Tecogen Continues Strong Sales into Indoor Cannabis Industry
WALTHAM, Mass., Nov. 27, 2018 (GLOBE NEWSWIRE) -- Tecogen Inc. (NASDAQ: TGEN), a clean energy company providing ultra-efficient, clean, natural gas powered on-site power, heating and cooling equipment, is pleased to announce yet another Tecochill sale into the Massachusetts indoor cannabis growing market. Tecogen will deliver 2 Tecochill DTx 400-ton natural gas engine driven chillers to the facility to provide cooling for the grow rooms and hot water for dehumidification control. The units are expected to be commissioned and running in early 2019.
“This grow facility in Massachusetts needed a substantial amount of cooling capacity in order to meet its production goals,” stated Stephen Lafaille, Product Manager for Tecogen. “The Tecochill solution uses a natural gas engine to turn the refrigeration compressor to meet the strict cooling requirements of the facility, substantially reducing its electrical needs from the utility. This facility is also utilizing the waste heat recovery of the Tecochill system to provide heating and dehumidification, further increasing the efficiency and savings for the project. It’s this simultaneous production of cooling and engine heat recovery that categorizes it as a combined heat and power (CHP) system, thereby unlocking local utility incentives, as well as federal tax credits to supplement the operational cost savings inherent with CHP systems.”
The Tecochill product not only delivers substantial energy savings over electric cooling systems, but also accomplishes significant greenhouse gas (GHG) savings compared to traditional forms of heating and cooling similar facilities which typically use grid-powered electric chillers and boilers. The Tecochill units at this grow facility are expected to reduce GHG emissions by upwards of 1,000 tons of CO2/year. Tecogen systems are recognized annually by the EPA Combined Heat and Power Partnership for their overall reduction in carbon dioxide emissions.
“This project is our 12th grow facility in Massachusetts alone,” stated Benjamin Locke, CEO of Tecogen. “The energy savings and infrastructure simplification of using our Tecochill product is becoming standard practice when engineering cannabis or other high value indoor growing crops. The GHG benefits and overall air quality improvements using Tecogen’s Ultera emissions technology, coupled with our in-state manufacturing facility, make this a win-win for Massachusetts.”
The order is Tecogen's 16th into North America's rapidly emerging indoor cannabis industry, with additional Tecochill systems currently in design and construction planning. Tecogen’s nationwide service presence and cloud-based remote monitoring capabilities ensure rapid response to critical process cooling customers such as indoor agriculture facilities.
Tecogen Inc. designs, manufactures, sells, installs, and maintains high efficiency, ultra-clean, cogeneration products including natural gas engine-driven combined heat and power, 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 customer’s carbon footprint.
In business for over 35 years, Tecogen has shipped more than 3,000 units, supported by an established network of engineering, sales, and service personnel across the United States. For more information, please visit www.tecogen.com or contact us for a free Site Assessment.
Tecogen, InVerde e+, Ilios, Tecochill, and Ultera are registered or pending trademarks of Tecogen Inc.
Forward Looking Statements
This press release contains “forward-looking statements” which may describe strategies, goals, outlooks or other non-historical matters, or projected revenues, income, returns or other financial measures, that may include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," "target," "potential," "will," "should," "could," "likely," or "may" and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements.
In addition to those factors described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q under “Risk Factors”, among the factors that could cause actual results to differ materially from past and projected future results are the following: fluctuations in demand for our products and services, competing technological developments, issues relating to research and development, the availability of incentives, rebates, and tax benefits relating to our products and services, changes in the regulatory environment relating to our products and services, integration of acquired business operations, and the ability to obtain financing on favorable terms to fund existing operations and anticipated growth.
Tecogen Media & Investor Relations Contact Information:
Benjamin Locke, CEO
P: (781) 466-6402
Released November 27, 2018