- Tecogen Inc TGEN signs 25 long-term maintenance services contracts with the management of a large residential complex in Toronto, Ontario.
- The 20-year contracts provide for the maintenance of 31 InVerde e+ cogeneration systems and ancillary components.
- Each InVerde system will provide electricity and hot water for residential buildings.
- Tecogen will service the systems out of its Ontario service center, established in March 2020.
- "These units are expected to run with over 93% uptime, which maximizes the savings for our customer as well as our service revenues which are billed per run hour," commented Benjamin Locke, Tecogen's CEO.
- Price action: TGEN shares are trading higher by 10.5% at $2.005 on the last check Tuesday.
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