WALTHAM, Mass., Nov. 16, 2016 /PRNewswire/ -- Tecogen®
Inc. (NASDAQ: TGEN), provider of clean energy products which,
through patented technology, nearly eliminate criteria pollutants
and significantly reduce a customer's carbon footprint, today
announced the sale of an efficient 300kW clean power InVerde e+
system to Fairview at Forest Hills, NY. The multi-family residential
condo-coop building is a 14-story, 464-unit, master-planned
community with abundant amenities including large pool, recreation
center, and modern on-site laundry facilities.
The Fairview's system is
expected to ship by year-end for installation in the first half of
2017 and is part of a broader package of comprehensive energy
upgrades undertaken by the building in collaboration with
integrated energy services company EN-POWER Group. Following a
thorough assessment of the Fairview's energy requirements and
expenditures, EN-POWER's founder and managing director,
Michael Scorrano, developed and
recommended a number of energy efficiency measures for the property
including an oil-to-gas conversion, upgraded lighting and HVAC
systems (several of these upgrades were already implemented and
recently detailed in a NYSERDA Case Study Video posted here).
Speaking about the project, Mr. Scorrano noted, "There are a lot
of things building managers can't control when it comes to their
building's cost structure, the one thing they can control is energy
efficiency. Cogeneration delivers significant savings for
residential buildings like the Fairview and was an excellent fit for this
case."
Tecogen's Co-CEO Benjamin
Locke added, "As was discussed on our earnings call
last week (replay and supporting documents available here), the
InVerde e+ continues to gain traction in the market with key
project partners. Differentiated features including the ability to
offer emergency back-up power in case of blackout and InVerde's
compelling savings profile driven by our best-in-class efficiency
make our equipment a natural choice for property managers. We
expect Fairview residents to enjoy
$150,000 – $200,000 in annual savings from selection of
Tecogen equipment, all while cutting their building's energy
related carbon footprint in half."
Because of the InVerde's patented and UL-certified inverter
technology, the units are eligible for fast-track permitting,
streamlining equipment installation. With their
state-of-the-art microprocessor controls the three units can be
integrated into the facility's building automation system to
optimize its utilization and financial benefit. Similarly, in case
of blackout, the imbedded CERTS microgrid control feature manages
the smooth and balanced transition to standby operation – ensuring
building occupants are never left in the dark and offering
essential emergency power. First launched in 2008, the
time-tested installed InVerde fleet has logged over 2 million hours
of run time, demonstrating proven reliability.
About EN-POWER Group
EN-POWER GROUP is an
integrated energy services company founded in 2003 by Michael Scorrano to assist large and small
energy users with effective energy management. After conducting a
thorough assessment of your energy requirements and expenditures,
we develop and implement a comprehensive management plan,
comprising such measures as energy supply, energy conservation, and
green initiatives. In addition to directly assisting end users,
many channel partners including professional services firms,
manufacturers, contractors, and managing agents look to the
EN-POWER GROUP for objective advice on energy related matters. We
specialize in consolidating all available financial incentives
including financing, rebates, and tax credits from various state
and federal agencies as well as utility companies. For more
information please visit www.en-powergroup.com.
About Tecogen
Tecogen® Inc. designs,
manufactures, sells, installs, and maintains high efficiency,
ultra-clean, cogeneration products including natural gas
engine-driven combined heat and power, air conditioning systems,
and high-efficiency water heaters for residential, commercial,
recreational and industrial use. The company is known for cost
efficient, environmentally friendly and reliable products for
energy production that, through patented technology, nearly
eliminate criteria pollutants and significantly reduce a customer's
carbon footprint.
In business for over 20 years, Tecogen has shipped more than
2,300 units, supported by an established network of engineering,
sales, and service personnel across the
United States. For more information, please visit
www.tecogen.com or contact us for a free Site Assessment.
Tecogen, InVerde, Ilios, Tecochill, Ultera, and e+,
are registered trademarks or trademark pending registration of
Tecogen Inc.
Forward Looking Statements
This press release may
contain forward-looking statements under the Private Securities
Litigation Reform Act of 1995 that involve a number of risks and
uncertainties. Important factors could cause actual results to
differ materially from those indicated by such forward-looking
statements, as disclosed on the Company's website and in Securities
and Exchange Commission filings. The statements in this press
release are made as of the date of this press release, even if
subsequently made available by the Company on its website or
otherwise. The Company does not assume any obligation to update the
forward-looking statements provided to reflect events that occur or
circumstances that exist after the date on which they were
made.
Tecogen Media & Investor Relations Contact
Information:
Ariel F. Babcock, CFA
|
John N.
Hatsopoulos
|
P: (781) 466-6413
|
P: (781)
622-1120
|
E:
Ariel.Babcock@tecogen.com
|
E:
John.Hatsopoulos@tecogen.com
|
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SOURCE Tecogen Inc.