WALTHAM, Mass., Aug. 4, 2016 /PRNewswire/ -- Tecogen® Inc. (NASDAQ: TGEN), a leading provider of cost efficient, clean and reliable products for power production, heating and cooling which, through patented technology, nearly eliminate criteria pollutants and significantly reduce a customer's carbon footprint, today announced the receipt of $2.7 million in new financing.
The funds came via exercise of 675,000 warrants with $4.00 exercise price issued on December 28, 2015 in conjunction with the establishment of the Ultra Emissions Technologies Ltd. ("ULTRATEK") joint venture. The remainder of the warrants expired unexercised as of July 28th, 2016.
Speaking about the newly received funds, Robert Panora, Tecogen President and COO noted, "The team here at Tecogen has been working hard to execute on our clean technology vision, we're pleased our strategic investors see the progress being made and opted to exercise the majority of their warrants. I consider it a meaningful vote of confidence."
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 20 years, Tecogen has shipped more than 2,300 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.
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SOURCE Tecogen Inc.