Tecogen, a manufacturer of modular Combined Heat and Power (CHP) systems, announced it has sold in separate transactions of restricted common stock an aggregate of $3,349,700 at $4.50 per share to improve its balance sheet.
Tecogen CHP systems offer facilities energy efficiency and carbon reduction, using a proprietary two-stage emission system, which combines microgrid capabilities, interconnection certifications, black-start ability and high part-load efficiencies. Tecogen manufactures, installs and maintains high efficiency, ultra-clean Combined Heat and Power products including natural gas engine-driven cogeneration, air conditioning systems, and water heaters for industrial and commercial use. Tecogen has shipped more than 2,000 units, supported by a network of engineering, sales, and service personnel across the United States.
The Department of Energy is heavily promoting CHP and has launched seven new regional Combined Heat and Power Technical Assistance Partnerships across the country in a bid to strengthen US manufacturing competitiveness, lower energy consumption, and reduce harmful emissions.