Order for Arizona Cultivation Facility

Rhea-AI Summary

Tecogen (TGEN) announced the sale of a 400-ton Tecochill chiller to a new indoor cultivation facility in Arizona, utilizing inexpensive natural gas for cooling and free waste heat for dehumidification. With a 25% discount on gas delivery from Southwest Gas, operational costs are further reduced. CEO Benjamin Locke highlighted the growing market for chillers in indoor cultivation, emphasizing the importance of cost savings. Tecogen has over 35 years of experience and has shipped more than 3,000 units across North America.

Positive

• Sale of a 400-ton Tecochill chiller to a growing market for indoor cultivation facilities.
• Operational cost savings due to the use of inexpensive natural gas and a 25% discount on gas delivery.
• Anticipation of continued sales growth for indoor cultivation throughout 2022.

Negative

• None.

WALTHAM, MA, July 12, 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 the sale of a 400-ton Tecochill chiller to an indoor cultivation facility being built in Arizona. The chiller will provide cooling for the facility using inexpensive natural gas, with the free waste heat utilized for dehumidification. A maintenance contract is expected to be executed once the units are installed later this year and will be serviced out of Tecogen's West Coast factory service center.

Many gas companies provide discounted gas to customers that meet certain standards for operation.  In this case, Southwest Gas is providing a 25% discount on gas delivery for use in the Tecochill system, further reducing the cost of operating the Tecochill system.    

“Indoor cultivation facilities continue to be a strong market for our chillers,” noted Benjamin Locke, Tecogen’s CEO.  “As the rapid growth of these facilities continues, the importance of operational cost savings becomes more important.  The Tecochill solution provides significant cost savings compared to traditional methods of facility cooling and dehumidification.  We anticipate continued sales for indoor cultivation throughout 2022.”

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 is the significance of Tecogen's sale of a 400-ton Tecochill chiller?

The sale underscores Tecogen's presence in the growing indoor cultivation market, emphasizing energy efficiency and cost savings.

How does the 25% discount from Southwest Gas affect Tecogen's operations?

The discount significantly reduces the operating costs associated with the Tecochill system, enhancing its competitive advantage.

What market is Tecogen targeting with its Tecochill systems?

Tecogen is focusing on the indoor cultivation facilities market, which is rapidly expanding and requires efficient cooling solutions.

What is Tecogen's strategy for maintaining its market position?

Tecogen aims to continue providing energy-efficient and cost-saving solutions for indoor cultivation, anticipating further sales growth.