OTTAWA, May 10 /CNW/ - Thermal Energy International Inc. (TSXV: TMG) (www.thermalenergy.com) (the "Company") today announced that it has granted options to
purchase 1,000,000 common shares of the Company to officers of the
Company. The stock options were granted pursuant to the terms of the
Company's stock option plan, are exercisable at $0.10 per share and
have a five year term. One third of the options will vest with the
optionee on each of May 10, 2012, 2013 and 2014. These grants were made
to staff in recognition of the contribution they made to the Company's
performance during the fiscal year ending May 31, 2010 and represent
the only incentive compensation paid relating to such fiscal
period. Stock option grants are subject to necessary regulatory
About Thermal Energy International Inc.
Thermal Energy International Inc. is an innovative cleantech company
providing a variety of proprietary and proven energy efficiency,
emission reduction, water efficiency, and bioenergy products and
solutions to the industrial, commercial and institutional markets
worldwide. Thermal Energy is also a fully accredited professional
engineering firm, and can offer advanced process and applications
engineering services. By providing a unique mix of proprietary products
together with process, energy, environmental, and financial expertise,
Thermal Energy is able to deliver significant financial and
environmental benefits to our customers. Thermal Energy's products
include: GEM® - Steam traps and condensate return systems, FLU-ACE® - Direct contact condensing heat recovery, and Dry Rex™ - Low temperature biomass drying systems. These award winning products
have an excellent track record of longevity, proven reliability and
performance and have been shown to provide significant energy savings,
reduced GHG emissions, improved water efficiency, lower maintenance
costs, improved product quality and increased production
efficiency. Thermal Energy International Inc. has offices in Ottawa,
Canada, Bristol, UK and Guangzhou, China.
To find out more about Thermal Energy International Inc. (TSX-V: TMG),
visit our website at http://www.thermalenergy.com.
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(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Thermal Energy International Inc.
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Thermal Energy International Inc.