Tecogen

What Tecogen does

Tecogen, Inc. (NYSE American: TGEN) is a US-based clean energy technology company that designs, manufactures, and services natural gas engine-driven combined heat and power (CHP) modules, chillers, and heat pumps for on-site electricity, heating, and cooling. Founded in the early 1960s as the R&D arm of Thermo Electron (later Thermo Fisher Scientific), Tecogen was spun out in 1987, became part of Thermo Power Corporation in 1992, and was acquired by a private investor group in 2000, including co-founders of Thermo Electron. It merged with American DG Energy in 2017. The company's core technology uses internal combustion engines fueled by natural gas to generate electricity while recovering waste heat for simultaneous chilled water and hot water production, with patented ultra-low emissions (Ultera) and inverter-based (InVerde) architectures that differentiate it from conventional electric chillers and combustion turbines.

The product portfolio spans three families: cogeneration modules (Tecopower 75kW, InVerde e+ 125kW inverter-based, Tecopack 500kW containerized microgrid), engine-driven chillers (Tecochill STx/DTx water-cooled, Tecochill Hybrid Drive air-cooled, Tecofrost industrial refrigeration), and engine-driven heat pumps (Ilios water-sourced, air-source, and split-system variants). Ultera emissions control is sold both as a built-in feature and as a retrofit kit for third-party engines. The portfolio is unified by CHPInsight, a cloud-based monitoring and analytics platform, and is backed by a nationwide factory service network covering 3,500+ installed units.

Tecogen makes money through three revenue streams: (1) hardware sales of products and Ultera retrofit kits via a network of 50+ manufacturer's representatives and direct enterprise sales, (2) recurring service and maintenance contracts (typically 3-5 years, billed on run-hours) delivered through 10 factory service centers in the US and Toronto, and (3) parts sales. Customers are concentrated in healthcare (primary), data centers (emerging focus following the March 2025 Vertiv partnership), industrial/manufacturing, ice rinks and recreation, indoor growing/cannabis, and breweries/distilleries. Pricing is custom quote-based on facility requirements. The company is publicly traded with 51-100 employees, FY 2025 revenue of $27.07M, and a market capitalization of approximately $171M as of June 2026.

Name

Tecogen

Legal name

Tecogen, Inc.

Website

https://tecogen.com

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

51–100 employees

Short description

Tecogen (NYSE American: TGEN) designs and manufactures natural gas engine-driven combined heat and power modules, chillers, and heat pumps for on-site electricity, heating, and cooling. It serves healthcare, data centers, industrial, ice rinks, indoor growing, and brewery customers across North America via manufacturer representatives, factory direct sales, and a 10-center service network.

Ownership category

akta.pro rank

Product category

Cogeneration and Engine-Driven Chillers

NAICS

Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Engine, Turbine, and Power Transmission Equipment Manufacturing (3336), Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415)

SIC

Cogeneration Services & Small Power Producers (4991), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Engines & Turbines (3510)

akta.pro primary industry

Onsite Low-Carbon Heat & CHP (Electrified CHP, Fuel Cells, Renewable CHP) (EUABAJAI)

akta.pro secondary industries

TES Systems Integration, Controls & Optimization (TES EMS, Controls, Dispatch) (EUAFANAK), Cold Chain & Refrigeration TES (Warehouses, Food & Pharma) (EUAFANAJ)

Keywords

• Combined heat and power
• Engine-driven chillers
• Cogeneration modules
• Natural gas cooling
• Emissions control systems

Headquarters

HQ city

Waltham

HQ country

United States

HQ region

North America

Offices12 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Product Sales: Sale of cogeneration modules (Tecopower, InVerde e+, Tecopack), chillers (Tecochill STx, DTx, Hybrid Series, Tecofrost), and Ultera emissions retrofit kits. Products are sold through manufacturer's representatives and direct sales force.
2. Service & Maintenance: Comprehensive factory service programs ranging from time-and-materials to complete bumper-to-bumper coverage. Service contracts typically 3-5 years with billing based on actual run-hours. Nationwide service centers in MA, CT, NY, NJ, FL, MI, CA, and Toronto.
3. Parts Sales: Full spare parts inventory stocked at all local factory service offices coast-to-coast and headquarters in Massachusetts. Parts available for immediate order via toll-free number.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

Tecogen designs, manufactures, and services natural-gas-fueled, engine-driven combined heat and power (CHP) products including cogeneration modules, engine-driven chillers, and heat pumps that simultaneously generate on-site electricity, heating, and cooling. The company also sells patented Ultera ultra-low emissions control technology as both built-in systems and retrofit kits, and supports its installed base through a nationwide factory service network selling parts, multi-year maintenance contracts, and turnkey installation services.

