WALTHAM, Mass., Aug. 5, 2015 /PRNewswire/ -- Tecogen® Inc. (NASDAQ: TGEN) today announced it has sold in a single transaction of 1.25 million shares of common stock at $4.00 for a total raise of $5,000,000. The proceeds of the private placement will be used as working capital to support the continued expansion of direct sales and production.
"Tecogen continues to grow revenues and move closer to profitability. This capital will support our growth as we expand our sales and marketing team, accelerate commercialization of our Ultra emission retrofit systems, and bolster the capacity of installation services," said Robert Panora, President and COO of Tecogen.
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 building'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 Media Contact Information: David Garrison P: 781-466-6403 E: David.Garrison@Tecogen.com
Tecogen Investor Contact Information: John N. Hatsopoulos P: 781-622-1120 E: firstname.lastname@example.org
SOURCE Tecogen Inc.