WALTHAM, Mass., March 23, 2016 /PRNewswire/
-- Tecogen® Inc. (NASDAQ: TGEN) is pleased to
announce the company has executed an agreement with a gas company
("Gas Partner") to bring efficient ultra-clean gas engine-driven
heating and cooling systems to their customers. The exclusive
partnership includes a commitment to joint marketing, dedicated
local sales resources from the Gas Partner, qualified lead
generation and specific project development hurdles.
Speaking about the partnership, Benjamin
Locke, Tecogen co-CEO noted, "Tecogen's ultra-clean
gas-powered solutions will help displace electricity demand from
large facilities and developments in the area, a good thing for any
region where electricity is still predominantly produced using oil
or coal."
The initial partnership agreement focuses on Ilios®
water heaters and TECOCHILL® chillers. Mr. Locke added,
"We have been vocal about our growth initiatives and this
partnership is the first of what we hope will be many similarly
structured gas company selling agreements for other territories.
The announcement aligns with our stated intent to expand our
selling geography by carefully selecting appropriate regional
partners and first introducing our heat pumps and chillers to a
territory before bringing in cogeneration."
Speaking about the partnership synergies, Mr. Locke emphasized,
"Gas companies are natural partners for Tecogen as our equipment
offers significant value to gas company customers while ensuring a
steady demand of gas for the gas partner. Tecogen equipment can
also help gas companies grow their customer base by offering
customers a gas powered solution for their energy needs, reducing
their demand on the electric grid."
The leading gas engine-driven chiller on the market, a TECOCHILL
cuts costs by as much as 30-60% when compared to conventional
electric chillers and helps facilities avoid peak-demand electric
charges. As an added bonus, additional savings can be realized by
recovering waste heat from engines for heating needs like domestic
hot water or space heat. TECOCHILL customers can rest easy because
their chillers will continue running on minimal electric load from
emergency generators in case of electric blackout, all while being
fed by reliable gaseous fuel—a significant benefit when considering
the potential costly impact of equipment downtime in warm
climates.
Similarly, the Ilios® heat pump provides twice the efficiency of
a conventional boiler while delivering 400,000– 600,000 BTU/hour of
hot water. This hot water is ideal for space heating, precision
industrial applications, swimming pools and spas and is delivered
while producing near-zero emissions and cutting a facility's carbon
footprint in half. An Ilios unit can also be used as a dedicated
heat recovery chiller to provide simultaneous heating and cooling,
offsetting boiler usage by as much as 50% and peak shaving the
central chiller—creating a significant savings for the
facility. The Ilios line of water heaters meets the needs of
customers by providing a reliable and consistent supply of hot
water at a fraction of the price of conventional boiler
equipment.
Both Ilios water heaters and TECOCHILL chillers come fitted with
the cleanest exhaust after-treatment system on the market today,
Tecogen's patented state-of-the art Ultera™ technology. When
coupled with Ultera emissions control Tecogen's equipment operates
with near-zero emissions of harmful criteria pollutants (NOx and
CO), producing emissions on par with those of ultra-clean fuel
cells and central generation power plants.
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 customer's carbon footprint.
In business for over 20 years, Tecogen has shipped more than
2,300 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 follow us on Twitter, Facebook, and
LinkedIn.
Tecogen, InVerde, Ilios, Tecochill, Ultera, and e+,
are registered trademarks of Tecogen Inc.
Forward Looking Statements
This press release contains
forward-looking statements under the Private Securities Litigation
Reform Act of 1995 that involve a number of risks and
uncertainties. Important factors could cause actual results to
differ materially from those indicated by such forward-looking
statements, as disclosed on the Company's website and in Securities
and Exchange Commission filings. The statements in this press
release are made as of the date of this press release, even if
subsequently made available by the Company on its website or
otherwise. The Company does not assume any obligation to update the
forward-looking statements provided to reflect events that occur or
circumstances that exist after the date on which they were
made.
Tecogen Media & Investor Relations Contact
Information:
Ariel F. Babcock,
CFA
|
John N.
Hatsopoulos
|
P: (781) 466-6413
|
P: (781)
622-1120
|
E:
Ariel.Babcock@tecogen.com
|
E:
John.Hatsopoulos@tecogen.com
|
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SOURCE Tecogen Inc.