Tecogen Inc.

Greetings and welcome to the TECOGEN second quarter 2022 results conference 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. With us today are Benjamin Locke, CEO, Abinan Rangesh, CFO and Treasurer, and Jack Whiting, General Counsel and Secretary. I'll now hand it over to Jack Whiting to begin. Please go ahead. Sir, you may be muted. Please go ahead.

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 investor's section of our website at tecagen.com for two weeks. The press release regarding our second quarter 2022 earnings and the presentation provided this morning are also available in the investor's section on 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 provision 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 in 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 SEC and available in the investor section of our website under the heading SEC Filings. While we may like 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 general 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 relating to our second quarter 2022 earnings. and in the investor section of our website. I'll now turn the call over to Benjamin Locke.

Thank you, Jack. As the agenda on slide four indicates, we'll start with a brief company overview, followed by a detailed review of our second quarter 2022 results. We will then discuss the key takeaways from earnings and 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 page on our website. During slide five, I'd like to provide a short overview of TicoGen's core businesses. TicoGen 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 for carbon reduction while also providing resiliency to grid outages. TicoGen has deployed thousands of these systems and we have a steady recurring revenue stream through our 11 service centers that provide long-term operations and maintenance services for T-cogen cogeneration and chiller systems. Turn to slide six. Many of our distributed generation systems operate as microgrids, as shown on the left here, with the ability to maintain operation during a grid outage. As the grid becomes increasingly burdened, congested, and costly, this microgrid feature provides relief from peak electric rates and resiliency to outages. In addition to our distributed generation systems, Keukogen offers industrial-scale chillers with lower operating costs and a reduced greenhouse gas footprint compared to traditional chillers. We have had particular success with our clean cooling products for use in controlled environment agriculture. These indoor grow operations use a tremendous amount of power to maintain precise growth conditions. Our chillers substantially reduce the amount of electric capacity needed to operate the facility, while simultaneously providing heat for the facility, heating, and dehumidification. And finally, on the right, our Altera emissions technology is recognized as a cost-effective solution for reducing CO2, NOx, and hydrocarbon emissions across a wide range of engine platforms and sizes. The Altera emission comes standard on all of our products, whether local regulations require them or not, and further reinforces the clean environmental footprint of our systems. Our clean emissions exhaust stream becomes relevant as it relates to controlled environment agriculture where properly controlled carbon dioxide injection can substantially increase crop yield. Slide 7 provides some relevant facts about our clean energy systems deployed to date. With over 3,000 units shipped, we've reduced CO2 emissions by more than 200,000 tons while generating more than 2.1 million kilowatt hours of electricity from over 52 million hours of run times. These numbers continue to increase as we deploy more of our clean energy systems, which is reflected in the continuous growth of our revenues from operations and maintenance services. Before I turn the call over to Abhinav for a detailed review of our second quarter numbers, I'd like to remind investors of our three main revenue streams shown on slide eight. Our product revenue consists of sales of cogeneration units, microgrid systems, and chillers to a range of markets and customers. Our service revenue primarily consists of our contracted operations and maintenance services with a small component of installation services. Our energy production revenue stream is from energy sales, including sales of electricity and thermal energy produced by our equipment onsite at customer facilities. With that, I'd like to turn the call over to Abna to review our numbers in more detail, and then I will have some additional comments on the takeaways for the quarter and comments about our expectations for the rest of 2022. Abna?