Mr. William Crossland reports

THERMAL ENERGY ANNOUNCES $930 THOUSAND IN REPEAT BUSINESS FROM MULTINATIONAL CONSUMER GOODS COMPANY

Thermal Energy International Inc. has received a $930,000 GEM order from a multinational consumer product company for one of its European sites.

"Based on realized fuel savings and the carbon emissions reductions delivered to date by our GEM steam traps at this site and a number of the customer's other sites, the customer decided to convert more of this facility over to GEM," said William Crossland, chief executive officer of Thermal Energy International. "Extensive testing done across this customer's facilities indicate fuel savings from the GEM traps of approximately 10 per cent. As a result, this customer sees our GEM steam traps as an important component of their broader efforts to optimize energy use, and, since 2022, we have delivered more than $4-million worth of GEM projects with this customer, across nine of their production sites around the world. We look forward to continuing to expand our relationship with this customer, and we see additional opportunities at a number of their other production locations around the world."

The revenue from this order is expected to be earned within six months.

About Thermal Energy International Inc.

Thermal Energy International provides energy efficiency and emission reduction solutions to Fortune 500 and other large multinational companies. It saves its customers money by reducing their fuel use and cutting their carbon emissions. Thermal Energy's proprietary and proven solutions can recover up to 80 per cent of energy lost in typical boiler plant and steam system operations while delivering a high return on investment with a short, compelling payback.

Thermal Energy is a fully accredited professional engineering firm with engineering offices in Ottawa, Canada, and Pittsburgh, United States, as well as Bristol, United Kingdom, with sales offices in Canada, U.K., U.S., Germany, Poland and Italy. By providing a unique mix of proprietary products together with process, energy and environmental engineering expertise, Thermal Energy can deliver unique, site-specific turnkey and custom engineered solutions with significant financial and environmental benefits for its customers.

Thermal Energy's common shares are traded on the TSX Venture Exchange under the symbol TMG and on the OTCQB under the symbol TMGEF.

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