Tecogen Receives InVerde Order from Data Center in CT

Rhea-AI Summary

Tecogen Inc. (OTCQX:TGEN) has announced the sale of an InVerde unit to a cloud storage data center in Connecticut. The data center selected Tecogen's solution after evaluating various alternatives including fuel cells and microturbines, primarily due to its superior return on investment (ROI).

The decision was driven by the need to control operating expenses amid rising utility rates. CEO Abinand Rangesh highlighted this sale as validation of their product's value proposition for data centers, expressing confidence in future adoption by both existing and new facilities facing electrical capacity constraints and increasing energy costs.

Positive

• Secured new sale of InVerde unit to data center customer
• Product demonstrated superior ROI compared to competing solutions
• Expanding presence in growing data center market

Negative

• None.

BILLERICA, MA / ACCESS Newswire / March 17, 2025 / Tecogen Inc. (OTCQX:TGEN), a clean energy company providing ultra-efficient and clean on-site power, heating, and cooling equipment, is pleased to announce the sale of an InVerde unit to a cloud storage data center in CT. Electricity costs are a significant expense for a data center. Faced with increasing utility rates, this customer chose to take control of their operating expenses using on-site generation. After considering other solutions including fuel cells, and microturbines, the customer chose the InVerde because of its ROI.

"We are pleased that this data center chose our InVerde after comparing it against competing options." said Abinand Rangesh, Chief Executive Officer at Tecogen. "This sale is another proof point that our products offer tremendous value to data centers. We expect many more existing and new data centers to adopt our solutions to combat a lack of electrical capacity and soaring energy costs."

About Tecogen
Tecogen Inc. designs, manufactures, installs, and maintains high efficiency and ultra-clean cogeneration products including combined heat and power systems, air conditioning systems, and high-efficiency water heaters for residential, commercial, recreational, and industrial applications. The company's cost efficient, reliable, and environmentally friendly products for energy production nearly eliminate criteria pollutants and significantly reduce customers' carbon footprint. In business for over 35 years, Tecogen has shipped more than 3,200 units, supported by an established network of engineering, sales, and service personnel in key markets in North America. For more information, please visit www.tecogen.com or contact us for a free Site Assessment.

Forward Looking Statements

This press release contains "forward-looking statements" which may describe strategies, goals, outlooks or other non-historical matters, or projected revenues, income, returns or other financial measures, that may include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "likely" or "may" and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements.

In addition to the Risk Factors described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q under "Risk Factors," factors that could cause our actual results to differ materially from past and projected future results include the impact of renewable energy biases on demand for our products, the availability of incentives, rebates and tax benefits relating to our products, changes in the regulatory environment, competing technological developments, and the availability of financing to fund our operations and growth.

Tecogen Media & Investor Relations Contact Information:

Abinand Rangesh, CEO
P: (781) 466-6487
E: Abinand.rangesh@Tecogen.com

SOURCE: Tecogen, Inc.

View the original press release on ACCESS Newswire

FAQ

What is the significance of Tecogen's InVerde unit sale to the Connecticut data center?

The sale demonstrates TGEN's ability to compete against alternatives like fuel cells and microturbines, offering superior ROI for data centers facing high electricity costs.

How does the InVerde unit help address the data center's operational challenges?

It helps control operating expenses by providing efficient on-site power generation, addressing rising utility rates and electrical capacity constraints.

What competitive advantages led to the selection of Tecogen's InVerde for the CT data center?

The InVerde unit was chosen over fuel cells and microturbines due to its superior return on investment (ROI) for managing energy costs.

What market opportunities does this sale indicate for Tecogen (TGEN) in the data center sector?

It suggests potential growth opportunities as more data centers seek solutions for electrical capacity limitations and increasing energy costs.