Tecogen Stock Price, News & Analysis

Tecogen Inc. (TGEN), a clean energy firm, announced an order for two 125 kW InVerde cogeneration systems for a Connecticut high school, aimed at reducing electricity costs and utilizing waste heat for heating needs. Connecticut's high electricity rates and anticipated increases make this technology beneficial. The systems qualify for a tax credit of up to 40% under the recently expanded Investment Tax Credit from the Inflation Reduction Act. CEO Benjamin Locke emphasized the combined benefits of cost savings and greenhouse gas reductions as compelling reasons for schools to adopt such energy-efficient systems.

Tecogen (TGEN) has announced an order for five Tecopower cogeneration units from a multi-billion dollar Energy Services Company. The units will be installed near Tecogen’s factory service centers, ensuring long-term service. Tecogen’s CEO highlighted this partnership as a vital step amid rising energy prices and supportive legislation from the Inflation Reduction Act, enhancing both economic and sustainability aspects. Tecogen boasts over 35 years in business with over 3,000 units shipped and 5 million aggregate run hours on their systems.

Tecogen Inc. (OTCQX: TGEN) has confirmed that the expanded tax credits under the Inflation Reduction Act of 2022 will benefit its combined heat and power (CHP) systems. These tax credits can reach up to 30% for projects starting construction before January 1, 2025, with additional incentives for meeting key requirements. The new direct pay option for tax-exempt entities, including schools and healthcare facilities, is expected to increase market interest in CHP systems. Tecogen’s products, including air-conditioning and refrigeration models, qualify for these credits, potentially enhancing demand.

Tecogen Inc. (OTCQX:TGEN) reported Q2 2022 revenue of $6.4 million, reflecting a 4.4% QoQ increase. However, it suffered a net loss of $856.2 thousand compared to a net profit of $399.6 thousand in Q2 2021. For H1 2022, revenue reached $13.9 million, up 13.5% YoY, but a net loss of $767 thousand was recorded versus a profit of $2.2 million in H1 2021. Operating expenses rose by 11.7% to $3.5 million. The company expects price increases and tax credits from the Inflation Reduction Act to boost future margins.

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.