OTTAWA, ONTARIO – April 7, 2021 – Thermal Energy International Inc. (“
Thermal Energy” or the “Company”) (TSX-V:
TMG), together with its wholly owned subsidiary,
Boilerroom Equipment Inc. (“BEI”), has expanded to a larger administrative, manufacturing, and distribution centre in Cheswick, PA.
Thermal Energy engineers, manufactures, and distributes products to customers all over the world from sites in Canada, the United States, and Europe. This new facility will add more strategic US capacity as well as global flexibility to the Company’s existing robust in-house and outsourced manufacturing capabilities.
The new location features approximately 25,000 square feet of warehouse and manufacturing space, plus additional office space for a growing team of US-based engineers. With convenient access to the airport and major western Pennsylvania highways, and a location only ten miles northeast of downtown Pittsburgh, PA, the new site will enable improved product shipping efficiency and world-wide distribution.
“For the last eight years, BEI has manufactured the boiler industry’s most advanced boiler economizers from a small site in Export, PA. Being limited to under 10,000 square feet at the old plant restrained our growth. Expanding to 25,000 square feet will allow us to not only facilitate BEI’s own growth, but also serve a greater Thermal Energy, by enabling the potential for the vertical integration of FLU-ACE® assembly and GEM™ Steam Trap manufacturing, and distribution in North America," said
Vince Sands, BEI Founder & President.
“This signifies the next step of integration of BEI into Thermal Energy, and paves the way for increased fabrication volumes and more flexible stocking, as well as providing a US base capable of quickly adapting to continued Thermal Energy growth, with expedited service and delivery to the US market and beyond,” said
William Crossland, CEO of Thermal Energy.
For media enquiries contact:Devin Crockett or Liz FisherMarketing ManagerThermal Energy International Inc.Canada: 613-723-6776UK: +44 (0)117 917 217
Marketing@thermalenergy.comFor investor enquiries:William CrosslandPresident and CEOThermal Energy International Inc.613-723-6776Investors@thermalenergy.comAbout Thermal Energy International Inc.
Thermal Energy International Inc., ranked as one of Canada’s Top Growing Companies in 2020 and 2019, is an established global supplier of proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors. We save our customers money and improve their bottom line by reducing their fuel use and cutting their carbon emissions. Our customers include many Fortune 500 and other leading multinational companies across a wide range of industry sectors.Thermal Energy is a fully accredited professional engineering firm, and by providing a unique mix of proprietary products together with process, energy, and environmental engineering expertise, we can deliver unique turnkey projects with significant financial and environmental benefits for our customers.Thermal Energy's proprietary products include: GEM™ - Steam Traps, FLU-ACE® - Direct contact condensing heat recovery, HEATSPONGE – Indirect contact condensing heat recovery systems, and DRY-REX™ - Low temperature biomass drying systems.Thermal Energy has engineering offices in Ottawa, Canada, Pittsburgh, USA, as well as Bristol, UK, with sales offices in Canada, UK, USA, Germany, Poland, Italy, and China. TEI’s common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG.For more information, visit our website at www.thermalenergy.com and follow us on Twitter at twitter.com/GoThermalEnergy.Cautionary Statements
This press release contains forward-looking statements relating to, and amongst other things, based on management’s expectations, estimates and projections, the anticipated effectiveness of the Company’s products and services and the timing of revenues to be received by the Company. For example, information as to the expected benefits to Thermal Energy International and its customers from the new facility are forward looking statements. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, some of which are outside of the Company’s control, could cause events and results to differ materially from those stated. The Company disclaims any obligation to publicly update or revise any such statements except as required by law.
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.
