Tecogen Receives 250 kW Microgrid System Order for Connecticut High School
27 Septembre 2022 - 3:50PM
via NewMediaWire – Tecogen Inc. (OTCQX: TGEN), a clean energy
company providing ultra-efficient and clean on-site power, heating,
and cooling equipment, is pleased to announce an order for two 125
kilowatt InVerde microgrid enabled cogeneration systems to a high
school in Connecticut. The units will provide a significant
reduction in the electricity costs for the school, with the free
waste heat used to reduce the operational cost of the school’s
existing heating system. The systems are anticipated to be
serviced from Tecogen’s Connecticut service center in East
Hartford, Connecticut.
Electric rates in Connecticut are among the
highest in the United States and are anticipated to further
increase. The combined heat and power technology incorporated in
Tecogen’s InVerde cogeneration systems mitigates high energy costs
and enables significant reductions in greenhouse gas (GHG)
emissions. These attributes are rewarded in the newly
expanded Investment Tax Credit (ITC) included in the Inflation
Reduction Act passed in August 2022 by making purchasers of
combined heat and power systems such as the InVerde eligible for
tax credits of up to 40% of the project cost.
“We are pleased that this school system in
Connecticut understands the cost savings and environmental benefits
of our products,” noted Benjamin Locke, Tecogen’s CEO. “The
combination of increasing electric rates, GHG reduction
requirements, and incentives provided through the expanded ITC
makes the timing for installing efficient energy savings measures
such as Tecogen distributed generation products more compelling
than ever. We look forward to the installation and commissioning of
this system to quickly provide cost savings and environmental
benefits to the school system.”
About Tecogen Tecogen Inc. designs,
manufactures, installs, and maintains high efficiency and
ultra-clean cogeneration products, including combined heat and
power systems, air conditioning systems, and high-efficiency water
heaters for residential, commercial, recreational, and industrial
applications. The company’s cost efficient, reliable, and
environmentally friendly products for energy production nearly
eliminate criteria pollutants and significantly reduce customers’
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 throughout North
America. Aggregate run hours on Tecogen’s InVerde
cogeneration systems exceeds 5 million hours. For more
information, please visit www.tecogen.com or
contact us for a free Site Assessment. Tecogen,
InVerde e+, Ilios, Tecochill, Tecofrost, Tecopack, Tecopower, and
Ultera are pending or registered trademarks of Tecogen Inc.
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that may include words such as "believe," "expect," "anticipate,"
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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. 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 the Risk Factors described in our
Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q
under “Risk Factors,” factors that could cause our actual results
to differ materially from past and projected future results include
the impact of the coronavirus pandemic on demand for our products
and services, the availability of incentives, rebates and tax
benefits relating to our products, changes in the regulatory
environment relating to our products, competing technological
developments, and the availability of financing to fund our
operations and growth.
Tecogen Media & Investor Relations Contact
Information: Benjamin Locke, CEOP: (781) 466-6402E:
Benjamin.Locke@Tecogen.com
Tecogen (NASDAQ:TGEN)
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