Under the Symbol:
Tecogen Sells Three Tecochill Chillers to New Jersey Cannabis Cultivation Facility
Thursday, January 9, 2020 9:30 AM
WALTHAM, MA / ACCESSWIRE / January 9, 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 the sale of three (3) 200-ton Tecochill™ chillers to a cannabis cultivation facility located in New Jersey. The chillers will provide cooling for the grow rooms with the waste heat used for dehumidification. The units will be installed and operational by mid-2020 and will include a factory service maintenance contract. Tecogen's manufacturer's representative in New Jersey, D&B Engineering, was instrumental in securing the order. Additional chiller orders are expected as the facility continues to expand further.
"This facility is owned by a multinational cannabis cultivation company with several sites located in the US and Canada," said Stephen Lafaille, Director of Business Development at Tecogen. "Owners and operators understand the importance of lowering operating costs as the cannabis cultivation industry becomes increasingly competitive and consolidated. The Tecochill solution is often the most cost effective and reliable solutions for the substantial energy needs of indoor cultivation."
New Jersey currently allows the sale of cannabis for medicinal purposes and will vote on expansion to recreational use in 2020. In anticipation of this, many cannabis cultivation owners are designing new or expanded grow operations. Tecogen is working with engineers and greenhouse designers to include the Tecochill solution in future projects.
"We are excited for this first sale of Tecochill for cannabis cultivation in New Jersey," noted Benjamin Locke, Tecogen Chief Executive Officer. "This owner evaluated many options for heating and cooling the facility and ultimately selected Tecogen. As consolidation continues within the cannabis cultivation industry, our systems are becoming more recognized for their operational savings and environmental benefits, as well as our robust factory service program which offers rapid response and exceptional equipment uptime. We are fortunate to be working with D&B Engineering in New Jersey because of their longstanding reputation as New Jersey's leading supplier of eco-friendly HVAC products such as Tecochill."
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.