Tecogen Announces First Sale of Innovative InVerde e+
Clean Cogeneration Technology to Power New Brooklyn Housing Development
WALTHAM, Mass., Feb. 23, 2016 /PRNewswire/ -- Tecogen® Inc. (NASDAQ: TGEN) is pleased to announce the first sale of the Company's cutting-edge InVerde INV-100e+. Just weeks after the launch of Tecogen's latest innovation in clean cogeneration (read about the InVerde e+ here: http://investors.tecogen.com/news-releases), the Company sold two units to be installed in a new mixed-income residential development in Brooklyn, NY. The product's unique power control and new improved engine design will provide the building managers with the best energy saving solution available.
Worth approximately half a million dollars, the sale includes the premier Ultera™ near-zero emissions control technology, various load modules, and factory engineered accessories. Thanks to the e+'s, qualification as an NFPA Type 10 Emergency Power System capable of providing backup power in case of grid failure, advanced power controls, and improved electrical efficiency, the new property will enjoy enhanced energy savings and building resilience, all while cutting its carbon footprint in half (when compared to traditional equipment solutions).
"Although the InVerde e+ has only been on the market a few weeks, this sale is a testament to the value proposition our innovative new features offer customers," said Robert Panora, Tecogen's president and chief of operations. "Through installation of our cutting edge clean technology, building managers are offered a more complete package for their site's energy needs, including emergency backup power, with a fully integrated building energy management system."
Providing on-site power generation as well as heating and cooling capabilities, the InVerde e+ offers best-in-class electrical efficiency, patented engine control technology, integrated Microgrid hardware, and customized power electronics. Requiring just 4 inches of water column gas pressure, the e+ allows customers to avoid installation of additional pressure enhancement equipment demanded by competitive products by connecting to virtually any standard gas pipe without modification of the gas supply line. Similarly, the e+ meets the rapid 10 second blackstart requirement for Emergency Power Supply Systems as per the National Fire Protection Association's specifications, giving customers the peace of mind they will never be left in the dark.
Tecogen manufactures, installs, and maintains high efficiency, ultra-clean, combined heat and power products including natural gas engine-driven cogeneration, air conditioning systems, and high-efficiency water heaters for residential, commercial, recreational and industrial use. The company is known for 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 20 years, Tecogen has shipped more than 2,300 units, supported by an established network of engineering, sales, and service personnel across the United States. For more information, please visit www.tecogen.com or follow us on Twitter, Facebook, and LinkedIn.
Tecogen, InVerde, Ilios, Tecochill, Ultera, and e+, are registered trademarks of Tecogen Inc.
Forward Looking Statements
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Company's website and in Securities and Exchange Commission filings. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
Tecogen Media & Investor Relations Contact Information:
Ariel F. Babcock, CFA
John N. Hatsopoulos
P: (781) 466-6413
P: (781) 622-1120
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Released February 23, 2016