MGM Selects Tecogen Clean Energy
Six CM-75s to power new Springfield, MA development
WALTHAM, Mass., Feb. 28, 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 sale of six CM-75 combined heat and power (CHP) units to MGM Springfield, a $950 million resort casino under construction in Springfield, Massachusetts. The units will be installed by Harry Grodsky Company Inc., a full service mechanical contractor with substantial experience meeting the needs of casino resorts in the Northeast. The casino, which is scheduled to open in 2018, will be owned and operated by MGM Resorts International.
Speaking about the project, Jeffrey Grodsky, Executive Vice President of Harry Grodsky, noted, "Cogeneration is an excellent fit for casino resort applications as their consistent need for climate control and the property's typically high electric demand mean cogeneration can offer substantial savings."
Benjamin Locke, Tecogen Co-CEO, added, "Since casinos already tend to have multiple standby systems for standby power and backup redundancy, selecting our CM-75 made the most economic sense for this project; we estimate MGM will save between $300,000 - $400,000 annually as a result. Selecting CHP will substantially reduce the resort's energy-related carbon footprint. The units will also be fitted with our patented Ultera ultra-low emissions technology, allowing for super clean operation - on par with near-zero emissions from fuel cells - in compliance with the strictest air quality standards in the country."
The cogeneration plant at MGM Springfield is aligned with MGM Resorts International's broader sustainability and conservation goals, as outlined by the company's Green Advantage program. Over the past five years, MGM Resorts International has completed energy conservation efforts in resorts that have cumulatively saved 194M kWh of electricity and 239,000 MMBtu of natural gas, enough energy to offset the annual usage of 23,000 average U.S. homes.
About Harry Grodsky & Co., Inc.
Harry Grodsky & Co., Inc. is one of the largest privately held mechanical contracting, engineering, energy solution, and service organizations in the Northeast. Since 1918, we've built a reputation for dependable professionalism by consistently providing solutions that work. Our experienced staff and quality workforce can help to ensure that your next project is a success. To learn more please visit http://www.grodsky.com/site_hg/hg_home.html
MGM Resorts International (NYSE: MGM) develops, builds and operates unique destination resorts designed to provide a total resort experience, including first-class accommodations and dining, world-class entertainment, state-of-the-art meeting and convention facilities, and high-quality retail and gaming experiences.
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
P: (781) 466-6413
P: (781) 622-1120
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/mgm-selects-tecogen-clean-energy-300414014.html
SOURCE Tecogen Inc.
Released February 28, 2017