OTTAWA, Dec. 14, 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 first purchase order totaling
approximately $300,000 for the installation of a Heat Recovery System
at another food and beverage company. Thermal Energy expects to
complete installation of this project and recognize the revenue
associated with it over the next two quarters. Thermal Energy is
currently working at a number of additional sites developing both Heat
Recovery Systems and Steam Trap Solutions for this Fortune 500 company.
"The value that our heat recovery technology brings to the Food &
Beverage sector is further highlighted by this project. Even with
natural gas prices at such low levels, our energy efficiency solutions
can be implemented with attractive returns on investment," said William
Crossland, President and CEO of Thermal Energy. "This order, together
with the 6 other heat recovery projects announced over the last 12
months, demonstrates our successful effort to smooth out revenue
quarter-to-quarter by focusing on projects of all sizes thereby
reducing our dependence on single large contracts. In addition, this
project, which was developed through our distributor network, validates
our current sales model and market approach"
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 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, and China. To find out more about Thermal Energy
International Inc. (TSX-V: TMG), visit our website at
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, implementation
and revenue recognition, the anticipated effectiveness of Thermal
Energy's products and services and the revenues to be received by
Thermal Energy from the project described. Many factors outside of
Thermal Energy's control, including factors affecting the customer,
could cause actual events to differ from Thermal Energy's expectations
and may ultimately prevent the project from being completed and the
stated revenue from being earned. Statements with respect to
anticipated effectiveness of products, reductions in carbon emissions
and savings are based on studies conducted by Thermal Energy and the
company'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. Thermal Energy
disclaims any obligation to publicly update or revise any such
statements except as required by law.
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:
President and CEO
Thermal Energy International Inc.
The Equicom Group