Tecogen Secures 10-Unit InVerde e+ Order
WALTHAM, MA -- (Marketwired) -- 09/06/17 -- Tecogen® Inc. (NASDAQ: TGEN), a clean energy company providing ultra-efficient, clean, natural gas powered on-site power, heating and cooling equipment, is pleased to announce that it has secured an order for 10 InVerde e+ units that will be installed in new residential construction in Brooklyn, NY. With a rated peak generation capacity of over 1 MW, the system is a substantial investment for the buyer. Importantly, these InVerde e+ will be equipped with cloud-based real-time performance monitoring via Tecogen's CHPInsight software.
Abinand Rangesh, Tecogen's Director of Project Development, stated, "These ten units add to Tecogen's market-leading fleet of installed CHP units that it maintains in New York City. Having hundreds of units in such a compact area provides the kind of critical mass that a company like Tecogen needs in order to provide the highest level of customer service to both new and existing customers. Proper servicing ensures that buyers of our equipment are actually able to enjoy the levels of savings and reliability that they expect and demand."
"This new order further solidifies Tecogen's position as the vendor of choice in the CHP market. Over the last five years, our InVerde product line alone has clocked in well over two million hours of service," commented Tecogen's Co-CEO Benjamin Locke. "The order highlights the scalability of our exclusive microgrid technology and a growing awareness of the rock-solid reliability, substantial cost savings, and small environmental footprint that our products consistently deliver to our customers."
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 contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our present intent, beliefs or expectations, and are not guaranteed to occur and may not occur. Therefore, you should not rely on any of these forward-looking statements. Actual results may differ materially from those contained in or implied by our forward-looking statements as a result of various factors such as economic conditions, significant product and service competition and other factors described in Item 1A "Risk Factors" in our most recent Form 10-K. Forward-looking statements can be identified by words such as: "anticipate," "will," "believe," "plan," "should," "continue," and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding expected operation results such as revenue growth and earnings, strategies for business development and customer base growth.
Any forward-looking statement made in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Source: Tecogen, Inc.
Released September 6, 2017