Tecogen Stock Price, News & Analysis

Tecogen Inc. (OTCQX: TGEN) announced an order for two InVerde e+ cogeneration systems for a residential complex in New York City. This complex features two towers, each receiving an InVerde unit, enhancing heating and power while ensuring resilience against grid outages. The order entails engineered components, system controls, and a service contract from Tecogen’s Brooklyn service center. This marks Tecogen's third collaboration with the developer, showcasing confidence in their equipment and services.

Tecogen Inc. (OTCQX: TGEN) announced a significant order for its InVerde cogeneration system for a new residential building in Queens, New York, following previous orders from the same developer. As NYC electric rates have surged by 50% since 2021, Tecogen's systems present considerable savings opportunities. The company foresees a long-term maintenance contract upon project completion, and the buildings aim for reduced greenhouse gas emissions. With over 35 years of experience, Tecogen continues to serve multiple markets with its efficient energy solutions.

Tecogen Inc. (TGEN) is launching a new business unit focused on Controlled Environment Agriculture (CEA), tapping into a growing market projected to exceed $170 billion globally by 2025. CEA offers advantages like local produce, reduced water usage, and lower transportation costs. Tecogen's energy solutions aim to reduce utility expenses, typically 10-25% of revenue for CEA facilities, while also enhancing crop yield through CO2 supply, boosting growth rates by over 150%. The company aims to leverage its experience in equipment sales to expand its reach in this sector.

Tecogen Inc. (TGEN) is set to release its Q2 2022 financial results on August 11, 2022, at 11:00 AM ET. The earnings press release and supplemental earnings call slides will be available on their website. Tecogen's senior management will discuss the financial performance during a conference call accessible via telephone and webcast. Established for over 35 years, Tecogen specializes in high-efficiency, ultra-clean cogeneration products, significantly reducing carbon footprints. For more details, visit their Investor Relations page.

Tecogen (TGEN) announced the sale of a 400-ton Tecochill chiller to a new indoor cultivation facility in Arizona, utilizing inexpensive natural gas for cooling and free waste heat for dehumidification. With a 25% discount on gas delivery from Southwest Gas, operational costs are further reduced. CEO Benjamin Locke highlighted the growing market for chillers in indoor cultivation, emphasizing the importance of cost savings. Tecogen has over 35 years of experience and has shipped more than 3,000 units across North America.

Tecogen (OTCQX: TGEN) has secured an order for three 400 ton Tecochill chiller systems from a Connecticut municipality, aimed at replacing an old absorption chiller system. This installation is projected to reduce carbon emissions by over 1,100 tons annually and will provide cost-effective cooling, addressing high local electric rates. The $1,200 tons of chillers include one year of service, with potential for a long-term maintenance agreement, reflecting Tecogen's 20 years of service experience in the area.

Tecogen, Inc. (OTCQX:TGEN) reported Q1 2022 revenues of $7.4 million, a 22.8% increase from Q1 2021. However, net income fell to $89 thousand from $1.8 million due to previous CARES Act support. Earnings per share (EPS) were $0.00 compared to $0.07 in 2021. Product revenue surged 85.6% to $3.9 million, while services revenue declined 11.1% to $2.9 million. Gross profit slightly improved to $3.1 million but gross margin decreased to 41.6%. Operating expenses decreased by 2.6% to $3.01 million.

Tecogen (OTCQX: TGEN) will announce its Q1 2022 financial results on May 12, 2022. The earnings press release and supplementary materials will be accessible on their website. A conference call will follow at 11:00 AM ET, where senior management will discuss the financial performance. Tecogen specializes in high-efficiency, ultra-clean cogeneration products, with over 3,000 units shipped and 5 million hours of operational runtime on their systems. For live access, dial (877) 407-7186 (US) or register for the webcast on their website.

Tecogen Inc. (OTCQX:TGEN) reported a net income of $3.7 million for FY 2021, a significant recovery from a $6.2 million loss in 2020. Q4 2021 net income was $63,000, compared to a loss of $4.1 million in Q4 2020. The company achieved a gross margin of 47.5% for FY 2021, up from 38.3% in 2020. Revenues for FY 2021 were $24.4 million, a decline from $28.3 million in 2020. Product revenue in Q4 2021 increased by 92% year-over-year, although overall services revenue fell by 6.2%. Operating expenses decreased by 23.7% for the year, attributed to prior impairments and cost controls.