Tecogen Partners with Major ESCO on Multiple Education Sector Projects
Funds from energy savings to be re-directed toward supporting core education mission
WALTHAM, Mass., July 20, 2016 /PRNewswire/ -- Tecogen® Inc. (NASDAQ: TGEN) is pleased to announce additional project wins from a major multi-national energy service company (ESCO). Tecogen's induction-based CM-75 combined heat and power (CHP) units will be installed in three different schools in and around New York and New Jersey. Total combined deal value for the projects is approximately half a million dollars.
The clean natural-gas powered CHP equipment is being installed as part of a broader package of energy efficiency initiatives being undertaken at all three schools. Benjamin Locke, Tecogen's Co-Chief Executive Officer noted, "As was recently demonstrated by our large multi-unit project win announced in April for a Long Island school district, cogeneration equipment makes a lot of sense for educational facilities. For a school district focused on budgeting, these types of energy efficiency initiatives help free valuable resource dollars that can be redirected toward a school's core mission of education."
The orders include Tecogen's custom factory engineered accessories and load modules to help speed installation. Mr. Locke added, "Work done for a school tends to have a rapid construction calendar; projects ideally need to be completed in the summertime while school is not in session to avoid disruption to the learning-environment. This type of project lends itself well to our prefabricated engineered systems. Because accessories and load modules are custom made in our factory and then shipped to the site, the installation schedule can be compressed to meet a tight project completion deadline. We have worked with ESCO partners on a number of projects at educational facilities and have developed solid working relationships with these groups. These ESCO teams understand the value proposition of efficient cogeneration equipment and appreciate the unique features and capabilities Tecogen is able to offer."
The Tecogen CM-75 units will provide electrical power for the schools and supplement various onsite heating systems, resulting in a significant cost savings to the school districts as well as reduced carbon footprint. Fitted with Tecogen's unique and patented Ultera technology, emissions of harmful criteria pollutants that contribute to health and smog problems (including nitrogen oxides, carbon monoxide and hydrocarbons - NOx, CO and HCs respectively) are reduced to near-zero levels – minimizing air quality concerns for sensitive environments such as educational facilities.
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.
Forward Looking Statements
This press release may contain 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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SOURCE Tecogen Inc.
Released July 20, 2016