TMG:CC - Thermal Energy International Provides Spring Business Update
(TheNewswire)
OTTAWA, ONTARIO – TheNewswire - March 29 , 2022 – Thermal Energy International Inc. (“ Thermal Energy or the “Company”) (TSXV: TMG ) (OTC:TMGEF), a cleantech company and globalprovider of innovative and proprietary industrial carbon emissionsreduction solutions to some of the world’s largest companies, hasshared a spring business update onwww.thermalenergy.com.
In this business update CEO William Crosslandhighlights some of Thermal Energy’s core strategic initiatives andprovides updates on notable activities, orders, the market and TEI’scompetitive position, including:
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Continued positive market changes
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Custom equipment continues to thrive – order intake 43% greater thanpre-Covid levels
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Record levels of paid turn-key Project Development Agreements(“PDAs”) - double the F2019 pre-covid levels
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Secured first PDA for an Energy as a Service (“ EaaS”) project from one of our best and largest corporatecustomers
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Repeat order levels from our multinational customers remain high at70-80%
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Membership of global coalition of large thermal energyusers that represent approximately $1.3 trillion in marketcapital
This spring business update is available on the company’s website here.
Readers are encouraged to subscribe to TEI News toreceive strategic news and updates directly to their inbox.
ENDS
For media enquiriescontact:
Thermal Energy International Inc.
Canada: 613-723-6776
UK: +44 (0)117 917 217
Marketing@thermalenergy.com
For investor enquiries:
Thermal Energy International Inc.
613-723-6776
Investors@thermalenergy.com
About Thermal EnergyInternational Inc.
Thermal Energy International Inc., ranked as one of Canada’s Top GrowingCompanies in 2020 and 2019, is anestablished global supplier of proprietary, proven energy efficiencyand emissions reduction solutions to the industrial and institutionalsectors. We save our customers money and improve their bottom line byreducing their fuel use and cutting their carbon emissions. Ourcustomers include many Fortune 500 and other leading multinationalcompanies across a wide range of industry sectors.
Thermal Energy is a fully accredited professionalengineering firm, and by providing a unique mix of proprietary products together with process, energy, andenvironmental engineering expertise, we can deliver unique turn-keyprojects with significant financial and environmental benefits for ourcustomers.
Thermal Energy's proprietary products include: GEM ™ - Steam Traps, FLU-ACE ® - Direct contact condensing heatrecovery, HEATSPONGE – Indirect contact condensing heatrecovery systems, and DRY-REX ™ - Low temperature biomass dryingsystems.
Thermal Energy has engineering offices in Ottawa,Canada, Pittsburgh, USA, as well as Bristol, UK, with sales offices inCanada, UK, USA, Germany, Poland, Italy, and China. TEI’s commonshares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG and the OTCQB® Venture Market(“OTCQB”) in the United States operated by the OTC Markets GroupInc., under the symbol TMGEF .
For more information, visit our website at www.thermalenergy.com and follow us on Twitter at .
Cautionary Statements
This press release contains forward-looking statementsrelating to, and amongst other things, based on management’sexpectations, estimates and projections, the anticipated effectivenessof the Company’s products and services and the timing of revenues tobe received by the Company. For example, information as to theexpected benefits to Thermal Energy International and its customersfrom the new facility are forward looking statements. These statementsare not guarantees of future performance and involve a number ofrisks, uncertainties and assumptions. Many factors, some of which areoutside of the Company’s control, could cause events and results todiffer materially from those stated. The Company disclaims anyobligation to publicly update or revise any such statements except asrequired by law.
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
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