Tecogen (TGEN) Registration Filing summary

Company overview and business model

• Designs, manufactures, markets, and maintains high-efficiency, ultra-clean cogeneration products for distributed power generation, including natural gas engine-driven combined heat and power (CHP), air conditioning systems, and water heaters for various sectors.

• Operates through three segments: Products (CHP systems), Services (long-term O&M contracts), and Energy Production (on-site energy systems with long-term sales agreements).

• Focuses on growth in AI data centers and controlled environment agriculture, leveraging partnerships and patented emissions technology.

• Products are modular, standardized, and designed for efficiency, resiliency, and reduced carbon footprint, with patented Ultera emissions control technology.

Financial performance and metrics

• As of March 31, 2025, had cash and cash equivalents of approximately $4.1 million.

• Net tangible book value per share as of March 31, 2025, was $0.19; post-offering, pro forma as adjusted net tangible book value would be $0.83 per share, with immediate dilution of $6.67 per share to new investors at an assumed $7.50 offering price.

• Pro forma shareholders' equity post-offering would be $27.7 million, up from $9.5 million actual as of March 31, 2025.

Use of proceeds and capital allocation

• Net proceeds will be used for continued product development, increased sales and marketing, expansion into the data center market, additional human resources, capital expenditures, and general working capital.

• Management retains broad discretion over allocation of proceeds.