Slide 1: Q3 2022 Earnings Call
OTCQX: TGEN Q3 2022 EARNINGS CALL NOVEMBER 10, 2022 1
Slide 2: Management
MANAGEMENT Benjamin Locke - CEO Abinand Rangesh – CFO & Treasurer Robert Panora – COO & President 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: Agenda
AGENDA Tecogen Overview 3Q 2022 Results Earnings Takeaways Company Update Q&A 4
Slide 5: Providing resiliency and energy savings with a cleaner environmental footprint
Units Shipped Providing resiliency and energy savings with a cleaner environmental footprint 5
Slide 6: Power Generation + Resiliency
POWER LOW CARBON GENERATION + INDOOR RESILIENCY AGRICULTURE Modular microgrids for Boosting plant growth with CO 2 energy savings, exhaust recycling and our greenhouse gas (GHG) Ultera® Emissions system reductions and resiliency to grid outages CLEAN COOLING Chillers with lower operating cost and lo
Slide 7: Revenue Segments
REVENUE SEGMENTS PRODUCT SALES SERVICES Sales of combined heat and We service most purchased power, and clean cooling Tecogen equipment in operation systems to building owners. through long term maintenance Key market segments include agreements through 11 service multifamily residential, health CLE
Slide 8: 3Q 2022 Results
3Q 2022 RESULTS Highlights $ in thousands 3Q' 22 3Q' 21 Change % • Net loss of $-0.01/share Q3 Revenue 2022 Products $ 3,207 $ 1,871 $ 1,335 Service 3,079 2,830 248 • Net loss $257k Energy Production 333 315 17 • Cash and equivalents balance Total Revenue 6,618 5,016 1,602 31.9% of $2.9 million Gros
Slide 9: 3Q 2022 Adjusted EBITDA Reconciliation
3Q 2022 ADJUSTED EBITDA RECONCILIATION Quarter Ended, Sept 30 EBITDA: Earnings Before Interest, Taxes, Non-GAAP financial disclosure (in thousands) 2022 2021 Depreciation & Amortization Net income (loss) attributable to Tecogen Inc. $ (257) $ 1,467 Interest expense, net 2 9 EBITDA and adjusted EBITD
Slide 10: 3Q 22 Performance by Segment
3Q 22 PERFORMANCE BY SEGMENT ($ thousands) 3Q' 2022 3Q' 2021 Change % Revenues Cogeneration $ 1,548 $ 1,446 7% Chiller 1,642 383 329% Product Revenue increased 71% QoQ Engineered accessories 16 42 -61% • 329% gain in chiller revenues Total Product Revenues 3,207 1,871 71% Service Contracts 3,079 2,7
Slide 11: 3Q'22 Earnings Takeaways
3Q’ 22 EARNINGS TAKEAWAYS Q3 Revenues up 32% over Q3 2021 Backlog by Customer Type • 3Q Product Revenue $3.2 mm – 71% increase vs. 3Q-21 Healthcare Multi-Family 2% Residential • Price increases ongoing to address higher manufacturing 26% costs Other • Continued progress in controlled environment agr
Slide 12: Enabling Low Carbon Agriculture
ENABLING LOW CARBON AGRICULTURE Electricity & Cooling Hot water for cleaning, heating, and humidity control CO2 to boost plant growth Using smart computer CEA Benefits: algorithms, our ✓ 90% less land and water Cogeneration + Hybrid usage drive chiller will blend utility ✓ Avoids the use of fertiliz
Slide 13: Compared to the Alternatives
COMPARED TO THE ALTERNATIVES Indoor Agriculture with Outdoor Agriculture Grow lights Energy Intensity High Net Zero Target Low Embedded CO2 due to Low Low High Transportation Off-Grid Operation No Yes No Crop Cycles Per year >15 >15 1 to 2 Water Usage Low Low High
Slide 14: NetZero Greens Development Plan
NetZero Greens DEVELOPMENT PLAN Real Time Optimization ✓ Phase 1 – Prototype energy solution and due diligence for pilot grow facility ✓ Phase 2 – Partnership with growers and financiers ✓ Phase 3 – Replicate and scale for commercial operations
Slide 15: Pathway to Growth
PATHWAY TO GROWTH New Business Unit Established Focused on Controlled Environment Agriculture (CEA) markets Clean Microgrids using CHP in combination with other energy technologies including solar and battery Tecochill Hybrid Drive Air-Cooled Chiller to be launched at AHR in Feb 2023. This addresses
Slide 16: Q&A Company 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 16