WALTHAM, Mass., May 23, 2018 (GLOBE NEWSWIRE) -- Tecogen Inc. (NASDAQ: TGEN ), a leading manufacturer of clean energy cogeneration products that, through patented technology, nearly eliminate criteria pollutants and significantly reduce a customer's carbon footprint, is pleased to announce that a major Massachusetts indoor growing operation has decided to purchase both Tecochill chillers and Inverde e+ cogeneration units for its high-tech greenhouse growing operation, as part of their first stage of development.
Stephen Lafaille, Tecogen’s Product Manager explained, “High-tech greenhouse operations are arguably the future of indoor growing because they will take advantage of the free sunlight provided by mother-nature but will provide a sealed and controlled environment. Tecogen’s entire product line is very well suited for indoor growing, as our chillers will provide low cost cooling and free hot water for dehumidification, needed in the summer, and our cogeneration units will provide both additional electricity for lighting and space heat required for greenhouse operations during the winter months, along with back-up power if ever needed.”
With greenhouse use on the rise for indoor growing, this is an important step for Tecogen as it expands into this market. Commenting on the sale, Tecogen’s CEO Benjamin Locke stated, “This is an important sale for the Company. Many experts feel that greenhouses are the future for indoor growing and our whole product line, both mechanical and electrical CHP systems, are perfectly suited to support the heating and cooling needs for indoor growers to be successful.”
As the customer enters additional phases of their development they have additional Tecochill chillers and Inverde e+ units in their plans. The chillers and cogeneration units for the first stage of development are expected to ship by the third quarter.
About Tecogen 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 E: Benjamin.Locke@Tecogen.com
John N. Hatsopoulos P: (781) 622-1120 E: John.Hatsopoulos@Tecogen.com
