Slide 1: Fourth Quarter & Fiscal 2020 Year End Earnings Call
OTCQX: TGEN FOURTH QUARTER & FISCAL 2020 YEAR END Earnings Call March 11, 2021
Slide 2: Participants
Participants Benjamin Locke Chief Executive Officer President & Chief Operating Robert Panora Officer Jack Whiting General Counsel & Secretary 2
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation and accompanying documents contain “forward-looking statements” which may describe strategies, goals, outlooks or other non- historical matters, or projected revenues, income, returns or other financial measures, that may include words such as "believe," "expe
Slide 4: Earnings Call Agenda
Earnings Call Agenda Agenda: Tecogen Overview Key Takeaways Q4 and 2020 Results Ultera Emissions Update Final Comments Q&A 4
Slide 5: Tecogen Overview
Tecogen Overview Clean and Efficient Energy Systems Leader in Distributed Generation Technology • Unmatched efficiency of air-conditioning and cooling systems • Ultera technology ensures emissions compliance in most stringent US districts • Enable black-start and off-grid power generation • Ranked 3
Slide 6: 4Q, FY '20 Earnings Takeaways
4Q, FY ‘20 Earnings Takeaways COVID Challenges to Core Business Segments • Product sales down YoY, Quarter over Quarter Sales Backlog Customer Segment • Service contracts/parts revenue increased 4% despite COVID closures • Installations expected to resume as COVID restrictions dissipate • Energy pro
Slide 7: 4th Quarter 2020 Results
4th Quarter 2020 Results Revenue = $5.7 million $ in thousands 4Q'20 4Q'19 • Compared to $8.7 million in 4Q’19, 35% decrease Revenue Products $ 1,781 $ 3,718 • Product revenue down 52% Service 3,435 4,304 • Service down 20% due to decreased installation activity. Energy Production 441 690 Total Reve
Slide 8: YE 2020 Results
YE 2020 Results Revenue = $28.3 million $ in thousands YE 2020 YE 2019 Revenue • Compared to $33.4 million in 2020, 15% decrease Products $ 10,534 $ 12,978 • Product revenue down 19% Service 15,883 17,308 Energy Production 1,837 3,141 • Service down 8% due to decreased installation activity. Total R
Slide 9: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Reconciliation of Q4 2020 and 2019 Net loss to Adjusted EBITDA Quarter Ended, December 31, EBITDA: Earnings Before Interest, Taxes, Non-GAAP financial disclosure 2020 2019 Depreciation & Amortization Net loss attributable to Tecogen Inc. $ (4,062,313) $ (485,564) Inter
Slide 10: YTD Adjusted EBITDA Reconciliation
YTD Adjusted EBITDA Reconciliation Reconciliation of 2020 and 2019 Net Loss to Adjusted EBITDA Year Ended, December 31, EBITDA: Earnings Before Interest, Taxes, Non-GAAP financial disclosure 2020 2019 Net loss attributable to Tecogen Inc. $ (6,150,507) $ (4,709,019) Depreciation & Amortization Inter
Slide 11: Origin Engine Ultera Agreement
Origin Engine Ultera Agreement Origin Engines See also Feb 2021 article • Domestic engine manufacturer in Diesel Progress • Innovative, fast growing supplier in industrial markets https://lnkd.in/efzs_B9 Access to a wide range of industrial engine customers Aware of growing value of low emission
Slide 12: Ultera Emissions Update
Ultera Emissions Update MCFA program - now Mitsubishi Logisnext Americas Inc. (MLA) • Remains on hold Origin agreement very positive outlook • Strong potential to expand Ultera Other lift manufacturers and other markets • Aggressive schedule for implementation Ongoing catalyst research • Third par
Slide 13: Final Comments
Final Comments 2021 annual OpEx expected <$12 million, $2.5 million improvement over 2019 Cash position strengthened by improved cash management, PPP funds Product focus on resiliency becoming more widely embraced GHG reduction benefits of all Tecogen systems an important factor in driving new sales
Slide 14: Q&A Company Information Contact information
Q&A Company Information Tecogen, Inc 45 First Ave Waltham, MA 02451 www.Tecogen.com Contact information Benjamin Locke, CEO 781.466.6402 Benjamin.Locke@Tecogen.com 14