Tecogen Announces Additional Project Wins from National Mechanical Services
Total relationship now valued in excess of $1.5 million
WALTHAM, Mass., July 26, 2016 /PRNewswire/ -- Tecogen® Inc. (NASDAQ: TGEN), a leading provider of cost efficient, clean and reliable products for power production, heating and cooling which, through patented technology, nearly eliminate criteria pollutants and significantly reduce a customer's carbon footprint, today announced additional project wins from National Mechanical Services. The two new projects bring total relationship value with the expert contractor to in excess of $1.5 million.
For over 40 years National Mechanical Services, now part of The Metro Group, has been an industry-leading mechanical contractor that specializes in heating and cooling equipment replacement, 24/7 service, and heating system redesign for customers in the New York tristate area. The new projects include two reliable CM-75 kW units for a 454-unit multi-family residential building in Yonkers, NY and a state-of-the-art InVerde e+ 100 kW unit for a 14-story student housing building near Central Park in New York City, NY. Both projects include Tecogen's factory engineered load modules as well as various engineered accessories, customized to meet the contractor's exact specifications and speed installation.
"National Mechanical has been a solid partner for Tecogen. Their experienced project managers understand heating and cooling systems and the benefit that combined heat and power can bring to a building; both in terms of savings for the customer as well as additional services like electricity and emergency backup power not provided by a traditional boiler solution. We look forward to building on our strong working relationship now that National Mechanical is part of The Metro Group," said Benjamin Locke, Tecogen's Co-Chief Executive Officer.
Tecogen's efficient combined heat and power ("CHP" or "cogeneration") units run on affordable and reliable natural gas. The equipment generates electricity from the gas-fueled engine and then recycles the free waste heat for use by the building's heating and cooling systems. Because waste heat is recovered from the electric power production process, the systems can achieve fuel energy utilization upwards of 90% with minimal losses – a level of efficiency that directly translates into savings for the customer.
In this way, buildings fitted with Tecogen's cutting-edge clean energy products not only enjoy significant and ongoing reductions in their utility bills, but also cut their building's carbon footprint in half.
About The Metro Group
The Metro Group Inc. is a water treatment and mechanicals sales, service and installation contractor. An industry leader for over 90 years, the company specializes in the multi- family residential, institutional and commercial market sectors. Comprised of "Best in Class" companies, like National Mechanical Services, The Metro Group provides services, repairs, installs, retro-fits, conversions, and equipment sales for thousands of large scale HVAC systems and water-based process systems. Additionally, the company is a leader in water-hygiene and water safety management. Operating throughout the Eastern Seaboard, Midwest, and through foreign distributors, The Metro Group has service contracts for thousands of buildings and performs over a hundred thousand Service visits per year.
Headquartered in Long Island City, NY, The Metro Group has a CDC Elite certified laboratory, its own chemical manufacturing plant where it manufactures its Trade Named products, as well as state and federal sanctioned licensing for the servicing of potable and HVAC water systems. The Metro Group operates the largest fleet of service vehicles for its markets sector in its target urban market places including over one hundred service vehicles aimed at the Metropolitan New York City market place.
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.
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SOURCE Tecogen Inc.
Released July 26, 2016