07:09:18 EDT Fri 29 Mar 2024
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Thermal Energy International Inc
Symbol TMG
Shares Issued 161,885,616
Close 2019-04-01 C$ 0.075
Market Cap C$ 12,141,421
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Thermal Energy receives order for heat recovery system

2019-04-01 10:09 ET - News Release

Mr. William Crossland reports

THERMAL ENERGY SECURES LANDMARK PROJECT WITH TOP 10 GLOBAL TISSUE COMPANY

Thermal Energy International Inc. 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 GEM 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 per cent 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, chief executive officer 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 application's suited to our full range of technologies, including FLU-ACE, GEM, Heatsponge and DRY-REX."

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.

About Thermal Energy International Inc.

Thermal Energy International is an established global supplier of proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors.

We seek Safe Harbor.

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