Tecogen Contracted to Perform Feasibility and Design Studies for Over 1 MW in New Projects Representing $3.5 - $4.5 Million in Potential Revenue
WALTHAM, Mass., Jan. 4, 2017 /PRNewswire/ -- Tecogen® Inc. (NASDAQ: TGEN), provider of clean energy products which, through patented technology, nearly eliminate criteria pollutants and significantly reduce a customer's carbon footprint, today announced the company has been contracted to evaluate 10 sites with in excess of 1 MW of potential for combined heat and power (CHP).
Benjamin Locke, Co-CEO of Tecogen noted, "Over the past 12 months the sales team has been laser focused on developing project partners that could bring regular business to Tecogen. These contracted feasibility and design studies could generate purchase orders of $3.5 - $4.5 million in new sales from repeat customers, demonstrating the value of our relationship building initiatives."
Ranging from education, to recreation, to multi-unit residential, the feasibility studies will evaluate the appropriateness of cogeneration equipment for a variety of sites and use cases.
"In general, a good fit for cogeneration is a site with a high and consistent heating load. You then size the CHP system for this thermal demand to generate maximum savings potential for the customer. Our work will evaluate the sites for suitability and recommend appropriately sized equipment and system designs. In the past, the majority of sites referred to us for feasibility study have resulted in eventual orders and we would expect a similar result with this work," Mr. Locke added.
Tecogen has shipped over 185 megawatts of ultra-efficient natural gas fueled equipment including combined heat and power, chillers, and heat pump capacity. The company's reliable machinery has generated over 7 billion kilowatt hours of energy - powering residential, commercial, recreational and industrial facilities worldwide.
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 30 years, Tecogen has shipped more than 2,500 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
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SOURCE Tecogen Inc.
Released January 4, 2017