Ilios High Efficiency Water Heater Signs an Exclusive Distribution Agreement for Costa Rica with Procoen
WALTHAM, Mass., June 12, 2014 /PRNewswire/ -- Ilios Dynamics, a majority owned subsidiary of Tecogen (NASDAQ: TGEN), today announced that it has signed an exclusive distribution agreement with Procoen, an energy services company based in Costa Rica.
Procoen will have exclusive distribution rights for the Ilios product line in Costa Rica. Using propane, which is a common heating fuel used in the country, calculations show that an Ilios unit will produce an average savings of $80,000 annually.
"With two to three times the efficiency of a conventional boiler, Ilios is perfect for reducing operating costs in the face of already expensive and rising fuel prices," said Oscar Soto, president of Procoen. "Furthermore, Costa Rica is looking to be the first carbon neutral country in the world so every effort to reduce fuel consumption is being made. Procoen represents innovative products that can make a significant impact on energy usage and have proven performance. We are glad to welcome Ilios into our product portfolio."
The Ilios High Efficiency Water Heater, available for both natural gas and propane, is an excellent alternative to conventional water heating systems. It is ideal for applications such as food processing plants, swimming pools, hotels, schools, colleges, hospitals, offices & apartment buildings.
About Ilios
Ilios Dynamics, a subsidiary of Tecogen Inc., was formed in April 2009 to develop and distribute a line of ultra high-efficiency heating products for commercial and industrial applications utilizing advanced thermodynamic principles. Products incorporate mechanical work to extract heat from the environment to supplement chemical energy available from natural gas. The result is a significant boost in efficiency and reduced carbon emissions relative to conventional heating systems. For more information please visit www.iliosdynamics.com.
About Procoen
Procoen was founded by mechanical engineer Oscar Soto Ruiz, following the initiative of the government of Costa Rica to become the first carbon neutral country. To meet the need for companies to reduce their energy costs and improve efficiency, Procoen markets innovative and cost effective products that demonstrably reduce energy consumption.
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 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.
FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Company's website and in Securities and Exchange Commission filings. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
Tecogen Media Contact Information:
Melinda M. Furse
Tecogen Inc.
P: 781-466-6444
E: [email protected]
Tecogen Investor Contact Information:
John N. Hatsopoulos
P: 781-622-1120
E: [email protected]
SOURCE Ilios Dynamics
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