GlobeNewswire Inc | Jun 2, 2021 09:04AM EDT

June 02, 2021

WALTHAM, MA, June 02, 2021 (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 the sale of two InVerde e+ cogeneration systems to a large residential building in Brooklyn, New York. The system will provide 250 kW of onsite power for the building with the cogenerated heat used for space heating and domestic hot water for the facility.

The cogeneration plant for this building was designed and specified by an engineering firm that has partnered with Tecogen on several previous projects, noted Abinand Rangesh, Tecogens Vice President and General Manager. As construction activities resume post-COVID, we are seeing specification sales opportunities coming to fruition. We have been working closely with our key engineering partners to support their design efforts in both the chiller and cogeneration space by providing custom designed load modules and engineering accessories to simplify their design efforts as well as contractors installation requirements while improving operational efficiency. This has also led to improved system reliability and repeat business from satisfied engineering firms.

The 250 kW InVerde e+ system will reduce the Brooklyn residential buildings GHG footprint by 100 to 170 metric tons of CO2 per year, helping it comply with New York Local Law 97 which creates financial incentives to reduce greenhouse gas emissions. Local Law 97 acts like a carbon tax for buildings with at least 25,000 square feet of space by penalizing failures to meet specific carbon emissions limits beginning in 2024. Tecogens InVerde systems are particularly well suited for use in buildings with space limitations due to the compact size of the InVerde system (unlike other distributed generation technologies such as solar and wind, which are difficult to implement in space-constrained areas). Tecogens Ultera emissions reduction system, which is included on all Tecogen equipment, also reduces NOx and CO emissions to less than the NOx and CO emissions of equivalent sized natural gas fuel cells.

Our engineering partners appreciate the environmental and economic benefits of our InVerde cogeneration systems, particularly in cities where space is at a premium and project payback and GHG reductions are of greatest benefit to customers, noted Benjamin Locke, Tecogens CEO. Our efforts to concentrate on equipment sales specified through engineering partners continues to be an effective strategy to set Tecogen up for follow-on projects through our engineering partners.

About TecogenTecogen Inc.designs, manufactures, installs, and maintains high efficiency and ultra-clean cogeneration products, including combined heat and power systems, air conditioning systems, and high-efficiency water heaters for residential, commercial, recreational, and industrial applications. The companys cost efficient, reliable, and environmentally friendly products for energy production nearly eliminate criteria pollutants and significantly reduce customers 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. Aggregate run hours on Tecogens InVerde cogeneration systems exceeds 5 million hours. For more information, please visitwww.tecogen.comor contact us for a freeSite Assessment.

Tecogen, InVerde e+, Ilios, Tecochill, Tecofrost, Tecopack, Tecopower, and Ultera are pending or 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" 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, CEO

P: (781) 466-6402

E: Benjamin.Locke@Tecogen.com