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Tecogen sells two 200-ton chillers to indoor marijuana-growing facility in Massachusetts

The units will ship in the first quarter and are expected to be operational in the second half of the year

An indoor marijuana facility
The company expects additional sales as other states issue permits for marijuana-growing facilities

Tecogen Inc (NASDAQ:TGEN) said Wednesday that it has sold a pair of 200-ton chillers to an indoor marijuana-growing facility in Massachusetts.  

The company said in a press release that the units will ship in the first quarter and are expected to be operational in the second half of the year. The order includes a maintenance contract and will be serviced out of Tecogen’s headquarters in Waltham, Massachusetts.   

READ: Tecogen blazes a greener path in the energy space

“Massachusetts is leading the way in terms of energy-efficient indoor cultivation practices,” Stephen Lafaille, director of business development at Tecogen, said in a statement.

He added that the company expects additional sales as other states issue permits for marijuana-growing facilities.

The legal marijuana market in the US is expected to reach $23.4 billion in revenue by 2022, according to Tecogen, citing Forbes data. 

Shares fetched $3.56 in Tuesday’s Nasdaq trading.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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NASDAQ:TGEN
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