Product overview

Tecogen is a clean energy technology company offering an integrated portfolio of natural gas engine-driven cogeneration modules, industrial chillers, and heat pumps for on-site power generation and cooling. The core product lines include: (1) Cogeneration products — Tecopower 75kW, InVerde e+ 125kW (inverter-based), and Tecopack 500kW (containerized microgrid solutions) — which generate electricity and recoverable heat from natural gas; (2) Chiller products — TECOCHILL Hybrid Drive Air-Cooled Chillers, TECOCHILL STx/DTx Series Water-Cooled Chillers, and Tecofrost industrial refrigeration chillers — which provide cooling using natural gas engines; (3) Heat pumps — Ilios Water-Sourced, Air-Source, and Split System variants — offering high-efficiency heating and cooling; (4) Ultera emissions control technology — available as built-in systems on Tecogen products or as retrofit kits for third-party engines. The portfolio is unified by Tecogen's CHPInsight cloud-based monitoring platform and supported by nationwide factory service, turnkey installation, and application engineering support. The company positions its products for healthcare, data centers, industrial manufacturing, ice rinks, breweries, indoor agriculture, and recreation facilities.

Differentiator

Problem solved

Functional benefit

Brands

• TECOCHILL: Natural gas-powered engine-driven chillers for cooling applications in data centers, healthcare, industrial, and other facilities
• Tecopower
• InVerde e+
• Tecopack
• Ilios
• Ultera
• CHPInsight

Products and services

• InVerde e+ 125kW The first and only clean natural gas engine-driven inverter-based cogeneration module meeting CARB 2007 distributed generation regulations, featuring variable speed operation from 10-125kW output, 33% electrical efficiency (94% overall), CERTS microgrid compatibility, and DC input for battery and solar PV integration.
• Tecopower 75kW Natural gas engine-driven cogeneration module providing on-site power generation with heat recovery, the original Tecogen product that established the company's market leadership.
• Tecopack 500kW Pre-engineered, microgrid-enabled, plug-and-play CHP plant available in 250kW and 500kW sizes, built around InVerde e+ modules. Multiple units can be paired to reach 1MW+ capacity with simplified mechanical, plumbing, and electrical interconnections.
• TECOCHILL Hybrid Drive Air-Cooled Chillers Air-cooled packaged chillers with up to 200 tons cooling capacity in AHRI conditions (300 tons in data center conditions), featuring dual-power source operation on natural gas and electricity with up to 50% lower operating costs. Uses R513a refrigerant and proprietary hybrid-drive VFD technology.
• TECOCHILL STx Series Water-Cooled Chillers Water-cooled engine-driven chillers from 150-200 tons with single driveline (one natural gas engine) driving a variable-speed single-screw rotary compressor using R-134a refrigerant, achieving IPLV COP of 2.6 with optional Ultera emissions controls.
• TECOCHILL DTx Series Water-Cooled Chillers Water-cooled engine-driven chillers up to 400 tons with dual drivelines (two natural gas engines) driving variable-speed single-screw rotary compressors using R-134a refrigerant, providing higher capacity with the same efficiency and emissions control options.
• Tecofrost Natural gas engine-driven screw package for industrial refrigeration, relaunched in 2019, designed for low-temperature applications requiring robust and reliable cooling.
• Ilios Water-Sourced Heat Pump Engine-driven heat pump launched in 2013, more than twice as efficient as conventional water heaters, providing both chilled and hot water simultaneously with free waste heat recovery.
• Ilios Split System Water Heater Split system configuration of the Ilios heat pump launched in 2015, offering increased flexibility for installation in facilities with space or configuration constraints.
• Ultera Retrofit Kits Patented ultra-low emissions control system for retrofit on select rich-burn natural gas engines. Widens the air-fuel control window by nearly four times and lowers NOx and CO to near-zero levels, available for both Tecogen products and other brands.
• CHPInsight Cloud-based real-time equipment monitoring and analytics platform for Tecogen's CHP fleet. Collects, analyzes, and manages equipment data continuously, providing proactive maintenance alerts, performance optimization, and remote diagnostics through a customer dashboard.
• Factory Service and Maintenance Nationwide factory service program with service centers in Massachusetts, Connecticut, New York, New Jersey, Florida, Michigan, California, and Toronto. Covers scheduled and unscheduled maintenance, major parts replacements, with service agreements based on actual run-hours.
• Turnkey Installation Services Factory-engineered turnkey installation including system design, load modules, factory-engineered accessories, and installation, available on all products with over 200 cogeneration units installed nationwide.
• Parts Support Full spare parts inventory stocked at all local factory service offices coast-to-coast and headquarters in Massachusetts, with local technicians starting each day with fully stocked service vehicles.
• Application Support Expert technical application support including system sizing, economic feasibility assessments, environmental assessments, air permitting, electrical interconnection, engineering design review, and incentive identification.
• Ultera Technologies (ULTRATEK Joint Venture) Joint venture formed to adapt Tecogen's patented Ultera ultra-low emissions control technology for fork truck and automotive applications, positioning near-zero emissions comparable to fuel cell technology.

