Tecogen Selected to Provide Cogeneration for Eight Long Island Schools

WALTHAM, MA / ACCESSWIRE / September 26, 2019 / Tecogen Inc. (NASDAQ:TGEN), a clean energy company providing ultra-efficient, clean, natural gas driven on-site power, heating, and cooling equipment, is pleased to announce the award of a contract to supply 950 kW of Tecogen cogeneration systems to a prominent energy services company (ESCO) for eight schools in Long Island, New York. The order includes three 75 kW Tecopower cogeneration systems for three middle schools, and seven 100 kW Inverde e+ systems in five high schools. The Inverde e+ high school projects are capable of providing microgrid operation in the event of a grid outage, allowing the facilities to be designated as a place of refuge.

“We have worked with this ESCO on previous school districts with similar energy reduction goals,” noted Joseph E. Gehret, Director of Field Operations for Tecogen. “The analysis of these schools showed significant energy savings that allowed the ESCO to include cogeneration in their overall building efficiency measures with the districts. The close proximity of our Brooklyn service center with numerous factory trained technicians will maximize both uptime and savings for the ESCO and was a key decider in being chosen for this project.”

School systems and municipalities benefit from energy service companies due to their ability to commit to savings measures for long periods of time or bundle many energy conservation measures under one project management team. Typical energy measures such as efficient lighting and smarter energy controls can be significantly supplemented by implementing cogeneration technology to generate a portion of the school’s electric use and offset energy used for heating the building.

“Many energy services companies have clearly defined hurdle rates for deploying capital into energy contracts such as this one,” noted Benjamin Locke, Tecogen CEO. “Tecogen has a 35 year track record of maintaining our fleet through our 10 service centers. With energy services contracts typically lasting 15-20 years, longevity and reliability for the operation of the plant is essential. We are looking forward to working with this ESCO and the school districts to accomplish the expected energy savings over the duration of the contract.”

The project will receive incentives from the local utility. Once complete, the systems are expected to be maintained from Tecogen’s Brooklyn service center throughout the duration of the ESCO’s long-term contract.

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 provides 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
E: Benjamin.Locke@Tecogen.com

SOURCE: Tecogen, Inc.

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