Mr. William Crossland reports

THERMAL ENERGY AWARDED FIRST HEAT RECOVERY PROJECT WITH MULTINATIONAL SNACK FOOD COMPANY

Thermal Energy International Inc. has been commissioned by a leading snack food manufacturer to install a heat recovery system that is designed to support its sustainability goals.

The custom-designed condensing project, valued at over $1.5-million, is the first of its kind to be developed with this multinational snack company. The technology will be installed on the site's process exhaust to recover heat that would otherwise have been wasted. This recaptured energy will displace the steam and gas currently used to heat process and cleaning water, as well as provide space heating for the facility itself.

Upon commissioning, the installation will provide an expected natural gas saving of almost $400,000 per year. The annual reduction in CO2 (carbon dioxide) emissions will be approximately 4,860 tonnes. This is the equivalent to removing 1,040 cars from the roads every year and is in line with a company-wide commitment to significantly reduce greenhouse gas emissions.

"This company is increasingly turning to us to assist them with their sustainability and carbon emission reduction goals, and this project is just one of a number of initiatives we are developing with this client involving a variety of our products, services and solutions," commented William Crossland, chief executive officer of Thermal Energy.

"With up to 50 per cent of industrial energy production lost as waste heat, the food and beverage sector represents an excellent global opportunity. The large amount of waste heat available and high energy requirement at these sites means we're able to help in various capacities with solutions that span our entire technology portfolio. As a result, this project is an excellent example of our organic growth strategy consistently being realized," concluded Mr. Crossland.

The scope of this order covers all design, construction, commissioning and training for the system. The project 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 and proven energy-efficiency, emission reduction and sustainability solutions to the industrial, commercial and institutional sectors. It saves its customers money and improves their bottom line by reducing fuel use and cutting carbon emissions.

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