Tecogen (NASDAQ: $TGEN) Receives Order for Two TECOCHILL® Water Chillers for #Cannabis Growing Facility
WALTHAM, MA - June 20, 2017 (Investorideas.com Newswire) Tecogen® Inc. (NASDAQ: TGEN), provider of clean energy products which, through patented technology, nearly eliminate criteria pollutants and significantly reduce a customer's carbon footprint, today announced the sale of two model DTx water chillers for use in an indoor cannabis growing facility located in Massachusetts. The two chillers will provide 700 refrigeration tons of cooling (350 tons each). The sale, including additional accessories and options, is valued at $750,000. The cultivation area of the facility is approximately 50,000 square feet and is planned to include product for both medicinal and recreational use.
The TECOCHILL natural gas powered chillers will be used to cool the growing space, offsetting the concentrated heating effect of the lighting systems utilized to promote plant growth. In addition, the thermal energy from the TECOCHILL engines will be recovered in the form of hot water and utilized for dehumidification. The system is expected to reduce operating costs for the facility by 50% while providing approximately equal reduction in the facility's carbon footprint (relative to conventional electric chillers). This sale follows others in the Cannabis market for the company in California, Colorado, Massachusetts, and Canada where its production and sale has been legalized.
"The indoor and greenhouse cultivation markets has become a major market for the TECOCHILL product line," said Tecogen Co-CEO Benjamin Locke. "Indoor cultivation in particular is an excellent fit for Tecogen's gas powered chillers as these facilities are often adapted to preexisting buildings that are not equipped to handle the high electric loading requirements. The TECOCHILL option may preclude an expensive electric upgrade or free up the existing electric supply for other process operations. Thereafter, the annual operating savings are substantial, usually paying back the added investment in 1-2 years."
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 30 years, Tecogen has shipped more than 2,500 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:
John N. Hatsopoulos
P: (781) 622-1120
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