23:12:27 EDT Wed 22 May 2019
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Thermal Energy International Inc
Symbol C : TMG
Shares Issued 161,885,616
Close 2019-01-28 C$ 0.075
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Thermal to install Flu-Ace for food ingredient outfit

2019-01-29 08:52 ET - News Release

Mr. William Crossland reports


Thermal Energy International Inc. has been commissioned by a leading food ingredient company to install an innovative heat recovery system at one of its processing plants.

This Flu-Ace heat recovery project, valued at over $2.4-million, is the first time Thermal Energy will apply its proprietary heat recovery technology in this food and beverage subsector. The company has also had some early-stage success selling its high-efficiency GEM steam traps to companies in this subsector in both Europe and North America but this industry subsector represents significant potential for all of Thermal Energy's solutions including Flu-Ace, GEM, HeatSponge and Dry-Rex.

The project is expected to provide the site with a utility saving of over $614,000 per year.

The system is also set to decrease fuel usage by more than 15 per cent and reduce carbon emissions by over 5,200 tonnes annually. The energy saved is the equivalent to permanently removing more than 1,040 cars from the road.

Upon commissioning, the recovered heat will be used to displace steam currently heating water that is used within the production process. The scope of this order covers all design, construction, commissioning and training for the system.

"This is an exceptional project within a new and very large subsector. It presents great global potential for Thermal Energy with application s suited to our full range of technologies including, Flu-Ace, GEM, HeatSponge and Dry-Rex," said William Crossland, chief executive officer of Thermal Energy, "With this latest endorsement of our solutions we will now be looking to strategically approach other sites in the subsector to expand on this success."

The project is expected to be completed and revenue earned within nine months.

Thermal Energy International is an established global supplier of proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors. The company saves its customers money and improves their bottom line by reducing their fuel use and cutting their carbon emissions. The company's customers include a large number of Fortune 500 and other leading multinational companies across a wide range of industry sectors.

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