Tecogen Stock Price, News & Analysis

Tecogen Inc. (OTCQX: TGEN) has announced the release date for its Q1 2023 financial results, scheduled for May 11, 2023. The results will be accessible on the company's website in the Investor Relations section. Following the release, a conference call led by Tecogen's senior management will take place at 9:30 AM Eastern Time to discuss the financial performance. Investors can participate via telephone or webcast, with recording options available post-call for playback. Tecogen has a history of over 35 years in the energy sector, specializing in high-efficiency cogeneration products that significantly reduce environmental impact.

Tecogen (OTCQX: TGEN) announced a new order for three DTX Tecochill chillers, providing 1200 tons of cooling for indoor agriculture in Georgia. This order comes from a repeat customer in the leafy greens sector. The chillers are expected to be delivered in 2023 and will be maintained under a long-term service agreement from Tecogen's Florida service center. The installation qualifies for a 40% Investment Tax Credit, aiding the customer's investment in sustainable solutions. Tecogen emphasizes that its chillers support optimal plant growth while lowering carbon footprints and energy usage.

Tecogen (OTCQX: TGEN) announced its acquisition of service contracts for 202 cogeneration systems from Aegis Energy Services, a Dalkia subsidiary. This strategic move aims to boost Tecogen's service business revenue and create a long-term recurring cash flow, with expected additional contracts later this year. Tecogen will share revenues from these contracts with Dalkia over the next seven years. Both companies aim to enhance energy efficiency and carbon reduction for their customers, leveraging Tecogen's established service centers in the Northeast U.S.

Tecogen (OTCQX:TGEN) reported revenue of $25.0 million for FY 2022, reflecting a 2.5% increase from FY 2021. However, the company faced a net loss of $2.4 million for the year, compared to a net income of $3.7 million in 2021, driven by lower gross profit and increased operating expenses. The gross margin fell to 44.3% from 47.5% in 2021. For Q4 2022, revenue declined to $4.5 million, a 36.9% decrease year-over-year. Operating expenses rose by 13.7%, influencing an operating loss of $1.4 million for the quarter. Despite these challenges, the company launched a new hybrid air-cooled chiller product at a major trade show.

Tecogen Inc. (OTCQX: TGEN) will announce its FY 2022 financial results on March 16, 2023. The earnings press release and supplemental slides will be accessible on their website under "Investor Relations." A conference call, featuring senior management, will occur at 11:00 AM ET the same day to discuss the financial performance and strategy for FY 2023. Participants can join via telephone or webcast. The call will be recorded for playback afterwards. Tecogen specializes in high-efficiency cogeneration products, having shipped over 3,150 units and accumulated more than 5 million aggregate run hours on its systems over 35 years.

Tecogen Inc. (OTCQX:TGEN) has announced the appointment of Dr. Abinand Rangesh as CEO, succeeding Benjamin Locke. Dr. Rangesh, previously CFO and a board member, has been with the company since 2016, contributing to various divisions including sales and business development. He holds a Ph.D. from the University of Cambridge and has experience in engineering and finance. Dr. John Hatsopoulos, Lead Director, expressed confidence in Dr. Rangesh's ability to enhance company value for shareholders. Tecogen specializes in clean energy solutions, having delivered over 3,150 units in 35 years of operation.