WALTHAM, Mass., April 30, 2013 /PRNewswire/ -- Tecogen is proud to announce the sale of two Ilios High Efficiency Water Heaters to the Acela Energy Group, Inc. These units will provide domestic hot water and pool heating at a luxury hotel in the State of Hawaii under a Thermal Energy Purchase Agreement between the hotel and Acela Energy. With twice the efficiency of traditional boilers, this natural-gas-engine-driven heat pump offers an economic alternative.
"The Ilios High Efficiency Water Heater is a product we are excited about because it offers customers a chance to save on heating costs through efficiency while reducing their carbon footprint," said Richard Costello, President, Acela Energy Group and Consulting Engineer for Aloha Energy Group, LLC. "Reducing energy costs and improving the environment are compatible goals when you have the right technology. Ilios provides such a solution."
"Hawaii is an ideal location for the Ilios High Efficiency Water Heater given the region's high ambient temperatures and expensive fuel costs as well as increased focus on energy conservation and long-term sustainability," said Martin J. McDonough, Chief Operating Officer, Ilios Dynamics, a majority owned subsidiary of Tecogen. "Not only does this product save money, it has ultra-low emissions with near zero criteria pollutants."
The Ilios High Efficiency Water Heater, available in both natural gas and propane versions, is an excellent alternative to conventional water heating systems. Ideal for locations with a gas demand of at least 4000 therms/month, such as swimming pools, hotels, schools, colleges, hospitals, apartment buildings & recreation centers, the system provides a heating capacity of 500,000 Btu/hour. Ilios is designed to boost heating efficiency, save money, and reduce impact on the environment.
About Acela Energy Group Acela Energy Group identifies and evaluates energy efficiency projects, and helps secure financing and incentives for both energy efficiency and self-generation solutions. It tailors solutions to achieve enduring cost savings, improve operational environments, and enhance occupant comfort and productivity. For more information visit www.acelaenergy.com.
About Tecogen Tecogen manufactures, installs and maintains highly efficient, 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 an installed base of more than 2,200 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]
Acela Energy Group Contact Information: Richard J. Costello P: 508-530-3040 E: [email protected]