Tecogen Inc.

Greetings and welcome to the TECO Gen Third Quarter 2021 Earnings Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note that this conference is being recorded. On the call with us today, we have Benjamin Locke, CEO, Robert Panora, COO, and President, Abinan Rangesh, CFO, and Jack Whiting, General Counsel and Secretary. I will now turn the call over to Jack Whiting. Thank you.

Good morning. This is Jack Whiting, General Counsel and Secretary of TQGEN. Please note this call is being recorded and will be archived on the Investors section of our website at tqgen.com for two weeks. The press release regarding our third quarter 2021 earnings and the presentation provided this morning are available in the investors section of our website. I'd like to direct your attention to our safe harbor statement included in the earnings press release and presentation. Various remarks that we may make about the company's future expectations, plans, and prospects constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed and the company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q under the caption Risk Factors, which are on file with the Securities and Exchange Commission and available in the Investors section of our website under the heading SEC Filings. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. Therefore, you should not rely on any forward-looking statements as representing our views as of any date subsequent to today. During this call, we will refer to certain financial measures not prepared in accordance with generally accepted accounting principles or GAAP. Reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures is provided in the press release regarding our third quarter 2020 earnings and in the investor section of our website. I'll now turn the call over to Benjamin Locke.

Thank you, Jack. Before we get started, I wanted to just tell everyone, our investors and employees, for our veterans, thank you on Veterans Day, a very important day for all of you. So anyone on the call that's a veteran, we all appreciate your service. So starting off the agenda on slide four, we'll start with a brief company overview, followed by a detailed review of our third quarter results. We'll then discuss the key takeaways from earnings, then turn the call over to the operator for questions. As a reminder, this presentation will be available for download in the presentation section of our investor webpage. Turning to slide five, I'd like to provide a short overview of TECOGEN. TECOGEN sells and maintains clean and efficient energy systems that provide resiliency and energy savings to customers while reducing greenhouse gas emissions for a cleaner environmental footprint. Our solutions help industries and facilities reach their environmental goals while providing resiliency to grid outages. As seen on this map, TicoGen has deployed thousands of these systems, and we have a steady recurring revenue stream through our 11 service centers that provide maintenance to these customers. Turning to slide six, many of our distributed generation systems operate as microgrids with the ability to maintain operation during the grid outage. TicoGen ranked third in the 2019 study for the number of microgrid systems deployed in the United States, and our presence in the microgrid market has grown since the study was released. In addition to our distributed generation systems, TicoGen offers industrial-scale chillers with lower operating costs and reduced greenhouse gas footprint than traditional electric chillers. These systems are sought after for process cooling and in healthcare applications. And we've had particular success with our clean cooling products for use in controlled environment agriculture. These indoor grow operations use a tremendous amount of power in order to maintain ideal growth conditions. Our chillers substantially reduce the amount of electric capacity needed to operate these facilities, while simultaneously providing heat for facility dehumidification. As our earnings press release indicated, we currently have 13,000 tons of our clean chillers in controlled agriculture facilities. And lastly, our Altera emissions technology, as recognized as a cost-effective solution for reducing CO, NOx, and hydrocarbon emissions across a wide variety of engine platforms and sizes. Slide 11 provides some interesting facts about our clean energy systems that we've deployed so far. As I mentioned, with over 3,000 units shipped, we've saved over 200,000 tons of CO2, generated more than 2.1 billion kilowatt hours of electricity from over 52 million hours of runtime. These numbers, of course, continue to increase as we deploy more of our clean energy systems to customers. Before I turn the call over to Abhinav to review our third quarter results in more detail, I'd like to remind investors of our three main revenue streams shown on slide eight. Our product sales consist of sales of cogeneration units, microgrid systems, and chillers to a range of markets, including multi-unit residential buildings, hospitals, industrial processing, and indoor cultivation. Our services revenue primarily consists of our contracted maintenance and parts with a small component of installation services. And our third revenue stream is from energy sales, whereby we sell electricity and thermal energy produced by our equipment onsite to customer facilities. With that, I'd like to turn the call over to Abhinav to review our numbers in more detail, and then I will have some additional comments on takeaways for the quarter. Abhinav.