Premier NY cooperative to install 300kW InVerde clean energy system
WALTHAM, Mass., Nov. 16, 2016 - 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 an efficient 300kW clean power InVerde e+ system to Fairview at Forest Hills, NY. The multi-family residential condo-coop building is a 14-story, 464-unit, master-planned community with abundant amenities including large pool, recreation center, and modern on-site laundry facilities.
The Fairview's system is expected to ship by year-end for installation in the first half of 2017 and is part of a broader package of comprehensive energy upgrades undertaken by the building in collaboration with integrated energy services company EN-POWER Group. Following a thorough assessment of the Fairview's energy requirements and expenditures, EN-POWER's founder and managing director, Michael Scorrano, developed and recommended a number of energy efficiency measures for the property including an oil-to-gas conversion, upgraded lighting and HVAC systems.
Speaking about the project, Mr. Scorrano noted, "There are a lot of things building managers can't control when it comes to their building's cost structure, the one thing they can control is energy efficiency. Cogeneration delivers significant savings for residential buildings like the Fairview and was an excellent fit for this case."
Tecogen's Co-CEO Benjamin Locke added, "As was discussed on our earnings call last week the InVerde e+ continues to gain traction in the market with key project partners. Differentiated features including the ability to offer emergency back-up power in case of blackout and InVerde's compelling savings profile driven by our best-in-class efficiency make our equipment a natural choice for property managers. We expect Fairview residents to enjoy $150,000 - $200,000 in annual savings from selection of Tecogen equipment, all while cutting their building's energy related carbon footprint in half."
Because of the InVerde's patented and UL-certified inverter technology, the units are eligible for fast-track permitting, streamlining equipment installation. With their state-of-the-art microprocessor controls the three units can be integrated into the facility's building automation system to optimize its utilization and financial benefit. Similarly, in case of blackout, the imbedded CERTS microgrid control feature manages the smooth and balanced transition to standby operation - ensuring building occupants are never left in the dark and offering essential emergency power. First launched in 2008, the time-tested installed InVerde fleet has logged over 2 million hours of run time, demonstrating proven reliability.
About EN-POWER Group
EN-POWER GROUP is an integrated energy services company founded in 2003 by Michael Scorrano to assist large and small energy users with effective energy management. After conducting a thorough assessment of your energy requirements and expenditures, we develop and implement a comprehensive management plan, comprising such measures as energy supply, energy conservation, and green initiatives. In addition to directly assisting end users, many channel partners including professional services firms, manufacturers, contractors, and managing agents look to the EN-POWER GROUP for objective advice on energy related matters. We specialize in consolidating all available financial incentives including financing, rebates, and tax credits from various state and federal agencies as well as utility companies.
For more information please visit www.en-powergroup.com.
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 20 years, Tecogen has shipped more than 2,300 units, supported by an established network of engineering, sales, and service personnel across the United States.
For more information, please visit www.tecogen.com.
Tecogen Media & Investor Relations Contact Information:
Ariel F. Babcock, CFA
P: (781) 466-6413
John N. Hatsopoulos
P: (781) 622-1120
SOURCE Tecogen Inc.
Web Site: http://www.tecogen.com