Thermal Energy International to Present at Clean/Renewable Energy Virtual Investor Conference February 22nd

OTTAWA, ONTARIO, February 20, 2024 --  Thermal Energy International Inc. (“Thermal Energy” or the “Company”) (TSX-V: TMG, OTCQB: TMGEF), a provider of innovative energy efficiency and carbon emission reduction solutions to major corporations around the world, today announced that William Crossland, President and CEO, will present at the Clean/Renewable Energy Virtual Investor Conference, hosted by VirtualInvestorConferences.com, on February 22.

DATE: February 22^nd, 2024

TIME: 10:00 AM ET

LINK: bit.ly/42r130S

The CEO, William Crossland, will also be available for 1x1 meetings.

This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates.

Learn more about the event at www.virtualinvestorconferences.com.

Recent Company Highlights:

• Reported 71% revenue growth and strong improvements in profitability in fiscal 2024 second quarter ended November 30, 2023;
• Trailing four quarters revenue, gross profit, and net income were highest on record;
• Fiscal 2024 year-to-date order intake and order backlog[i] each exceeds fiscal 2023 full-year revenue of $21.1 million.

Investment Highlights:

• Energy efficiency is the fastest, cheapest, and easiest way to reduce carbon emissions
• Unique and proprietary solutions provide high ROI with short, compelling payback
• Significant repeat business from Fortune 500 and other large multinational customers
• Proven and profitable track record of growth
• Plan to continue growing organically and through accretive acquisitions

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About Thermal Energy

Thermal Energy International Inc. provides energy efficiency and emissions reduction solutions to Fortune 500 and other large multinational companies. We save our customers money by reducing their fuel use and cutting their carbon emissions. Thermal Energy’s proprietary and proven solutions can recover up to 80% of energy lost in typical boiler plant and steam system operations while delivering a high return on investment with a short, compelling payback.

Thermal Energy is a fully accredited professional engineering firm with engineering offices in Ottawa, Canada, Pittsburgh, USA, as well as Bristol, UK, with sales offices in Canada, UK, USA, Germany, Poland, and Italy. By providing a unique mix of proprietary products together with process, energy, and environmental engineering expertise, Thermal Energy can deliver unique, site-specific turnkey and custom engineered solutions with significant financial and environmental benefits for our customers.

Thermal Energy’s common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG and on the OTCQB under the symbol TMGEF. For more information, visit the Company’s investor website at https://investors-thermalenergy.com or company website at www.thermalenergy.com.

About Virtual Investor Conferences®

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access.  Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

CONTACTS:

Thermal Energy International

William Crossland

President and CEO

(613) 723-6776

Investors@thermalenergy.com

 Virtual Investor Conferences

John M. Viglotti

SVP Corporate Services, Investor Access

OTC Markets Group

(212) 220-2221

johnv@otcmarkets.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

[i] Order backlog represents any purchase orders that have been received by the Company but have not yet been reflected as revenue in the Company’s published financial statements.