WALTHAM, Mass., June 15, 2015 /PRNewswire/
-- Tecogen® Inc. (NASDAQ: TGEN) today announced it
has secured a two year $2 million
line of credit from its founder and Co-Chief Executive Officer,
John Hatsopoulos. The funds
will support the continued growth of the company, and support the
short term working capital needs of the company.
Any funds drawn will be used to fund general corporate and short
term working capital needs. John
Hatsopoulos commented that "with a strong backlog, I wanted
to personally assist Tecogen in its near-term growth."
Tecogen's current backlog in turnkey and product sales is
$12.4 million.
About Tecogen
Tecogen manufactures, installs, and
maintains high efficiency, ultra-clean combined heat and power
products including natural gas engine-driven cogeneration, 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 building's carbon footprint.
In business for over 20 years, Tecogen has shipped more than
2,000 units, supported by an established network of engineering,
sales, and service personnel across the
United States. For more information, please visit
www.tecogen.com.
Tecogen Media Contact Information:
David Garrison
P: 781-466-6403
E: David.Garrison@Tecogen.com
Tecogen Investor Contact Information:
John N. Hatsopoulos
P: 781-622-1120
E: jhatsopoulos@tecogen.com
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SOURCE Tecogen Inc.