Tecogen to Supply Additional School Districts with Combined Heat Power Systems
WALTHAM, Mass., July 22, 2014 /PRNewswire/ -- Tecogen Inc. (NASDAQ: TGEN) today announced the sale of combined heat and power ("CHP") systems to a group of public schools in northern New Jersey, and Long Island, New York. The sales involved three contracts with a combined value at $1.97 million, and were made separately to two regional offices of a multi-national Energy Services Company ("ESCO"). The projects involved three high schools, one middle school, and one elementary school. Under the terms of the contracts, Tecogen will supply the CHP modules as well as engineering and installation services. All units are expected to be commissioned by the end of 2014.
These orders follow similar projects received from the same ESCO in 2012 and 2013. Those orders totaled $1.2 million, and involved public schools in the northeast, some of which were announced in a previous press release in October of 2013.
"These sales represent a key element of Tecogen's strategy to penetrate the public school market," said Robert Panora, President and COO of Tecogen. "Public facilities, especially schools systems, often subcontract their energy programs to large energy service companies that can address all of the schools in a particular district with a variety of technological measures, such as lighting, smart controls and, of course, CHP. By providing the ESCO with a readymade CHP solution, Tecogen is able to access the large school district market without direct public contracting. The ESCO's engineers review the energy data from each district and screen the best candidates for CHP systems. The process will often result in our systems being paired with other energy upgrades to maximize the benefits to these important public facilities."
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 industrial and commercial use. Tecogen has shipped more than 2,000 units, supported by an established network of engineering, sales, and service personnel across the United States. For more information, please visit www.tecogen.com.
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