(TheNewswire)
Repeatable biogas application. First order fromRussia.
OTTAWA, ONTARIO – TheNewswire - April 15, 2021– Thermal Energy International Inc. (“ Thermal Energy ” or the “Company”) (TSXV: TMG ), (OTC: TMGEF ), an innovative cleantech company and global providerof energy efficiency and emissions reduction solutions, has announcedit has received its second heat recovery order from one of theworld’s largest brewers.
The order includes major equipment, engineering, and commissioning andis valued at over $500,000. Thermal Energy will design and deliver acustomized FLU-ACE ® system for thecustomer’s Russian production facility. The FLU-ACE ® will be integratedwith, and improve the efficiency of, the biogas generation systemalready present at the site.
The project is the second of its type for Thermal Energy in thesector, with the Company having previously supplied a similar FLU-ACE ® biogas applicationto another leading beer producer, announced August 7, 2019 .Over the last 24 months, the Company has secured heat recoveryprojects with three of the world’s top five brewers.
“This latest order demonstrates our ability to harness ourestablished network of customers by supplying and servicing theirsites around the world, while finding new methods of supporting theircarbon reduction initiatives with innovative repeatableapplications,” said William Crossland , CEO ofThermal Energy.
“With biogas generation, a standard process across many similarsites the world over, this application of our technology, especiallywithin this sector, holds great opportunity for our Company.
“It emphasizes our capacity to meet the individual needs of thecustomer and the site – whether they require a full turnkey solutionwith installation or purely the supply of a Major Equipment Package(MEP) including engineering and commissioning, such as this latestexample. This approach allows Thermal Energy to scale in newterritories, such as Russia, and to accelerate growth by flexiblyoffering either turnkey or MEP solutions based on our customers’implementation models and preferences.”
The project is expected to be completed and revenue earned within ninemonths.
ENDS
For media enquiries contact:
Devin Crockett or Liz Fisher
Marketing Manager
Thermal Energy International Inc.
Canada: 613-723-6776
UK: +44 (0)117 917 217 Marketing@thermalenergy.com
For investor enquiries:
William Crossland
President and CEO
Thermal Energy International Inc.
613-723-6776
About Thermal Energy InternationalInc.
Thermal Energy International Inc., ranked as one of Canada’s Top GrowingCompanies in 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 andby providing a unique mix of proprietary products together withprocess, energy, and environmental engineering expertise, we candeliver unique turnkey projects with significant financial andenvironmental benefits for our customers.
Thermal Energy's proprietary products include: GEM ™ - Steam Traps, FLU-ACE ® - Direct contactcondensing heat recovery, HEATSPONGE – Indirectcontact condensing heat recovery systems, and DRY-REX ™ - Low temperaturebiomass 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.
For more information, visit our website at www.thermalenergy.com and follow us on Twitter at twitter.com/GoThermalEnergy .
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 and the timing of revenues to bereceived by the Company. Information as to the amount of heatrecovered, energy savings and payback period associated with ThermalEnergy International’s products are based on the Company’s owntesting and average customer results to date. Statements relating tothe expected installation and revenue recognition for projects,statements about the anticipated effectiveness and lifespan of theCompany’s products, statements about the expected environmentaleffects and cost savings associated with the Company’s products andstatements about the Company’s ability to cross-sell its productsand sell to more sites are forward looking statements. Thesestatements are not guarantees of future performance and involve anumber of risks, uncertainties and assumptions. Many factors, some ofwhich are outside of the Company’s control, could cause events andresults to differ materially from those stated. Fulfilment of orders,installation of product and activation of product could all be delayedfor a number of reasons, some of which are outside of the Company’scontrol, which would result in anticipated revenues from such projectsbeing delayed or in the most serious cases eliminated. Actions takenby the Company’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 is dependent on manyfactors, some of which are outside of the Company’s control,including but not limited to the customer’s perceived needs and thecontinuing financial viability of the customer. The Company disclaimsany obligation to publicly update or revise any such statements exceptas required by law.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
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