Tecogen Inc. Common Stock
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Tecogen Inc. Common Stock (TGEN) is an industrial equipment company headquartered in North Billerica, Massachusetts, that designs, manufactures, markets, and maintains cogeneration products. Incorporated in 2000, the company is best known for natural gas-powered systems that produce electricity and useful heat at the same time. It serves customers across the United States in multi-family residential, commercial, recreational, and industrial settings, working together with its subsidiaries.
Tecogen runs three business segments. The Products segment designs and sells industrial and commercial cogeneration systems and refrigeration compressors. Buyers include hospitals and nursing homes, schools and universities, health clubs and spas, hotels, office and retail buildings, food and beverage processors, multi-unit residential buildings, laundries, ice rinks, swimming pools, factories, municipal buildings, and indoor agriculture and growing facilities. The Services segment provides operations and maintenance, parts sales, and installation. The Energy Production segment installs and operates distributed generation systems and sells the resulting electricity, heat, hot water, and cooling to customers under long-term energy sales agreements.
The company's product line covers several gas-powered technologies. The InVerde e+ and TecoPower units supply electricity and hot water, while Tecochill provides air conditioning and refrigeration chillers, including hybrid-drive and gas engine-driven models that produce chilled and hot water. Tecofrost is a gas engine-driven refrigeration compressor that also yields hot water as a byproduct, and Ultera is an emissions control technology. Tecogen reaches buyers through in-house marketing along with independent sales agents and representatives, and TGEN earns revenue from equipment sales, recurring service contracts, and on-site energy sales.