Tecogen and Ainsworth Announce Teaming Agreement
WALTHAM, MA / ACCESSWIRE / May 19, 2020 / 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 Ainsworth, a Toronto based company providing high quality technical trade services has chosen Tecogen as its preferred CHP partner. The Teaming Agreement executed with Ainsworth provides a framework for Tecogen and Ainsworth to pursue projects that are a mutual fit for Tecogen's equipment and Ainsworth's installation services.
"We are excited Ainsworth recognizes Tecogen as a leader in CHP and we are excited to help them offer our solutions to their diverse customer base," commented Benjamin Locke, Tecogen CEO. "Ainsworth's capabilities in the areas of design, estimation, and installation of HVAC systems in Canada are a perfect fit for Tecogen as we expand our sales into Canada. Our natural gas cogeneration and chiller systems are an excellent fit for many facilities seeking to reduce operating costs and improve resiliency to the electric grid, and Ainsworth has the expertise and resources to provide efficient project and installation services in Canada. This Teaming Agreement allows both companies to combine their respective expertise to design, estimate, build, install, and maintain these systems throughout Canada."
Tecogen recently established its 11th service center in Toronto, Canada, and is in the process of completing a 3.4 MW cogeneration project at a major housing facility in the city. Ainsworth is also based in Toronto and operates offices in all major Canadian cities. The agreement creates a complete turnkey team to provide customers with a high level of technical support, engineering, construction, installation, and maintenance services.
"Tecogen has a unique product offering that creates a compelling opportunity in Canada," stated Steven Horwood, Vice President Business Development at Ainsworth. "At Ainsworth we believe in the importance of demonstrating unmatched technical solutions and broader perspectives to customers that address their energy, sustainability and operational resilience. By providing all aspects of project development and implementation, from initial design through construction and operations, this Teaming Agreement will provide customers with budget, schedule and performance certainty. We are excited to start working more closely with the Tecogen team."
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 provides 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 e+, Ilios, Tecochill, and Ultera are registered or pending trademarks of Tecogen Inc.
Ainsworth is one of Canada's leading integrated multi-trade companies providing high-quality technical trades services, including HVAC, mechanical, electrical, data cabling, and building and industrial automation for institutional, commercial, and industrial clients across the country. As an integrated multi-trade company, Ainsworth offers end-to-end services and solutions for all asset maintenance and refurbishment requirements of our customers.
Ainsworth is a wholly owned subsidiary of GDI Integrated Facility Services, a publicly traded company on the Toronto Stock Exchange (TSX:GDI) and a leader and innovator in the industry. GDI is the fifth-largest facility services business in North America with more than 26,000 employees, servicing over 1 billion square feet, and with operations across Canada and the United States.
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
SOURCE: Tecogen, Inc.
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Released May 19, 2020