Thermal Energy announces cancellation of 2,700,000 common shares

OTTAWA, March 15 /CNW Telbec/ - Thermal Energy International Inc. (TSX-V:TMG) (www.thermalenergy.com) (the "Company") announced today that between February 23, 2010 and March 4, 2010 the Company cancelled 2,700,000 common shares. As part of its ongoing review of the Company's affairs, the TSX Venture Exchange identified certain deficiencies in the consideration received by the Company for the issuance of such shares. As a result, the Company worked with the holders of such shares to arrange for their cancellation. All of the cancelled shares were originally issued on various dates in 2008.

About Thermal Energy

Thermal Energy International Inc. is an innovative technology company providing custom energy and emission reduction, and bioenergy solutions. Headquartered in Ottawa, Canada, TEI is a designer, design build developer, fabricator, owner, operator 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(TM), DRY-REX(TM), THERMALONOx(TM), THERMAL AUD(TM) and GEM(R) are trademarks of Thermal Energy International.

To find out more about Thermal Energy International Inc. (TSX-V: TMG), visit our website at http://www.thermalenergy.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (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.

For further information: For further information: William Crossland, Thermal Energy International Inc., (613) 723-6776, bill.crossland@thermalenergy.com

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Thermal Energy International Inc.

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