Market Overview

Tecogen Announces Additional Sales of Eco-Friendly TecoChill® Systems

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WALTHAM, MA, Oct. 08, 2020 (GLOBE NEWSWIRE) -- 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 multiple sales of TecoChill® STx series chillers, including a 200 ton TecoChill for a school in Connecticut, and two 150 ton TecoChill units to a public works utility in Virginia.  These systems will provide a total of 500 tons of natural gas engine driven cooling and reduce electric demand by 300 kW using inexpensive natural gas instead of electricity.  By using the free heat recovery from the TecoChill systems, the aggregate greenhouse gas (GHG) reduction potential from the projects is estimated to be approximately 150 tons of CO2 per year.

"Facilities with large cooling loads often struggle with the utility costs associated with running electric chillers," noted Stephen Lafaille, Director of Business Development at Tecogen.  "Even the most efficient electric chillers consume significant electricity at peak times in cooling season when the grid is least efficient, most expensive, and vulnerable to outages.  By removing the entire cooling load from the electric utility, facilities can immediately reduce both their electric bills and GHG footprint while benefitting from improved resiliency to grid outages." 

TecoChill systems offset emissions from the incremental electrical generation otherwise required during periods of peak electrical demand in the summer months. The TecoChill system is approximately 90% efficient because it uses the heat generated by the chiller, resulting in net GHG reductions when compared to electric chillers using less efficient grid power. The GHG reductions offered by mechanical cogeneration systems and comparisons to the efficiencies of traditional electrical cogeneration systems are detailed in Tecogen's Electrification Policy Paper released in May, 2020.

"Both our TecoChill and Tecofrost systems generate significant operational cost savings while reducing a facility's GHG footprint," stated Benjamin Locke, Tecogen's CEO.  "We continue to work with state regulators seeking to meet carbon reduction goals by sharing insight into the GHG benefits of Tecogen's TecoChill and Tecofrost mechanical cogeneration systems compared to less efficient electric motor driven systems.  Our efforts to increase recognition of these benefits are designed to support the adoption of thoughtful incentive programs that will benefit purchasers of TecoChill and Tecofrost systems and minimize the environmental impact from less efficient electric chillers."

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 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 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" that are 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, 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, CEO

P: (781) 466-6402

E: Benjamin.Locke@Tecogen.com

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