Significant Revenue Growth
Total revenues for the quarter increased to $7.3 million, compared to $4.8 million in the second quarter of 2024, due to a 54% increase in products revenues.
Data Center Strategy Progress
Tecogen signed its first Letter of Intent with a 100-megawatt-plus data center, with potential to expand to 500 megawatts. The company is quoting two additional projects with 60 to 100 chillers each.
New Product Introduction
Introduction of a dual power source 300-ton chiller targeted at data centers, offering enhanced resiliency and fuel flexibility.
Improvement in EBITDA
The EBITDA loss improved to $1.16 million, and the adjusted EBITDA loss improved to $1.54 million, compared to an adjusted EBITDA loss of $2.19 million in the second quarter of 2024.
Successful Capital Raise
Post capital raise, the company's cash position increased to $18.7 million, enhancing its financial stability.