July 9, 2014
Tecogen Inc. (NASDAQ: TGEN) announced the sale of combined heat and power (CHP) systems to YMCA facilities in Meriden and Milford, Connecticut. The systems will supply 60 kW of electricity to each facility, while simultaneously providing hot water for building heating, domestic hot water, and pool heating.
The Meriden YMCA project is supported through the Connecticut Property Assessed Clean Energy (C-PACE) program, an innovative program that is helping commercial, industrial and multi-family property owners access affordable, long-term financing for smart energy upgrades to their buildings. The project was also assisted by the Connecticut Clean Energy Finance and Investment Authority (CEFIA), a "Green Bank" that uses public resources to attract and deploy capital investment in clean energy projects.
By installing the Tecogen CHP system, an estimated savings of $35,000-$40,000/year will be realized by each facility. In addition, CO(2) and other harmful criteria pollutants (CO, NOx) will be reduced with the Tecogen Ultra emissions system option, which is available on all Tecogen CHP systems.
These projects join other recent Tecogen CHP installations at YMCAs in Connecticut. Tecogen recently installed a 60 kW CHP system at the Soundview Family YMCA in Branford, a 75 kW CHP system at the Northern Middlesex YMCA in Middleton, and a 75 kW CHP system at the Greenwich YMCA. The systems join a large fleet of Tecogen CHP and chiller systems operating in the state.
"Health facilities such as YMCAs are a natural fit for Tecogen CHP systems," said Robert Panora, Tecogen's President and Chief Operating Officer. "The typical YMCA facility has large electric and gas bills due to the demand for hot water and power year round. By installing a Tecogen CHP system, the amount of electricity needed from the grid is reduced, and the thermal output of the system lowers the demand for existing boilers to heat both the building and the pools. We thank the C-PACE program for giving facilities a viable financial mechanism for installing clean energy systems from Tecogen."
Both YMCAs are expected to have the CHP systems operational in time for the 2014 winter heating season.
Tecogen manufactures, installs, and maintains high efficiency, ultra-clean combined heat and power products including natural gas engine-driven cogeneration, air conditioning systems, and high-efficiency water heaters for industrial and commercial use. Tecogen has shipped more than 2,000 units, supported by an established network of engineering, sales, and service personnel across the United States.
For more information :
45 First Avenue
United States, 02451
John N. Hatsopoulos, Investor Contact
David Garrison, Tecogen Media Contact
Director of Finance