Wed, 16 Oct 2019

Tecogen Sells Chiller to Large NYC Residential Building

ACCESSWIRE
10 Oct 2019, 23:02 GMT+10

WALTHAM, MA / ACCESSWIRE / October 10, 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 sale of a 400 ton Tecochill natural gas-fired chiller to a large residential building located in New York City. The unit will provide air conditioning for the building during the cooling months, and the waste heat will be recovered and used to generate domestic hot water for use throughout the building. The Tecochill system replaces an inefficient absorption chiller that required replacement.

'Many large residential buildings in New York that heat with steam during the winter months use steam-based absorption chillers for cooling in the summer months,' noted Jeff Glick, Vice President of East Coast Sales at Tecogen. 'The Tecochill system uses less than one-third (33%) of the energy used by typical steam-based absorption systems. Using steam power to drive the absorption process is cost prohibitive compared to the Tecochill natural gas-fired compressor chiller system because of the energy inefficiency of the steam driven process and absorption chilling.'

The energy efficiency of the Tecochill system, including the savings resulting from the production of domestic hot water from heat energy recovered by the Tecochill system, provides compelling economic savings for the building. The high efficiency of the Tecochill system significantly reduces greenhouse gas emissions relative to conventional air conditioning systems.

'Steam-based absorbers are quite common in New York City due to the ConEdison district steam network,' noted Benjamin Locke, Tecogen CEO. 'However, elevated utility prices for steam and electricity, as well as the potential penalties under local laws related to excessive greenhouse gas emissions, mean that many NYC buildings with absorption chillers are prime candidates for retrofit with a clean and energy efficient Tecochill system to take advantage of both significant operational savings and greenhouse gas reductions.'

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.



View source version on accesswire.com:
https://www.accesswire.com/562673/Tecogen-Sells-Chiller-to-Large-NYC-Residential-Building

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