Tecogen’s Inverde e+ Continues to Play an Important Role in Easing Grid Constraints in NYC
September 05 2018 - 9:30AM
Tecogen Inc. (NASDAQ: TGEN), a clean energy company providing
ultra-efficient, clean, natural gas powered on-site power, heating
and cooling equipment, is pleased to announce several InVerde e+
cogeneration sales in New York City. Six InVerde e+
cogeneration units totaling 800 kW of microgrid enabled electric
generation have been ordered and are currently being installed in
four different projects. The units are expected to save over
$1 million annually on energy costs and will provide backup power
during any grid outages.
“The electricity demands of New York City are magnified on hot
summer days when electricity use exceeds baseline generation
capacity,” said Abinand Rangesh, Director of Project Development
for Tecogen. “Our InVerde e+ systems play an important role
in easing the capacity constraints during these peak periods.
Using our cloud-based monitoring system and controls we can respond
to utility requests for grid support services such as demand
response. We have several sites currently enrolled in these
programs, which ultimately result in additional savings for our
customers.”
Tecogen has the largest fleet of inverter-based CHP systems in
New York City with 350 GWh generated since 2008. The systems
are maintained, almost exclusively, by three Tecogen service
centers located in Valley Stream, NY, Westchester County, NY, and
Piscataway, NJ. The close proximity of our service centers to
sites, local stocking levels, and quantity of mobile technicians is
essential when participating in grid response programs and
ultimately reflects on Tecogen’s record fleet performance
capability.
“The InVerde e+ system is ideally suited for the changing needs
of power generation in urban environments such as New York City,”
stated Benjamin Locke, Tecogen CEO. “The utility is
increasingly turning to microgrid-enabled technology that can
provide assistance in times of critical grid needs. We expect
more utilities to require smart inverters such as our InVerde e+
system as utilities turn to distributed generation to play a bigger
role in overall grid management.”
All six Tecogen systems will receive state incentives that help
offset overall system cost.
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.
In business for over 35 years, Tecogen has shipped more than
3,000 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 e+, Ilios, Tecochill, and Ultera are registered
or pending trademarks of Tecogen Inc.
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," "project," "target,"
"potential," "will," "should," "could," "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. Given these
uncertainties, you should not place undue reliance on these
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 those factors described in our Annual Report on
Form 10-K and our Quarterly Reports on Form 10-Q under “Risk
Factors”, among the factors that could cause actual results to
differ materially from past and projected future results are the
following: fluctuations in demand for our products and services,
competing technological developments, issues relating to research
and development, the availability of incentives, rebates, and tax
benefits relating to our products and services, changes in the
regulatory environment relating to our products and services,
integration of acquired business operations, and the ability to
obtain financing on favorable terms to fund existing operations and
anticipated growth.
Tecogen Media & Investor Relations Contact
Information: Benjamin Locke, CEOP: (781) 466-6402E:
Benjamin.Locke@Tecogen.com
John N. Hatsopoulos P: (781) 622-1120E:
John.Hatsopoulos@Tecogen.com
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