Tecogen Sells Additional Chillers to Marijuana Cultivation Facilities

Companies Mentioned:

Primary Exchange: NASDAQ
Under the Symbol: TGEN

$2.65

($0.0100)

-0.3759


Tecogen Sells Additional Chillers to Marijuana Cultivation Facilities

Tuesday, July 16, 2019 9:00 AM

WALTHAM, MA / ACCESSWIRE / July 16, 2019 / 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 Tecochill orders from two different marijuana cultivation facilities located in Massachusetts. The first facility will install two 200-ton Tecochill systems, and the second is installing two 300-ton Tecochill systems. Both facilities will utilize the chilled water for cooling the facility, while the waste heat from the chillers is to be used for dehumidification. The units will be installed and operational by the end of 2019 and include factory service contracts for each site.

“Operating costs become crucial for the long-term viability of cultivation facilities such as these,” said Stephen Lafaille, Director of Business Development at Tecogen. “The Tecochill solution is an important factor in reducing energy costs associated with maintaining precise temperature and humidity for optimal growth. Our chillers provide a unique set of benefits including the efficiency of combined heat and power wrapped into an industrial-grade chiller solution which is already a necessity, so the chillers satisfy multiple needs while significantly reducing operating costs.”

These orders bring the total number of Massachusetts marijuana cultivation facilities using the Tecochill product to 16, with further orders expected.

“We are pleased that the indoor cultivation industry is recognizing the tremendous energy savings of natural gas cooling with Tecochill,” noted Benjamin Locke, Tecogen’s CEO. “As other states anticipate recreational marijuana sales, we are working with owners, operators and consulting engineers to keep energy and capital costs down in order to succeed in an increasingly competitive and expanding market.”

About Tecogen

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 e+, Ilios, Tecochill, Tecofrost, Tecopower, 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
E: [email protected]

SOURCE: Tecogen, Inc.


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