Welcome to our dedicated page for Tecogen news (Ticker: TGEN), a resource for investors and traders seeking the latest updates and insights on Tecogen stock.
Tecogen Inc. (NYSE American:TGEN) is a Delaware-incorporated company that designs, manufactures, sells, installs, and maintains high-efficiency, ultra-clean cogeneration and cooling products. This news page aggregates coverage of Tecogen’s ongoing business developments, financial results, capital markets activity, and strategic focus areas such as natural gas engine-driven combined heat and power, air conditioning systems, high-efficiency water heaters, and applications in AI and other data centers.
Recent Tecogen news releases, referenced in Form 8-K filings, provide detailed quarterly financial results, including segment performance for Products, Services, and Energy Production. These updates discuss revenue trends, gross margins, operating expenses, and non-GAAP measures such as Adjusted EBITDA. They also describe factors affecting each segment, such as increased chiller and cogeneration sales, changes in service margins, and contract expirations at energy production sites.
Investors can follow announcements about Tecogen’s data center strategy, including letters of intent with potential data center customers, interest from data center developers, and the use of Tecogen’s natural gas and hybrid-drive chillers and hybrid drive power packages for AI data center cooling and power management. Company communications also highlight participation in investor conferences, underwritten public offerings of common stock, and corporate governance updates such as executive appointments and compensation decisions.
This page is useful for tracking Tecogen’s earnings releases, conference call schedules, capital raises under its registration statements, and Regulation FD disclosures about investor presentations and FAQs posted on its website and social media channels. For users monitoring TGEN stock, the news feed offers a consolidated view of how Tecogen reports on its clean energy products, distributed power generation activities, and evolving role in data center and AI-related cooling markets.
Tecogen Inc. (OTCQX:TGEN) announced the sale of a 200-ton Tecochill chiller to an assisted living facility in southwestern Connecticut, aimed at providing seasonal cooling and utilizing waste heat for hot water. This system enhances energy efficiency, reduces reliance on backup generators during grid outages, and lowers operational costs amidst rising electric rates. Maintenance services will be provided by Tecogen. The move highlights the growing demand for energy-efficient solutions in critical care facilities.
Tecogen Inc. (OTCQX:TGEN) reported a net income of $0.4 million for Q2 2021, marking a significant turnaround from a net loss of $0.7 million in Q2 2020. For H1 2021, net income reached $2.2 million, a $4.1 million improvement year-over-year. Revenue for Q2 2021 was $6.1 million, down 17.3% from Q2 2020, driven by a 35.4% decline in product sales. Gross margin increased to 47.5% for H1 2021. Operating expenses were reduced by 7% in Q2. The company also benefitted from CARES Act payroll support and reported an increased backlog of $10.4 million.
Tecogen (OTCQX: TGEN) has announced an order for two InVerde e+ cogeneration systems for a large residential building in Manhattan. This energy-efficient system will provide power year-round, significantly reducing the building's carbon footprint. With New York City's high electric rates, Tecogen aims to deliver substantial cost savings and compliance with GHG reduction goals. The InVerde units will also ensure power supply during outages, addressing resilience concerns. Tecogen has supplied over 3,000 units, achieving over 5 million operating hours.
Tecogen Inc. (OTCQX: TGEN) announced an order for four Tecochill systems, totaling 900 tons, to replace an outdated chiller plant at a New York City hospital. This upgrade enhances the hospital's heating, cooling, and emissions controls, aimed for operational status by summer 2022. The company has been providing reliable energy savings for over 20 years. The new system will help the facility achieve its Environmental, Social, and Governance (ESG) goals while significantly reducing energy costs and greenhouse gas emissions.
Tecogen Inc. (TGEN) announced an order for six 125 kW InVerde cogeneration units for a medical center in New Jersey. This system aims to optimize energy savings and reduce the center's carbon footprint. The installation will be supported by Tecogen's New Jersey service center and facilitated by D&B Building Solutions, an experienced HVAC product supplier. Tecogen emphasizes the growing demand for its cogeneration systems in the healthcare sector, with a focus on sustainability and cost savings. The company has over 35 years in the market, having shipped more than 3,000 units.
Tecogen (TGEN), a clean energy company, has secured 25 long-term maintenance contracts for 31 InVerde e+ cogeneration systems in a Toronto residential complex. The contracts, spanning 20 years, will ensure consistent servicing from Tecogen’s Ontario center, which was established in March 2020. The InVerde systems will deliver electricity and hot water, with an expected uptime of over 93%, enhancing savings for clients and generating service revenue for Tecogen. This marks a significant expansion in Tecogen’s operational footprint in Canada.
Tecogen (OTCQX: TGEN) will announce its Q2 2021 financial results on August 12, 2021. The earnings press release and conference call information will be available on the company’s website. The management team will hold a conference call at 11:00 AM ET to discuss the results, which can be accessed via phone or a live webcast. Tecogen specializes in high-efficiency cogeneration products that significantly reduce carbon footprints. The company boasts over 35 years in business and has shipped more than 3,000 units across the U.S.
Tecogen (OTCQX: TGEN) announced an order for two 300-ton Tecochill chillers for a cannabis cultivation facility in Massachusetts, increasing the total installed capacity to 10,850 tons. The chillers will be serviced from Tecogen’s Waltham headquarters. The CEO stated that these units will achieve over 99% uptime, enhancing operational efficiency and service revenues when utilized. Tecogen's long history in the Controlled Environment Agriculture market highlights the reliability and performance of their products, crucial for maintaining optimal growth conditions in indoor cultivation.
Tecogen (OTCQX: TGEN) has filed a provisional patent for its innovative "High Efficiency Hybrid Engine-Driven Variable Frequency Drive". This system integrates multiple power sources, enhancing efficiency for applications like chiller plants. It targets the expansive air-cooled chiller market and aims to provide energy savings while supporting grid stability. The hybrid drive allows for renewable energy usage during outages, promoting cost-effective and eco-friendly operations as the industry shifts towards greener energy solutions.
Tecogen Inc. (OTCQX: TGEN) has appointed Dr. Abinand Rangesh as its new Chief Financial Officer, effective immediately. Dr. Rangesh, who has been with the company since 2016, previously served as Vice President and Director of Corporate Strategy. His background includes experience in startups within the green energy and software sectors. Dr. Rangesh holds a Ph.D. and undergraduate degrees in engineering from the University of Cambridge. The CEO commended his insights and communication skills, emphasizing his potential impact on the company’s strategy and investor relations.