WALTHAM, Mass., Dec. 3, 2013 /PRNewswire/ -- Tecogen Inc., a leading manufacturer of advanced modular Combined Heat and Power (CHP) systems, today announced that it has sold in separate transactions of restricted common stock an aggregate of $957,375. This includes 212,750 shares at $4.50 per share, a commission of $64,623 for a net raise of $892,752. The proceeds of the private placement will be used to strengthen the Tecogen balance sheet. These transactions, together with the transactions closed earlier in November, brings the gross proceeds from the private placement to $4,307,075.
Tecogen CHP systems offer facilities energy efficiency, carbon reduction, and the ability to meet today's most stringent air quality requirements by virtually eliminating criteria pollutants (contributors to smog) using a proprietary two-stage emission system. A combination of microgrid capabilities, interconnection certifications, black-start ability, and high part-load efficiencies makes Tecogen systems a particularly attractive way to produce cleaner, more efficient energy.
This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of the securities, nor shall there be any sale of the securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any state.
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 Investor Contact Information:
John N. Hatsopoulos
SOURCE Tecogen Inc.