Tecogen Receives Orders for 12 Cogeneration Systems
Rhea-AI Summary
Tecogen (OTCQX:TGEN) has secured orders for twelve cogeneration systems for multiple buildings in the Northeast through their project developer relationships. The announcement comes amid rising power prices nationwide due to insufficient electrical capacity, with consumers facing year-on-year energy bill increases of 10% or more. CEO Abinand Rangesh highlighted cogeneration as an effective solution for reducing both energy expenses and greenhouse gas footprint.
Positive
- Secured orders for 12 new cogeneration systems in the Northeast
- Strategic timing with rising power prices and 10%+ year-on-year energy bill increases
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- None.
BILLERICA, MA / ACCESSWIRE / November 25, 2024 / Tecogen Inc. (OTCQX:TGEN), a clean energy company providing ultra-efficient and clean on-site power, heating and cooling equipment, is pleased to announce orders for twelve cogeneration systems for multiple buildings in the Northeast. These orders were generated through Tecogen's project developer relationships.
"Power prices are rising sharply nationwide because of insufficient electrical capacity. Consumers in many regions can expect year-on-year energy bill increases of
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.
About Tecogen
Tecogen Inc. designs, manufactures, sells, installs, and maintains high efficiency, ultra-clean, cogeneration products including combined heat and power, 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. Aggregate run-hours on Tecogen's cogeneration systems exceed 6 million hours. For more information, please visit www.tecogen.com or contact us for a free Site Assessment.
Tecogen, InVerde e+, Ilios, Tecochill, Tecofrost, Tecopack, Tecopower, and Ultera are registered trademarks of Tecogen Inc.
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 accesswire.com
FAQ
How many cogeneration systems did Tecogen (TGEN) order in November 2024?
What is the expected energy bill increase mentioned in Tecogen's (TGEN) November 2024 announcement?
Where will Tecogen (TGEN) install the new cogeneration systems ordered in November 2024?
