Follow-on orders anticipated from Global 500 Customer
OTTAWA, March 1 /CNW Telbec/ - Thermal Energy International Inc. (TSX-V:
TMG) (www.thermalenergy.com) is pleased to announce it has received a major
order under its exclusive license for the GEM(R) Condensate Return System from
a Global 500 company at a U.S. location.
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.
When finalized, the initial order at the customer's semiconductor
manufacturing facility in Michigan is expected to total approximately 250
traps of assorted sizes, with a contract value of approximately $250,000 for
Thermal Energy and GEM. Further orders are expected.
"This contract serves as another important validation off our strategy to
identify and secure complementary technologies which provide a wide range of
solutions for customers seeking energy savings," said Thermal Energy President
and CEO Tim Angus. "Just as important is the fact that this is our third U.S.
contract in a row in which we have engaged new clients which are large,
multinational corporations with the prospects for repeat business.
"This speaks to the excellent depth being developed in our pipeline of
sales opportunities which we see continuing to yield growth for our
shareholders," said Mr. Angus.
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,