10:06:06 EST Wed 14 Nov 2018
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Thermal Energy International Inc
Symbol C : TMG
Shares Issued 159,088,949
Close 2018-07-12 C$ 0.085
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Thermal Energy to appoint Zhang CFO

2018-07-12 16:45 ET - News Release

Mr. William Crossland reports

THERMAL ENERGY ANNOUNCES APPOINTMENT OF JULIA ZHANG AS CFO

Thermal Energy International Inc. will appoint Jie (Julia) Zhang as chief financial officer of the company, effective July 31, 2018. Ms. Zhang will replace Julia Flynn who will step down as chief financial officer, effective the same date.

Ms. Zhang, a certified public accountant (CPA) and chartered accountant (CA) with 14 years of financial management and reporting experience, rejoins the company having previously held the position of financial controller from 2012 to 2016. She has a bachelor of arts, international relations and affairs, from Peking University and a bachelor of commerce, accounting, from the University of Ottawa. She has spent the last two years with two different publicly traded companies, an environmental engineering consultancy and a large multinational telecommunications business.

Ms. Zhang will take over from Ms. Flynn, who, over an 11-year career with the company, grew her role from financial controller to become chief financial officer in 2009. In 2008, Ms. Flynn was instrumental in the successful integration of Gardner Energy Management, a privately owned United Kingdom-based company, with Thermal Energy. More recently, she played a key part in the company's acquisition of Boilerroom Equipment Inc. After more than a decade at Thermal Energy's U.K. office in Bristol, Ms. Flynn has decided to relocate to the British South Coast to pursue new challenges.

William Crossland, chief executive officer of Thermal Energy, commented: "We are delighted to welcome Ms. Zhang back to Thermal Energy. The experience she has gained is set to benefit the business as we continue to grow as a company.

"The management, staff and board of directors of Thermal Energy would like to sincerely thank Ms. Flynn for her dedicated support and significant contribution to the company's achievements to date. During her time with Thermal Energy, she has provided exceptional financial guidance and control which has given the company a strong base from which to grow. Under her financial leadership we have added significantly to our product offering, capabilities and geographic scope, and now have operations and employees in six countries. We wish her the best of luck in her future endeavours."

Officer appointments are subject to approval by the TSX Venture Exchange.

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. The company saves its customers money and improves their bottom line by reducing their fuel use and cutting their carbon emissions.

We seek Safe Harbor.

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