Tecogen InVerde CHP Platform Reaches Operational Milestone
WALTHAM, Mass., June 06, 2018 (GLOBE NEWSWIRE) -- 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 its flagship InVerde cogeneration fleet has surpassed 3.5 million hours of operation since its introduction in 2008. Tecogen has more inverter-based natural gas engine cogeneration systems in operation than any other manufacturer in the US.
The InVerde cogeneration system, which was updated in 2016 to the InVerde e+ to include significant improvements, is the only cogeneration system that can provide power during a grid outage using exclusively licensed CERTS microgrid controls. This allows the InVerde to operate independently of the electric utility in case of grid outages and ensures that critical building electric loads such as elevators, pumps and lighting are maintained until grid power is restored.
Tecogen’s CEO Benjamin Locke stated, “This operating milestone is a tremendous testament to market acceptance and the durability of our InVerde fleet. No other cogeneration system has the longevity and proven performance of our InVerde and InVerde e+ systems. By surpassing 3.5 million run hours, the fleet has generated upwards of 350 GW/hrs of power for customers in residential buildings, hospitals, hotels, assisted living, and many other industries with large utility requirements. Our service infrastructure, with nine service centers across the US, ensures that all our cogeneration units, chillers, and heat pumps maintain the highest uptime and therefore the maximum savings for 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 35 years, Tecogen has shipped more than 3,000 units, supported by an established network of engineering, sales, and service personnel across the United States. For more information, please visit www.tecogen.com or contact us for a free Site Assessment.
Tecogen, InVerde, InVerde e+, Ilios, Tecochill, e+ and Ultera are registered or pending trademarks of Tecogen, Inc.
Forward Looking Statements
This press release contains “forward-looking statements” which may describe strategies, goals, outlooks or other non-historical matters, or projected revenues, income, returns or other financial measures, that may include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," "target," "potential," "will," "should," "could," "likely," or "may" and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements.
In addition to those factors described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q under “Risk Factors”, among the factors that could cause actual results to differ materially from past and projected future results are the following: fluctuations in demand for our products and services, competing technological developments, issues relating to research and development, the availability of incentives, rebates, and tax benefits relating to our products and services, changes in the regulatory environment relating to our products and services, integration of acquired business operations, and the ability to obtain financing on favorable terms to fund existing operations and anticipated growth.
Tecogen Media & Investor Relations Contact Information:
Benjamin Locke, CEO
P: (781) 466-6402
John N. Hatsopoulos
P: (781) 622-1120
Released June 6, 2018