OTTAWA, ONTARIO – April 1, 2019 – Thermal Energy International Inc. (“Thermal Energy” or the “Company”) (TSX-V: TMG), an innovative cleantech company providing energy efficiency and emissions reduction solutions to companies worldwide, has received an order from a leading tissue manufacturer for a heat recovery system at one of its flagship production plants.
The project, valued at $850,000, will include the deployment of Thermal Energy’s proprietary FLU-ACE® heat recovery technology, in a solution set to provide the site with natural gas savings of over $350,000 a year.
This is Thermal Energy’s first project with this top 10 global tissue producer. It comes as the Company continues to strategically focus on vertical markets where the roles of efficiency and sustainability have a significant impact. Thermal Energy has installed equipment at over 20 sites within the pulp and paper industry, with solutions leveraging a number of its products including both FLU-ACE® and GEMTM steam trap technologies.
Upon commissioning, the system will recover heat to displace steam currently used to heat process water required during production. The initiative will reduce carbon emissions by over 2,700 tonnes annually, the energy saving equivalent to permanently removing more than 570 cars from the road.
“This project is another example of our ability to solve energy efficiency challenges faced across a number of key sectors. With up to 50% of industrial energy consumption lost as waste heat due to inefficiency, technology that decreases a facility's energy demand delivers both a reduction in emissions and a monetary saving – a compelling business case the world over.” Said William Crossland, CEO of Thermal Energy.
“The pulp and paper sector is one of a number of industries we’re directly working with to achieve commercially-viable sustainability through energy efficiency, with applications suited to our full range of technologies including, FLU-ACE®, GEMTM, HEATSPONGE and DRY-REXTM.”
The scope of this order covers the design, equipment supply, commissioning and training for the system. It is expected to be completed and revenue earned within nine months
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For media enquiries contact:
Marketing@thermalenergy.comFor investor enquiries:Investors@thermalenergy.comAbout Thermal Energy International Inc.
Thermal Energy International Inc. is an established global supplier of proprietary, proven energy efficiency and emissions reduction solutions to the industrial, institutional and commercial sectors. We save our customers money and improve their bottom line by reducing their fuel use and cutting their carbon emissions. Our customers include a large number of Fortune 500 and other leading multinational companies across a wide range of industry sectors.
Thermal Energy is also a fully accredited professional engineering firm and by providing a unique mix of proprietary products together with process, energy and, environmental engineering expertise, Thermal Energy is able to deliver unique turnkey projects with significant financial and environmental benefits for our customers.
Thermal Energy's proprietary products include; GEMTM - Steam Traps, FLU-ACE® - Direct contact condensing heat recovery, HEATSPONGE – Indirect contact condensing heat recovery systems, and DRY-REXTM - Low-temperature biomass drying systems.
Thermal Energy has engineering offices in Ottawa, Canada, Pittsburgh, USA, as well as Bristol, U.K., 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.
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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