OTTAWA, Nov. 2, 2012 /CNW/ - Thermal Energy International Inc. (TSXV: TMG), a leading provider of custom energy and emission reduction technologies for energy intensive industries and institutions worldwide, today announced that it has received a purchase order totaling approximately $330,000 (£207,163) from a publicly funded hospital for the installation of its GEM® steam trap technology.
"We have made significant investments during the past twelve months growing the Company's sales and distribution capabilities in our key markets, and this order is a clear example of the success we expect as we rollout this growth strategy," said William Crossland, President and CEO of Thermal Energy. "With the addition of this order our GEM® order backlog, defined as purchase orders that have not yet been reflected as revenue in the Company's published financial statements, now stands at $1.2 million compared to $0.7 million at the same time last year".
The GEM® steam trap system to be installed at this hospital is calculated by Thermal Energy to reduce carbon emissions by approximately 1,056 tonnes annually and reduce energy consumption by approximately $215,000 per annum. The energy savings alone are expected to pay for the capital cost of the project in approximately 18 months. In addition to the energy savings, the hospital will also benefit from the GEM steam traps 10 year no fail guarantee, thereby saving an additional $15,000 in expected annual maintenance costs. This important project will significantly reduce energy consumption for the hospital and help towards its target of reducing carbon emissions 80% by the year 2050.
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 its customers.
Thermal Energy's products include; GEM® - Steam traps and condensate return systems, FLU-ACE® - Direct contact condensing heat recovery, and Dry RexTM - Low temperature biomass drying systems. These award winning products are effective in a wide variety of industries and application and have an excellent track record of longevity, proven reliability and performance providing 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 as well as Bristol, UK, United States, Italy and China. To find out more about Thermal Energy International Inc. (TSX-V: TMG), visit our website at http://www.thermalenergy.com.
Forward Looking Statements
This press release contains forward-looking statements based on management's expectations, relating to, among other things, estimates and projections with respect to, timing of installation and implementation, the anticipated effectiveness of Thermal Energy's products and services and the revenues to be received by Thermal Energy from purchase orders received to date. Many factors outside of Thermal Energy's control, including factors affecting a customer that has delivered a purchase order, could cause actual events to differ from Thermal Energy's expectations and may ultimately prevent the stated backlog from becoming revenue. The term "backlog" as defined in this press release may not be comparable to "backlog" presented by other issuers who may define such term differently. Statements with respect to anticipated effectiveness of the Company's products and services are based on studies conducted by Thermal Energy as well as Thermal Energy's experience with similar installations for other customers. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, some of which are outside of Thermal Energy's control, could cause events and results to differ materially from those stated. Thermal Energy disclaims any obligation to publicly update or revise any such statements.
Neither 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.
President and CEO
Thermal Energy International Inc.
The Equicom Group