West Side Condo Partners with Tecogen for Energy Supply Resiliency
WALTHAM, MA -- (Marketwired) -- 09/18/17 -- 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 a luxury condominium building located on Manhattan's west side has chosen to install two InVerde e+ combined heat and power (CHP) units. Constructed about a decade ago, the building was hit hard by flood waters due to Superstorm Sandy in 2012. As part of extensive repair work, the building will install the two InVerde e+ units to provide a resilient power supply to protect against future floods and power outages. Additionally, thanks to their efficiency, the units will enable the building and its residents to enjoy significant savings on their monthly energy bills.
Joseph E Gehret, Tecogen's Director of Field Operations, stated, "It is hard to overstate the importance for a large apartment building to be able to keep the elevators in operation, the water running, key areas lit, and sump pumps working during an outage. It's about both comfort and safety. But it's also about value. This installation will enable the building to generate substantial energy-related savings, resulting in a quick return of the capital cost and a positive return on the investment for years to come."
Tecogen's Co-CEO Benjamin Locke, commented, "We are excited about this purchase. Not only does it exhibit that Tecogen's advanced CHP technology is a significant money saver for customers, but also that its patented black-start and microgrid technology are able to deliver peace-of-mind in a period of growing unease about grid reliability due to aging infrastructure and potential adverse impacts of climate change."
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 forwardlooking 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 18, 2017