Effective March 29, 2021, Ms. Deanna M. Petersen resigned as a director of Tecogen Inc. in order to focus on other professional commitments. Ms. Petersen served as the chair of the board of directors' Audit Committee and as a member of its Nominating and Corporate Governance Committee. In order to have continuing access to Ms. Petersen following her resignation as a director, the Company, for nominal compensation, entered into a consulting agreement with Ms. Petersen that enables the Company's board of directors and senior management to consult with Ms. Petersen. The consulting agreement is for a term of one year and may be renewed for additional terms. Effective March 29, 2021, the board of directors of the Company elected Mr. Ralph Jenkins, age 65, as a director of the Company to fill the vacancy on the board of directors created by the resignation of Ms. Petersen. r. Jenkins is a retired partner at Ernst & Young LLP where he provided accounting related services for a diversified client base for 36 years until February 2016 from offices in Boston, Massachusetts and in Manchester, New Hampshire where he served as Office Managing Partner for five years. Effective March 29, 2021, the board of directors of the Company appointed Mr. Roger Deschenes as the Company's Chief Accounting Officer and Treasurer to replace Mr. Benjamin Locke as the Company's principal financial officer. Mr. Deschenes will hold such positions until his resignation, death, or removal.
Tecogen Inc. designs, manufactures, markets, and maintains ultra-clean cogeneration products. The Company includes natural gas engine-driven combined heat and power (CHP) systems, chillers, and heat pumps for multi-family residential, commercial, recreational, and industrial use. The Company operates through three segments: Products, Services, and Energy Production. The Products segment designs, manufactures and sells industrial and commercial cogeneration systems. The Services segment provides operations and maintenance services and turn-key installation for its products under long-term service contracts. The Energy Production segment, which installs, operates, and maintains distributed generation electricity systems that it owns and sells energy generated by such systems in the form of electricity, heat, hot water, and cooling to its customers under long-term energy sales agreements. The Company's products are sold with its patented Ultera emissions technology.
TECOGEN INC. 