OTTAWA, June 16, 2011 /CNW/ - Thermal Energy International Inc,
(TSX-V:TMG) (www.thermalenergy.com) ("Thermal Energy" or the "Company") is pleased to announce it has
signed a contract valued at approximately $5.8 million with Fibrek to
provide a FLU-ACE® heat recovery solution for its pulp mill located in
This $5.8 million contract was signed following the successful
completion of the funded project development phase pursuant to a
project development agreement signed on January 24, 2011. Over the last
four months, Thermal Energy together with Fibrek identified, developed
and designed the optimum heat recovery project for Fibrek's
Saint-Félicien mill. Thermal Energy will install the FLU-ACE® heat
recovery solution on the Saint-Félicien pulp machine. The system is
designed to have an installed heat recovery capacity of 57 GJ/hour, and
this recovered energy, equivalent to over 24,000 kg/hr of steam, will
be used to save steam in various areas of the mill, making this steam
available to drive turbines to make green electricity.
"This is the largest single order in the Company's history, and one of
several projects completed in the Pulp and Paper industry over the last
several years, which is evidence of the strong technical capabilities
Thermal Energy has developed in this sector. Projects such as this one,
which can often leverage government funding mechanisms, are consistent
with our strategy to develop and implement large scale turnkey energy
efficiency projects", said Thermal Energy President and CEO William
TEI will commence the project immediately and expect to complete the
project and recognize the majority of revenue over the next four
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
have an excellent track record of longevity, proven reliability and
performance and have been shown to provide 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,
Bristol, UK and Guangzhou, China.
To find out more about Thermal Energy International Inc. (TSX-V: TMG),
visit our website at http://www.thermalenergy.com.
NOTE: This press release contains forward-looking statements relating
to, and amongst other things, based on management's expectations,
estimates and projections with respect to, timing of installation and
implementation, the anticipated effectiveness of the Company's products
and services and the revenues to be received by the Company from the
project described. Statements with respect to anticipated effectiveness
of the Company's products and services are based on studies conducted
by the Company and third parties as well as 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. Many factors, some of which are outside
of the Company's control, could cause events and results to differ
materially from those stated. The Company disclaims any obligation to
publicly update or revise any such statements.
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:
Thermal Energy International Inc.