Tecogen Sells Multiple Chillers to Longtime Customer

Dec 02, 2015, 09:00 ET from Tecogen Inc.

WALTHAM, Mass., Dec. 2, 2015 /PRNewswire/ -- Tecogen® Inc. (NASDAQ: TGEN) today announced the sale of multiple replacement TECOCHILL® chillers to returning customer Newport East. Located on New York City's Upper East Side, Newport East's 366-unit coop includes retail space as well as a heated rooftop swimming pool. Worth over half a million dollars, the new contract includes replacement of the aging units along with a renewed long-term service agreement for complete ongoing equipment maintenance.  

"The true power of the TECOCHILL technology is most evident in the summertime when electricity rates are at their highest – often incurring peak-usage charges – but when natural gas pricing is 'off peak' and especially affordable. A double bonus for customers," noted Robert Panora, Tecogen President and Chief Operating Officer.

Offering the only natural gas powered chiller on the market, TECOCHILL systems can cut a building's cooling costs in half by eliminating most of the electrical demand associated with providing traditional cooling. Newport East's consistent heating and cooling needs make the site well suited for Tecogen's equipment as waste heat from the engine and exhaust are recycled to provide domestic hot water for residents. First installed in 1989, the original Tecogen equipment has reliably supplied central air-conditioning to the 19-floor building for over 25 years.

Speaking about the project, Panora added, "Receiving replacement orders from longtime customers is a validation of Tecogen's equipment and servicing model and a testament to the compelling value proposition we offer the market."

About Tecogen Tecogen manufactures, installs, and maintains high efficiency, ultra-clean, combined heat and power products including natural gas engine-driven cogeneration, 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.

Tecogen Investor Relations & Media Contact Information:

Ariel F. Babcock, CFA

John N. Hatsopoulos

P: (781) 466-6413

P: (781) 622-1120

E: Ariel.Babcock@tecogen.com

E: John.Hatsopoulos@tecogen.com

 

SOURCE Tecogen Inc.



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