WALTHAM, Mass., Jan. 7, 2016 /PRNewswire/ -- Tecogen® Inc. (NASDAQ: TGEN) is pleased to announce the sale of two InVerde® Ultera™ 100kW cogeneration modules to a new construction building in Queens, NY. Straddling the Long Island City and Astoria neighborhoods the planned multi-unit luxury residential building, as well as the heated rooftop pool, will be partially powered by the clean and efficient InVerde combined heat and power (CHP) units. Fitted with Tecogen's Ultera emissions control technology and powered by cheap and abundant natural gas, the new building will benefit from a nearly 50% reduction in operating cost and carbon output over conventional power and heating equipment while producing near-zero levels of smog-forming pollutants. Worth nearly half a million dollars, the sale includes additional engineered accessories for ease of installation as well as a signed, full long term service agreement.
Developed by one of the largest privately held real estate firms in the United States, the building will feature highly efficient systems which prioritize the latest in cutting edge clean design. The InVerde units will be installed on the building's roof, requiring special weather resistant housing and additional sound proofing. Because of the modular design of the equipment, allowing it to fit through standard doorways and into typically sized elevators, the rooftop installation will take place when the building is nearing completion late next year.
The installation is being managed by Ventrop Engineering Consulting Group, a professional engineering firm that has done multiple installations of Tecogen equipment in the New York area over the last several years. Speaking about the project, Nick Raad of Ventrop noted, "Tecogen's InVerde CHP equipment will seamlessly connect to the grid, providing the building with backup power in case of emergency and an efficient cost-effective power and heating solution year-round."
Including this sale, product and installation backlog was $11.6 million as of the end of the fiscal fourth quarter on December 31, 2015. Year-end backlog was up from the $11.0 million reported in November in conjunction with third quarter earnings and ahead of the Company's goal of delivering quarter end backlog consistently above $10 million.
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 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.
Forward Looking Statements
This press release contains 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.
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SOURCE Tecogen Inc.