Tecogen Stock Price, News & Analysis

Tecogen Inc. (TGEN) announced the sale of two InVerde e+ cogeneration systems to a residential building in Brooklyn, NY, providing 250 kW of onsite power. The systems will significantly reduce GHG emissions by 100 to 170 metric tons of CO2 annually, aiding compliance with New York Local Law 97. Tecogen's compact systems are ideal for space-limited areas, enhancing operational efficiency and encouraging repeat business with engineering partners. The company has over 35 years in the industry, having shipped more than 3,000 units with over 5 million aggregate run hours.

Tecogen Inc. (OTCQX: TGEN) announced a letter to shareholders on May 13, 2021, outlining its growth strategies aimed at achieving profitable operations this year. Key initiatives include enhancing the network of manufacturers' representatives, launching maintenance services for cogeneration units in Ontario, expanding the market for Tecofrost® refrigeration products, introducing Tecopack™ cogeneration systems, developing Tecochill® chillers, and advancing Ultera® emissions reduction technology. Investors are encouraged to review the detailed letter on Tecogen's website.

Tecogen (TGEN) reported a net income of $1.8 million for Q1 2021, a significant turnaround from a net loss of $1.2 million in 2020, largely due to the forgiveness of a Paycheck Protection Program loan.

Revenues declined by 23.9% year-over-year to $6.1 million, attributed to decreased product sales and service revenues. Despite this, gross profits improved, reaching $3.0 million and a 48.7% margin. Operating expenses decreased by 21% to $3.1 million. Adjusted EBITDA stood at $20,000, contrasting with a negative $817,000 in Q1 2020. The company anticipates a rebound in revenues as COVID-19 restrictions ease.

Tecogen Inc. (OTCQX: TGEN) announced the sale of a 200-ton Tecochill® chiller to a hospital in central Connecticut, expected to be operational for the 2021 cooling season. The installation aims to provide significant utility cost savings. Tecogen will offer long-term maintenance services for the chiller, facilitated by Clover Corporation, a long-time representative in Connecticut. CEO Benjamin Locke highlighted plans to expand the network of manufacturers' representatives across North America to leverage opportunities in gas cooling amidst rising electric costs.

Tecogen Inc. (OCTQX: TGEN) is set to release its financial results for Q1 2021 on May 13, 2021. A conference call featuring senior management will also be held at 11:00 AM ET to discuss the financial performance. The relevant materials will be available on their website in the Investor Relations section. Tecogen, known for its high-efficiency, environmentally friendly cogeneration products, has been operating for over 35 years and has shipped more than 3,000 units across the U.S.

Tecogen (OTCQX: TGEN) announced the sale of two 75 kW cogeneration systems for an extended care facility in Queens, New York. These units will help reduce electricity costs and utilize waste heat for domestic hot water. The installation will be handled by an experienced contractor, ensuring efficient deployment. Key executives highlighted that such facilities are ideal for cogeneration due to their constant hot water needs. With rising electric rates in New York, the investment is expected to secure long-term savings for the facility owner.

Tecogen (OTCQX: TGEN) has announced the sale of an InVerde e+ cogeneration system to a new residential building in Brooklyn, NY, which will supply 125 kW of onsite power. This system's cogenerated heat will provide domestic hot water for residents. The installation aims to help the building achieve its LEED Silver sustainability rating and significantly reduce greenhouse gas emissions by over 170 metric tons per year, thus avoiding fines under New York City’s Local Law 97. The project highlights Tecogen's commitment to economic and environmental benefits.

Tecogen Inc. (OTCQX: TGEN) has launched the Tecopack microgrid system, designed for combined heat and power (CHP) applications. This innovative system offers pre-packaged, drop-in solutions with variable speed operation, Ultera emissions control, and Smart Inverter technology, aimed at improving energy efficiency. The system has been installed in various facilities, including nursing homes and sports complexes. Tecogen emphasizes the system's benefits in reducing energy costs and enhancing resilience against grid disruptions, with immediate availability for purchase or lease.

Tecogen (OTCQX: TGEN) announced the sale of three 400-ton Tecochill chillers to an indoor cannabis cultivation facility in Massachusetts, bringing their total sales to 29 chillers in the state. The chillers provide an integrated modular solution that optimizes grow space and simplifies installation. This development is part of an increasing trend in the cannabis industry, where operators seek to reduce operational costs through efficient gas cooling systems. Tecochill systems offer lower operating costs and enhanced resilience against power outages compared to electric chillers.