Tecogen Announces Sale of 1,200 Ton Tecochill® Chiller System for Indoor Cultivation Facility
March 17 2021 - 9:00AM
via NewMediaWire -- 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 three 400-ton Tecochill™ chillers integrated into a chiller
system for use by an indoor cannabis cultivation facility in
Massachusetts. The chillers will
be packaged integrated into a modular packaged
container that will be located outside the grow facility to
maximize indoor space for plant growth. The sale brings the
total number of Tecochill chillers sold to cannabis cultivation
facilities in Massachusetts to 29. The chiller system will be
serviced out of Tecogen’s Waltham service headquarters.
“This project was a team effort to develop a
chiller plant that would optimize the grow space in the customer’s
facility,” noted Stephen Lafaille, Vice President of Business
Development. “Our Manufacturer’s Representative, D&B
Engineering, worked with the facility ownership to develop a
packaged solution with simplified installation adjacent to the
facility. This type of modular solution offers tremendous benefits
to growers when it comes to accelerating their construction
schedule and we are seeing increased interest for this method of
equipment delivery. Ultimately the facility owners will
benefit from the reduced operating costs using the Tecochill system
and the additional resiliency to grid outages.”
As recreational marijuana is legalized in more
states, the operational costs of cultivation become increasingly
important as industry participants in each state become more price
competitive.With natural gas prices near historic lows, operating
costs of gas cooling are significantly lower than cooling grow
spaces with standard electric chillers. The Tecochill solution also
eliminates the need for additional 3-phase power the facility would
need for cooling with electric chillers, which provides additional
resiliency to grid outages, as well as initial cost reductions in
both electrical infrastructure as well as back-up generation
equipment.
“We are fortunate to have experienced
engineering partners to bring our Tecochill solution to this
customer,” noted Benjamin Locke, Tecogen CEO. “The
Tecochill solution for indoor cultivation is becoming increasingly
sought after by facility owners seeking the lowest operating
costs. With the added benefits of greenhouse gas (GHG)
reduction capabilities of Tecochill compared to conventional
electric chillers and the reduced dependence on grid power for
system operation, we expect additional cultivation facilities to
follow similar design choices.”
About TecogenTecogen 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 use. The
company provides 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 35 years, Tecogen has shipped
more than 3,000 units, supported by an established network of
engineering, sales and service personnel throughout North America.
For more information, please visit www.tecogen.com or
contact us for a free Site Assessment.
Tecogen, InVerde e+, Ilios, Tecochill, Tecofrost,
Tecopower and Ultera are registered trademarks of Tecogen
Inc.
Forward Looking StatementsThis 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 the coronavirus pandemic on demand for our products
and services, the availability of incentives, rebates and tax
benefits relating to our products, changes in the regulatory
environment relating to our products, competing technological
developments, and the availability of financing to fund our
operations and growth.
Tecogen Media & Investor Relations Contact
Information:
Benjamin Locke, CEOP: (781) 466-6402E:
Benjamin.Locke@Tecogen.com
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