Carrying on a Tradition of Meeting Energy Efficiency Needs
WALTHAM, Mass., Oct. 6, 2011 /PRNewswire/ -- Dr. George N. Hatsopoulos, founder of the legendary Thermo Electron Corporation, credits his many successes to his passion for problem solving and commitment to taking a long-term business view. His ability to reach out and learn from others helped him to identify long-range customer needs and so develop the best technologies and products for addressing those needs. He has always been eager to identify emerging problems that could become business opportunities.
For example, during the 1970s, in-depth research inspired him to structure Thermo Electron to pursue energy efficiency. Within seven years, the company's furnace division (the precursor to cogeneration) went from $5 million to $50 million in sales. In the years that followed, Thermo Electron grew to a Fortune 500 company of almost five billion dollars in annual revenue. That growth continued after his retirement in 1999 with Thermo merging into Thermo Fischer Scientific and other segments spun off into highly successful standalone businesses.
Since July 2001, Dr. Hatsopoulos has been the Chairman of American DG Energy Inc., and he serves as a Director of Tecogen, Inc., whose subsidiary, Ilios Dynamics, has announced today its first sale of an innovative heating appliance that requires half the fuel input and produces a small fraction of the harmful emissions of conventional systems. The new high efficiency technology developed by Ilios was brought about by Dr. Hatsopoulos suggesting to Tecogen management that mainstream technology in the heating sector was entrenched in technology born in an era of low energy costs and modest concern for efficiency. Dr. Hatsopoulos went on to suggest a more sophisticated design approach -- based on principles of thermodynamics on which he built much of his career -- that would fill an important need today, when energy efficiency is highly valued. The resulting Ilios product entering the commercial market today continues the legacy of Dr. Hatsopoulos's foresight in discerning and developing new technologies to meet society's needs.
According to Dr. Hatsopoulos, "Dealing with new things, new problems, is a way to energize a company. There needs to be a diversity of opinions, ideas, and a great deal of information continually flowing throughout an organization. You build businesses by creating teams of people dedicated to specific common goals within a learning environment. You develop people by having them ask questions and share responsibilities."
During his career, Dr. Hatsopoulos has applied his talents as inventor and master entrepreneur in a wide variety of businesses ranging from cogeneration to air pollution monitoring. He has also testified at numerous Senate and House hearings on national energy policy, capital formation, and industrial competitiveness, and has served on many national committees on energy conservation, and environmental protection. Dr Hatsopoulos served on the board of the Boston Federal Reserve Bank and concluded his tenure there as its chairperson for two years.
A fellow of the American Academy of Arts and Sciences, the National Academy of Engineering and other scientific and technical organizations, Dr. Hatsopoulos is the recipient of numerous honors and awards in engineering, science, and industry. He has authored three books and over 60 articles in professional journals. He served as a faculty member and senior lecturer at MIT, from which he earned masters and doctorate degrees.
Tecogen manufactures highly efficient, ultra-clean Combined Heat and Power products including natural gas engine-driven cogeneration and air conditioning systems for industrial and commercial use. Tecogen has an installed base of more than 2,000 units supported by an established network of engineering, sales and service personnel across the United States. For more information, please visit www.tecogen.com.
Melinda Furse, Tecogen Inc.
Pat Arcand, Arcand & Madison PR
Released October 6, 2011