Tecogen Builds Momentum in Indoor Ag Market with Chiller Sales
WALTHAM, Mass., June 8, 2016 /PRNewswire/ -- Tecogen® Inc. (NASDAQ: TGEN) is pleased to announce the sale of two Tecochill® 50-ton air-cooled chillers for installation in an indoor growing facility in Canada. Dramatically reducing the facility's electric use by switching cooling loads over to the efficient natural gas engine-driven chillers, the Tecochill units not only provide material cost savings to the facility but also serve as a free source of carbon dioxide (CO2). When fitted with Tecogen's ultra-clean Ultera® emissions control technology, this clean exhaust from the units may be recycled for use in plant nourishment to improve growing conditions.
Speaking about the sale, Benjamin Locke, Tecogen co-Chief Executive Officer said, "The market opportunity in the rapidly-expanding indoor-agriculture segment is significant. This chiller order follows on Tecogen's first sales into the indoor agriculture space in February and our recent participation at a growing-focused event in May, demonstrating promising sales momentum in the segment," (see prior press release here). "In an industry where electricity is often among the customer's highest on-going expenses, our natural gas powered chillers offer an efficient alternative. These chillers lower electric bills, free electric capacity for other useful purposes, and reduce demand on emergency standby systems, all while generating free waste heat for heating and humidity control and CO2-rich exhaust for plant nourishment."
The only natural gas engine-driven chiller on the market, Tecochill cuts costs by as much as 30-60% when compared to conventional electric chillers. By running on inexpensive and reliable natural gas, Tecochill chillers can help agricultural customers avoid punitive peak electrical demand charges. As an added bonus, additional savings can be realized by recovering free waste heat from the engines' water jackets and exhaust streams, for use in space conditioning, heating, and humidity control in the grow areas. The true power of the Tecochill technology is most evident in the summertime when electricity rates are at their highest while natural gas pricing is "off peak" and especially affordable. In addition, Tecochill chillers require minimal electric load during electrical blackouts. Because the chillers are fed by reliable natural gas, customers can be assured their buildings will remain cool and their crops will not experience adverse temperature fluctuations during outages, while minimizing demand on backup power generators.
Tecogen® Inc. designs, manufactures, sells, installs, and maintains high efficiency, ultra-clean, cogeneration products including natural gas engine-driven combined heat and power, 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 contact us for a free Site Assessment.
Tecogen, InVerde, Ilios, Tecochill, Ultera, and e+, are registered trademarks or trademark pending registration of Tecogen Inc.
Tecogen Media & Investor Relations Contact Information:
Ariel F. Babcock, CFA
John N. Hatsopoulos
P: (781) 466-6413
P: (781) 622-1120
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/tecogen-builds-momentum-in-indoor-ag-market-with-chiller-sales-300281530.html
SOURCE Tecogen Inc.
Released June 8, 2016