WALTHAM, Mass., Aug. 4, 2016 /PRNewswire/
-- Tecogen® Inc. (NASDAQ: TGEN), a leading provider
of cost efficient, clean and reliable products for power
production, heating and cooling which, through patented technology,
nearly eliminate criteria pollutants and significantly reduce a
customer's carbon footprint, is pleased to announce further funding
for joint venture affiliate Ultra Emissions Technologies Ltd.
("ULTRATEK"). In a strong demonstration of support for the
automotive emissions research and development efforts, the ULTRATEK
partners have invested an additional $4
million, $2 million of which
was contributed by Tecogen to maintain the company's ownership
interest in the important automotive emissions venture.
"Results from initial Phase 1 testing of Ultera on a light duty
vehicle at AVL's California Technology Center have been thoroughly
analyzed and indicate the patented emissions control system is
highly effective at delivering further reduction in criteria
pollutants that contribute to smog and are harmful health hazards.
Although the funds are not yet needed, this additional round of
financing is a strong vote of confidence from all of the ULTRATEK
partners, including Tecogen, in support of the development
initiative. ULTRATEK now has the financial flexibility to rapidly
pursue a wide range of development options and potential partners
with complete confidence," said Robert
Panora, ULTRATEK Co-CEO and Tecogen President and COO.
ULTRATEK's Phase 1 testing (detailed here) focused on simulated
driving cycles prescribed by federal regulations for vehicle
certification. In these tests, criteria pollutants (those
contributing to smog and negatively impacting human health) were
reduced in all simulated drive conditions, vastly improving
emissions performance when compared to currently available
emissions control technologies. Ultera benefits were particularly
noteworthy during aggressive driving conditions found in certain
federal test cycles. The Phase 1 testing was completed at the AVL
California Technology Center in Lake
Forest California utilizing their state of the art vehicle
test cell. The laboratory, in addition to its ability accurately
replicate driving conditions, can measure pollution output of the
vehicle in real time with extreme precision. The vehicle was a new
light-duty 2016 model driven for several months to complete its
"break in" period, as recommended by the manufacturer's
specifications, and was in compliance with emissions regulations as
currently tested on federally prescribed simulated driving
cycles.
About Ultra Emissions Technologies Ltd.
Ultra Emissions Technologies Ltd, known as ULTRATEK, is a 50/50
joint venture company formed in December
2015 and incorporated in the Island of Jersey, Channel
Islands. The company's mission is to develop and adapt Tecogen's
patented Ultera ultra-low emissions control technology for the
gasoline transportation markets. ULTRATEK maintains the exclusive
licensing rights to the Ultera technology for the global vehicle
market. The company is funded by a group of Strategic Investors and
staffed by an expert team of engineers and consultants.
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.