Steam technology project to serve as GEM(R) demonstration site for
OTTAWA, Nov. 1 /CNW Telbec/ - Thermal Energy International Inc.
(TSX-V: TMG) (www.thermalenergy.com) is pleased to announce it has received a
second order for GEM(R) steam traps in China at a location intended to be used
as a demonstration site for the country's chemical industry.
The Jiangsu Huachang Chemical Co., (Huachang) is installing an initial
order of 39 GEM(R) steam traps at its largest plant, a 150-hectare production
site built in Yangtze River International Chemical Industry Park. The traps
are being installed on a major part of the steam distribution system used in
the production of more than 3.6 million tons of chemical based products a
year. The project is expected to have a simple payback of six months or less
in terms of the cost of steam production and improved productivity.
Huachang Chemical is one of the 100 largest chemical producers in China
and already leads the industry in terms of unit energy consumption for
production. The company's energy efficiency measures are promoted
industry-wide by China's Ministry of Chemical Industry.
The order was secured by Jiangnan Boilers and Pressure Vessels Company,
Ltd., (JBPV) in advance of the completion of the joint venture agreement
currently under development between Thermal Energy and JBPV as per the
Memorandum of Understanding announced on June 17, 2007. Both JBPV and Huachang
are core companies under the Jiangsu Huachang (Group) Co., Ltd.
(www.huachanggroup.com) a multi-billion dollar, national large scale chemical
enterprise group comprising 19 large businesses under its umbrella.
Both JBPV and Huachang Chemical intend to use the installation as a
demonstration site to sell the GEM(R) Condensate Return System across China's
"We are very pleased by the enthusiasm demonstrated by JBPV in securing
this order in advance of the completion of our joint venture agreement," said
Thermal Energy President and CEO Tim Angus. "We look forward to capitalizing
on this opportunity to work with JBPV on deploying our energy saving solutions
throughout China's energy intensive chemical sector and other industries."
China represents a multi-billion dollar market for condensate return
systems in all industrial sectors and is the fastest growing steam systems
market in the world with high failure rates in many existing traditional steam
The GEM(R) Condensate Return System is the first major advancement in
steam trap technology in over 100 years. With no moving parts, the traps are
offered with an unprecedented 10-year, no-fail guarantee and offer up to 50%
savings in the cost of steam production over traditional steam traps, through
reduced leakage and maintenance.
About Thermal Energy
Thermal Energy International Inc. is an innovative technology company
providing custom energy and emission reduction solutions. Headquartered in
Ottawa, Canada, TEI is a designer, design build developer, fabricator, and
supplier of proprietary and patented energy conservation, renewable energy and
environmental technology solutions. Thermal Energy is a fully accredited
professional engineering firm, and offers advanced process and applications
engineering services. FLU-ACE(R), THERMALONOx(TM), THERMALOZOMAx(TM) and
Dry-Rex(TM) are trademarks of Thermal Energy International. GEM(R) is a
trademark used under exclusive license from Gardner Energy Management Ltd.
For more about Thermal Energy International Inc. (TSX-V: TMG), visit our
website at www.thermalenergy.com.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
For further information: Stuart McCarthy, Thermal Energy International
Inc., Investor Relations and Communications, (613) 723-6776 x 220,