Tecogen Sells Tecochill® Chiller to Connecticut Hospital

Rhea-AI Summary

Tecogen Inc. (OTCQX: TGEN) announced the sale of a 200-ton Tecochill® chiller to a hospital in central Connecticut, expected to be operational for the 2021 cooling season. The installation aims to provide significant utility cost savings. Tecogen will offer long-term maintenance services for the chiller, facilitated by Clover Corporation, a long-time representative in Connecticut. CEO Benjamin Locke highlighted plans to expand the network of manufacturers' representatives across North America to leverage opportunities in gas cooling amidst rising electric costs.

Positive

• Sale of 200-ton Tecochill® chiller expected to provide substantial utility cost savings.
• Long-term maintenance agreement ensures ongoing benefits for the hospital.
• Expansion of manufacturers' representatives planned to tap into new markets.

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• None.

WALTHAM, MA, May 06, 2021 (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 200-ton Tecochill® chiller to a hospital in central Connecticut.  The system is expected to be operational in time for the 2021 cooling season and will provide substantial utility cost savings to the hospital.  Tecogen plans to provide maintenance services for the system from its service center in Connecticut under a long-term maintenance agreement to ensure that the hospital continues to benefit from the anticipated utility cost savings for years to come.   

The sale was facilitated by Clover Corporation, Tecogen’s manufacturers’ representative in Connecticut, by working closely with the hospital to effectively identify the financial and environmental benefits of Tecochill chillers.  Clover has been Tecogen’s manufacturers’ representative for Tecochill in Connecticut for over twenty years and has facilitated sales of dozens of Tecochill units throughout the state.

“Tecogen has a substantial network of manufacturers’ representatives with relationships in the HVAC industry and as opportunities for gas cooling become more widespread due to increasing electric costs, we expect to expand our network of manufacturers’ representatives to new geographies in North America,” commented Benjamin Locke, Tecogen’s CEO.  “We anticipate adding new manufacturers’ representatives in areas where they can be an effective and productive sales channel across a diverse range of customers including hospitals, universities, manufacturing operations, indoor growing facilities, and multi-family residential buildings.”

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 provides cost efficient, environmentally friendly and reliable products for energy production that, through patented technology, nearly eliminate criteria pollutants and significantly reduce a customer’s 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. For more information, please visit www.tecogen.com or contact us for a free Site Assessment.

Tecogen, InVerde e+, Ilios, Tecochill, Tecofrost, 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 Tecogen's recent press release about?

Tecogen recently announced the sale of a 200-ton Tecochill® chiller to a hospital in central Connecticut.

What benefits does the Tecochill® chiller provide?

The Tecochill® chiller is expected to provide significant utility cost savings for the hospital.

Who facilitated the sale of the Tecochill® chiller?

The sale was facilitated by Clover Corporation, Tecogen's manufacturers' representative in Connecticut.

What are Tecogen's plans for expanding its sales network?

Tecogen plans to expand its network of manufacturers' representatives across North America to target new markets.

When is the Tecochill® chiller expected to be operational?

The Tecochill® chiller is expected to be operational by the 2021 cooling season.