TMG:CC - Thermal Energy Announces Second RBT(R) Wastewater Heat Recovery System for a Leading Textile Manufacturer
(TheNewswire)
Further expanding its capabilities toinclude heat recovery from both air and water, and new buildconstruction
OTTAWA, ONTARIO – TheNewswire - December 12, 2022 – Thermal Energy International Inc.(“ ThermalEnergy ” or the “Company”)(TSXV: TMG ) , ( OTC: TMGEF ), a provider ofinnovative energy efficiency and carbon emission reduction solutionsto major corporations around the world, has received a $330,000 orderto deliver a second RBT ® wastewater heat recovery system at anewbuild facility for a leading textile manufacturer.
With this order, Thermal Energy will have deliveredapproximately $1.3 million in energy efficiencyand carbon emission reduction solutions for this industryleader across multiple sites in Africa and South Asia .
The relationship with this customer began just before the pandemic inlate 2019 with GEM™ steam trap projects at twoof their sites. As world travel reopened fully in 2022, a major equipmentorder was announced for this customerthat was not only the first Sofame system designed, engineered, andsold independently by Thermal Energy since the acquisition of Sofamein July 2021, but expanded Thermal Energy’s offerings toinclude heat recovery from both air and water. T his waslater succeeded by a further order of GEM™ steamtraps .
This recent order valued at over $330,000 covers the engineering, manufacturing, installation and training of a second RBT® wastewater heat recovery system at a newbuild facility. The RBT® system captures heat from wastewater anduses it to heat incoming water which is expected to produce savings of approximately $349,000 per year, less thana one-year payback.
Fashion-conscious consumers favour sustainable and socially consciousbrands, forcing fashion retailers and textile manufacturers to focustheir efforts on sustainability in order to retain competitiveadvantages in the fashion retail space. That was certainly true forthis customer, who has placed sustainability at the forefront of itsoperations, so it was imperative they find the right supplier.
“Our ongoing relationship with this customerhas only been possible through our extensive suite of technologies. Wehave been able to support this customer at existing sites, with newequipment and now the integration of our technology during the buildof their brand-new facility, rather than as a retrofit as wouldusually be the case. This is why we’re trusted byworld-leading organizations to provide the right solutions with thebest return on investment for all types of manufacturing processes.Consistently being able to deliver reliable energy savings and carbonreduction solutions for our customers is why they return to us timeand time again” said William Crossland, Thermal Energy CEO.
The project is expected to be completed and revenue earned within ninemonths.
ENDS
For media enquiries contact:
Thermal Energy International Inc.
Canada: 613-723-6776
Marketing@thermalenergy.com
For investor enquiries:
Thermal Energy International Inc.
613-723-6776
Investors@thermalenergy.com
Notes to editors
About Thermal Energy InternationalInc.
Thermal Energy International Inc., ranked as one of Canada’s TopGrowing Companies in 2021, 2020 and 2019, is an established globalsupplier of proprietary, proven energy efficiency and emissionsreduction solutions to the industrial and institutional sectors. Wesave our customers money and improve their bottom line by reducingtheir fuel use and cutting their carbon emissions. Our customersinclude many Fortune 500 and other leading multinational companiesacross a wide range of industry sectors.
Thermal Energy is a fully accredited professional engineering firm,and by providing a unique mix of proprietary products together withprocess, energy, and environmental engineering expertise, we candeliver unique turn-key energy and carbon emission reduction projectswith significant financial and environmental benefits for ourcustomers.
Thermal Energy's proprietary products include GEM™ - Steam Traps,FLU-ACE® - Direct contact condensing heat recovery, HEATSPONGE –Indirect contact condensing heat recovery systems, and DRY-REX™ -Low-temperature biomass drying systems.
Thermal Energy has engineering offices in Ottawa, Canada, Pittsburgh,USA, as well as Bristol, UK, with sales offices in Canada, UK, USA,Germany, Poland, Italy, and China. TEI’s common shares are traded onthe TSX Venture Exchange (TSX-V) under the symbol TMG and the OTCQB®Venture Market (“OTCQB”) in the United States operated by the OTCMarkets Group Inc., under the symbol TMGEF.
For more information, visit our website at www.thermalenergy.com , ourinvestor website at investors-thermalenergy.com, or follow us onTwitter
Cautionary Statements
This press release contains forward-looking statements relating to,and amongst other things, based on management’s expectations,estimates, and projections, the anticipated effectiveness of theCompany’s products and services, the timing of revenues to bereceived by the Company, the anticipated effects of COVID-19 on thebusiness, backlog, and revenue, and the expectation that orders inbacklog will become revenue.
Information as to the amount of heat recovered, energy savings, andpayback period associated with Thermal Energy International’sproducts are based on the Company’s own testing and average customerresults to date. Statements relating to the expected installation andrevenue recognition for projects, statements about the anticipatedeffectiveness and lifespan of the Company’s products, statementsabout the expected environmental effects and cost savings associatedwith the Company’s products, and statements about the Company’sability to cross-sell its products and sell to more sites areforward-looking statements. These statements are not guarantees offuture performance and involve several risks, uncertainties, andassumptions. Many factors, some of which are outside of theCompany’s control, could cause events and results to differmaterially from those stated. Fulfillment of orders, installation ofproducts, and activation of products could all be delayed for severalreasons, some of which are outside of the Company’s control, whichwould result in anticipated revenues from such projects being delayedor in the most serious cases eliminated. Actions taken by theCompany’s customers and factors inherent in the customer’sfacilities but not anticipated by the Company can have a negativeimpact on the expected effectiveness and lifespan of the Company’sproducts and on the expected environmental effects and cost savingsexpected from the Company’s products. Any customer’s willingnessto purchase additional products from the Company and whether orders inthe Company’s backlog as described above will turn into revenue isdependent on many factors, some of which are outside of theCompany’s control, including but not limited to the customer’sperceived needs and the continuing financial viability of thecustomer. The Company disclaims any obligation to publicly update orrevise any such statements except as required by law. Readers arereferred to the risk factors associated with the Company’s businessas described in the Company’s most recent Management’s Discussionand Analysis available at www.SEDAR.com .
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accept responsibility for the adequacy oraccuracy of this release.
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