Tecogen Inc. Expands Service Contracts for Cogeneration Units

Tecogen Inc., a provider of cogeneration products, has acquired service agreements for an additional 31 cogeneration units, bringing the total number of service contracts secured this year to 83. The company noted that 52 service agreements were added in February, which included 16 already operational units and 36 scheduled to commence later in the year.

Abinand Rangesh, CEO of Tecogen, commented on the update, linking the expansion to customer needs to manage rising power costs. "Customers are seeing soaring power bills. Having a service contract increases uptime, which in turn increases customer savings," he stated. Rangesh also highlighted that the increasing number of service contracts plays a critical role in Tecogen's financial strategy, helping the company cover fixed costs while pursuing larger product orders.