Quantifiable outcome

• 40-60% reduction in chiller energy costs
• +7 more outcomes

Named customers33 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

One partnership is on record.

• Vertiv Group Corp.coreChannel Partner/ Reseller/ Distributor · 3 March 2025Global partnership enabling Vertiv to offer Tecogen's natural gas-powered chiller technology to data centers worldwide. Combines Vertiv's 60+ years of data center infrastructure expertise with Tecogen's proven cooling technology to help operators reduce grid reliance while expanding AI capabilities. Partnership allows Tecogen to scale rapidly through Vertiv's global distribution network. Vertiv expected to place an imminent purchase order for 1 MW of cooling equipment as a showcase installation.

Scale indicators15 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Bloom Energy: Fuel cell-based clean on-site power generation company with major data center customers (Equinix, AEP, Oracle). Competes with Tecogen for the same behind-the-meter data center power opportunity, but with a different (fuel cell) technology stack.
• 2G Energy: German manufacturer of gas engine-driven combined heat and power plants and cogeneration modules. Closest international analog to Tecogen in product architecture (natural gas engine CHP) and target customers (industrial, commercial, municipal).
• Capstone Green Energy: Manufacturer of microturbine-based combined heat and power and cooling systems for commercial and industrial customers. Direct competitor to Tecogen in the small-scale on-site CHP market, particularly in healthcare, hospitality, and data center applications.

Emerging players

• Mainspring Energy: Developer of linear generator technology for distributed power generation with a focus on data centers and commercial customers. Competes for the same behind-the-meter data center opportunity that Tecogen is targeting via Vertiv, with significant recent hyperscale traction.

Broad incumbents

• Trane Technologies: Global HVAC and chiller manufacturer (Trane brand) with a major data center cooling business. Competes with Tecogen's TECOCHILL in commercial and data center cooling, though Trane's portfolio is dominated by electric-driven chillers rather than engine-driven.
• Carrier Global Corporation: Global HVAC, refrigeration, and chiller manufacturer (Carrier brand) with strong data center cooling presence. Competes with Tecogen's chillers in commercial cooling applications but does not offer natural gas engine-driven chillers as a specialty product.
• Caterpillar Inc. Global manufacturer of gas generator sets, CHP systems, and engine-driven equipment through its Caterpillar Electric Power division. Competes in the same commercial/industrial on-site power market as Tecogen but at substantially larger scale.
• Generac Holdings: Leading manufacturer of power generation equipment including natural gas and propane generators for residential, commercial, and industrial customers. Overlaps with Tecogen in on-site gas-fueled power generation but primarily focused on standby rather than continuous CHP.
• Cummins Inc. Global manufacturer of engines, generators, and power systems including natural gas generator sets and CHP solutions. Overlaps with Tecogen in on-site power generation for commercial, industrial, and data center customers, though at much larger scale and broader portfolio.

Regional players

• Yanmar Energy System: Japanese manufacturer of gas engine-driven cogeneration systems and micro CHP units, with primary presence in Asia and limited overlap with Tecogen's North American-focused go-to-market. Comparable in product architecture (small-scale natural gas CHP).

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC8rlX6lZ1v1xvl0dHJJpvw
• Xx.com/Tecogen_Inc
• LinkedInlinkedin.com/company/tecogen

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds7 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tecogen