OTTAWA, Dec. 18, 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 signed a contract valued at
approximately $750,000 for the installation of a Heat Recovery System
at a large publicly funded hospital. Thermal Energy expects to complete
installation of this project and recognize the revenue associated with
it over the next two quarters.
"Our industrial and institutional energy efficiency solutions deliver
not only cost and energy savings, but have the added bonus of
maximizing carbon emission reductions without the typical markup for
going green," said William Crossland, President and CEO of Thermal
Energy International. "We are making great inroads in our key markets
by focusing on our sales and distribution strategy and continuing to
enhance our corporate sales capabilities in order to capitalize and
expand on our recent success."
The Heat Recovery system to be installed at this hospital is calculated
by Thermal Energy to reduce carbon emissions by approximately 852
tonnes annually and reduced the hospital's steam requirements by 14%.
The energy savings alone are expected to pay for the capital cost of
the project in less than 4 years.
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, 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