WALTHAM, MA / ACCESSWIRE / August 6, 2019 / 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 the turnkey sale of a 375 kW microgrid enabled cogeneration system for a nursing home located in Brooklyn, New York. The system will provide heat and power cheaper and more efficiently than the utility, as well as backup capability for critical facility loads. The project will receive state incentives for clean and efficient power generation, as well as utility incentives for mitigating demand on the power grid during times of peak electrical demand.
“New York City continues to have some of the highest electric rates in the country,” said Joseph E. Gehret, Director of Field Operations for Tecogen. “This facility will see a dramatic reduction in its cost for electric power as a result of its installation of Tecogen’s 90% efficient InVerde e+ cogeneration system, as well as meaningful reduction in its carbon footprint. The added resiliency that the InVerde microgrid technology provides was also a significant factor in the selection of Tecogen for the project. Nursing homes have critical needs in the event of grid outages, and our system will provide backup power to key circuits until grid power is restored.”
Many buildings in New York City are striving to cost-effectively reduce their greenhouse gas (GHG) profile in preparation for the anticipated establishment of carbon limits. As energy production from the InVerde unit is 2-3 times more efficient then grid-sourced energy in most states like New York, it is produced at less than half the carbon footprint. Since most of the nursing home’s electricity will be produced by the InVerde microgrid, the GHG reduction for this facility is substantial and provides a compelling example of cogeneration as a compliance strategy for future GHG standards.
“Large buildings in New York are facing important energy reduction goals as facility managers anticipate the possibility that the State will establish carbon limits that may otherwise curtail operations,” noted Benjamin Locke, Tecogen CEO. “The efficiency of our cogeneration technology allows large buildings to significantly reduce their carbon footprint, and potentially benefit from future carbon reduction incentives.”
The project includes a five year maintenance contract and is expected to be operational in early 2020.
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, Tecofrost, Tecopower, 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
SOURCE: Tecogen Inc.
View source version on accesswire.com: