WALTHAM, Mass., March 20, 2012 /PRNewswire/ -- Tecogen Inc. today announced that two Tecogen Tecochill DTx 400 ton chillers have been purchased for installation at the Connecticut River Plaza in the heart of Hartford, Connecticut. The presently empty, high-end office building is in the midst of a complete transformation of lobby areas and building systems to a commercial rental space. Historically, as with much of downtown Hartford, the heating and cooling for the building were provided by a district utility producing chilled water and steam. Tecogen's natural gas powered, engine driven chillers were selected to significantly lower operating costs by providing efficient and cost saving cooling and free hot water for the building. The savings will ensure that renters are offered highly competitive rates.
"Clearly, the building's cooling systems needed to be upgraded," said Brian Cullinane, vice president of the Clover Corporation, an East Hartford based energy consulting company involved in the project. "The expense of cooling a building of this size with the older chilled water district utility loop system would add significant operating costs to the site. Taking control of their energy expenditures, the owners decided to generate on-site cooling using Tecochill chillers. With the built-in engine heat recovery technology, the building also gains free hot water produced and captured from the Tecochill units' engines. The building is expected to save over $500,000 a year by producing its own cooling and hot water."
Originally, only electric chillers were considered in the plant design. However, this would have left the building owners facing the expense of peak demand charges. Choosing the Tecochill natural gas engine chillers for the base load (800-tons) of the 1200-ton plant gave CT River Plaza a hybrid plant with superior economics plus free domestic hot water.
"One of the greatest expenses that building owners need to cope with is their electric utility charges," added Mr. Cullinane. "Electric charges are particularly high during peak hours to discourage the use of electricity when the already strained electric grid is at its most vulnerable. By choosing to use Tecochill chillers that operate on clean, domestically abundant and inexpensive natural gas, over 430kW of demand are prevented from entering the grid with calculated savings of over $87,000 annually. In support of this measure to reduce strain on the electric grid, the state of Connecticut is investing $240,000 in this project through the Connecticut Electric Efficiency Partners Program."
In 2008 the Connecticut Electric Efficiency Partners Program was established to encourage the use of equipment and technologies that relieve strain on the electric grid. Part of this program is an incentive specifically geared towards the promotion of efficient natural gas driven chillers like the Tecogen units selected for the Connecticut River Plaza. CT sites meeting the state's requirements receive $300 per ton of cooling.
"We are finding that diversification of energy usage, particularly in large cities, is becoming of paramount importance," said Robert Panora, chief operations officer and president of Tecogen. "Cities are increasingly feeling the strain of electricity demands. Our products are taking pressure off the grid and passing the cost savings along to our customers."
Tecogen manufactures highly efficient, ultra-clean Combined Heat and Power (CHP) 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 2,100 units, supported by an established network of engineering, sales, and service personnel across the United States. For more information, please visit www.tecogen.com.
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. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes. 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.
SOURCE Tecogen Inc.