OTTAWA, ONTARIO – July 6, 2017 – Thermal Energy International Inc. (“Thermal Energy” or the “Company”) (TSX-V: TMG), a global provider of proprietary energy efficiency solutions to the industrial, commercial and institutional sectors, has received a $1.82 million order from a leading Fortune 500 food and beverage company for one of the Company’s proprietary FLU-ACE® heat recovery systems. The heat recovery system is expected to provide the customer with utility savings of $360 thousand per year, primarily in the form of natural gas savings. The FLU-ACE system will reduce the customer’s annual water usage by approximately 7.6 million litres and its carbon emissions by 2,300 tonnes. The project is expected to be completed and revenue earned over the next six to nine months. All figures are in Canadian dollars.
The project, valued at approximately $920,000, will be installed at a canning and pouch packaging facility in the UK. At the heart of the system will be Thermal Energy’s proprietary direct contact heat recovery technology,
FLU-ACE
®
. This unit will draw flue gases from three boiler exhausts and recover waste energy from a Combined Heat and Power (CHP) heating jacket. The recaptured energy will then preheat process water required during the cooking, canning, and sterilization processes, and heat boiler make up water used to create steam.
Once commissioned, the system is expected to deliver an annual fuel saving of $383,300 and reduce the site’s carbon emissions by 2,868 tonnes a year – helping to support the Group’s company-wide targets.
“We’ve worked with this customer for a number of years, having previously installed our high efficiency, low maintenance GEM™ steam traps at various European sites.”
said
William Crossland
, CEO of Thermal Energy.
“This will be the first time we have partnered with the Group to deliver efficiency gains using heat recovery. We are already investigating the installation of a second heat recovery system at one the food and beverage Group’s other European facilities.”
“This project is particularly exciting as the FLU-ACE® unit is integrating with the site CHP. As many facilities turn to cogeneration (or CHP) to increase efficiency, heat recovery can be used to help take an already efficient system from between 60 to 80% into the high 90s, maximizing ROI for the customer. It is applicable across industries and will be an area of focus we continue to develop as a company.”
“As well as providing fuel savings, this system is designed to reduce emissions, both through pollution prevention (by reducing fuel use) and pollution control (through end of pipe control). This in an area of increasing importance to our customers, particularly among sites located near or within urban areas, such as hospitals, or where legislation is in place. Due to our proprietary technologies we are uniquely positioned to assist in preventing harmful emissions such as particulate matter, NOX, and acid gasses (SO2) entering the atmosphere.”
“As a result of the heat recovery unit installation, we estimate that the end-of-pipe particulate matter will be reduced by 50% to 90%, and NOX emissions will be reduced according to the reduction in fuel use, by approximately 15%.”
The project is expected to be completed and revenue earned within nine months.
For media enquiries contact:
Thermal Energy International Inc.
Canada: 613-723-6776
UK: +44 (0)117 917 217
Marketing@thermalenergy.com
For investor enquiries:
William Crossland
President and CEO
Thermal Energy International Inc.
613-723-6776
Investors@thermalenergy.com
About 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. Information as to the amount of heat recovered, energy savings and payback period associated with Thermal Energy International’s products are based on the Company’s own testing and average customer results to date. Statements relating to the expected installation and revenue recognition for projects, statements about the anticipated effectiveness and lifespan of the Company’s products, statements about the expected environmental effects and cost savings associated with the Company’s products and statements about the Company’s ability to cross-sell its products and sell to more sites 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. Fulfilment of orders, installation of product and activation of product could all be delayed for a number of reasons, some of which are outside of the Company’s control, which would result in anticipated revenues from such projects being delayed or in the most serious cases eliminated. Actions taken by the Company’s customers and factors inherent in the customer’s facilities but not anticipated by the Company can have a negative impact on the expected effectiveness and lifespan of the Company’s products and on the expected environmental effects and cost savings expected from the Company’s products. Any customer’s willingness to purchase additional products from the Company is dependent on many factors, some of which are outside of the Company’s control, including but not limited to the customer’s perceived needs and the continuing financial viability of the customer. 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.