Tecogen Inc
OTC:TGEN
Tecogen Inc
Tecogen, Inc. engages in the design, manufacture, marketing, and maintenance of cogeneration and combined heat and power products. The company is headquartered in Waltham, Massachusetts and currently employs 77 full-time employees. The company went IPO on 2014-05-20. These include natural gas engine-driven combined heat and power (CHP) systems, chillers and heat pumps for multi-family residential, commercial, recreational and industrial use. Its segments include Products, Services and Energy Production. Products segment designs, manufactures, and sells industrial and commercial cogeneration systems at its customers facilities. Services segment provides operations and maintenance (O&M) services and turn-key installation for its products under long term service contracts. Energy Production segment sells energy in the form of electricity, heat, hot water, and cooling to its customers under long-term energy sales agreements. Its product lines include the InVerde e+ and TecoPower cogeneration units, Tecochill air-conditioning and refrigeration chillers, Tecofrost gas engine-driven refrigeration compressors, Ilios water heaters and Ultera emissions control technology.
Tecogen, Inc. engages in the design, manufacture, marketing, and maintenance of cogeneration and combined heat and power products. The company is headquartered in Waltham, Massachusetts and currently employs 77 full-time employees. The company went IPO on 2014-05-20. These include natural gas engine-driven combined heat and power (CHP) systems, chillers and heat pumps for multi-family residential, commercial, recreational and industrial use. Its segments include Products, Services and Energy Production. Products segment designs, manufactures, and sells industrial and commercial cogeneration systems at its customers facilities. Services segment provides operations and maintenance (O&M) services and turn-key installation for its products under long term service contracts. Energy Production segment sells energy in the form of electricity, heat, hot water, and cooling to its customers under long-term energy sales agreements. Its product lines include the InVerde e+ and TecoPower cogeneration units, Tecochill air-conditioning and refrigeration chillers, Tecofrost gas engine-driven refrigeration compressors, Ilios water heaters and Ultera emissions control technology.
Revenue Growth: Tecogen reported Q3 2025 revenue of $7.2 million, up from $5.6 million in Q3 2024, driven by a 115% increase in products revenue.
Wider Net Loss: Net loss widened to $2.13 million from $0.93 million last year, mainly due to higher material and labor costs in the Services segment and increased operating expenses.
Margin Pressure: Gross margin dropped sharply to 30.4% from 44.1% a year ago, as service margins suffered from engine investments and higher New York labor costs.
Data Center Opportunity: Significant momentum in the data center cooling market, with rising interest from major developers, hyperscalers, and chip companies like NVIDIA and AMD.
Vertiv Partnership: The partnership with Vertiv has accelerated recently, with joint efforts to scale up manufacturing and increase credibility with large data center clients.
Manufacturing Scale-Up: Tecogen is expanding factory throughput and working with contract manufacturers to support higher demand, especially for the dual-source power chillers.
Strong Pipeline: Backlog stands at about $4 million, with expectations of closing more multifamily and cannabis projects soon, but focus is shifting to larger data center deals.
Healthy Cash Position: The company has about $14 million in cash, expects $2.5 million in collections soon, and now carries no debt.
