US CHP system maker’s IPO aims to raise US$25m

Tecogen, the Massachusetts-based, modular CHP system manufacturer, has reportedly filed for an IPO on NASDAQ, and is seeking to raise $25m.

Tecogen began in the early 1960s as a research division of Thermo Fisher Scientific. And since its spin-off 13 years ago, the company has shipped in the region of 2000 cogen units.

Over the past year, Tecogen has reportedly booked around $16m in sales of its core CHP products, which include cogeneration units, such as its InVerde Ultra 100 CHP module (pictured) that supply electricity and hot water, chillers that provide air-conditioning and hot water and high-efficiency water heaters.

Its traditional customers include hospitals and nursing homes, colleges and universities, health clubs and spas, hotels and motels, office and retail buildings, food and beverage processors, multi-unit residential buildings, factories, municipal buildings and military installations.

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