OTTAWA, Aug. 4, 2016 /CNW/ - Thermal Energy International Inc. ("Thermal Energy" or the "Company") (TSXV: TMG), a global provider of proprietary energy efficiency solutions to the industrial, commercial and institutional sectors, has received orders with a combined value of approximately $1,148,000 from a hospital trust for continued energy efficiency improvements. The orders include $868,000 for a heat recovery system at one of the trust's hospitals and a $280,000 GEM® order for another of the trust's hospitals. These projects are expected to provide the hospital trust $361,000 in annual savings and reduce its carbon emissions by approximately 1,200 tonnes per year, with a combined payback period of just over three years. Both projects are expected to be completed and revenue earned over the next six months.
"This is another example of repeat business from a group of hospitals," said William Crossland, CEO of Thermal Energy. "In 2012, we had converted another of this customer's hospitals over to our GEM steam traps. Having realized the superior performance and energy savings from our steam traps, the hospital trust has turned to us to deliver more energy efficiency improvements. By reducing hospitals' energy bills, our products provide real savings that can be reallocated to other critical areas, such as patient care. In addition to helping hospitals save much needed funds, our proven products have helped more than 110 hospitals across North America and Europe significantly lower their carbon emissions."
Including the 2012 GEM conversion and the two current orders, Thermal Energy's energy efficiency solutions are expected to reduce the hospital trust's annual carbon emissions by approximately 2,200 tonnes while providing annual savings of approximately $637,000. Over the expected 20+ year life Thermal Energy's energy efficiency solutions could deliver more than $12.7 million in savings and reduce carbon emissions by more than 44,000 tonnes.
Several case studies demonstrating the proven benefits Thermal Energy's products have provided to hospitals can be found on the Company's website at www.thermalenergy.com/hospitals.
About Thermal Energy International Inc.
Thermal Energy International Inc. is an established global supplier of proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors worldwide. We save our customers money and improve their bottom line by reducing their fuel use and cutting their carbon emissions. Our customers include a large number of Fortune 500 and other leading multinational companies across a wide range of industry sectors.
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 unique and significant financial and environmental benefits to our customers.
Thermal Energy International Inc. has offices in Ottawa, Canada as well as Bristol, U.K., United States, Italy and China. The Company's common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG.
This press release contains forward-looking statements relating to, and amongst other things, based on management's expectations, estimates and projections, the anticipated effectiveness of the Company's products and services and the timing of revenues to be received by the Company. Information as to the amount of heat recovered, energy savings and payback period associated with Thermal Energy International's products are based on the Company's own testing and average customer results to date. Statements relating to the expected installation and revenue recognition for projects, statements about the anticipated effectiveness and lifespan of the Company's products, statements about the expected environmental effects and cost savings associated with the Company's products and statements about the Company's ability to cross-sell its products and sell to more sites are forward looking statements. 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. Fulfilment of orders, installation of product and activation of product could all be delayed for a number of reasons, some of which are outside of the Company's control, which would result in anticipated revenues from such projects being delayed or in the most serious cases eliminated. Actions taken by the Company's customers and factors inherent in the customer's facilities but not anticipated by the Company can have a negative impact on the expected effectiveness and lifespan of the Company's products and on the expected environmental effects and cost savings expected from the Company's products. Any customer's willingness to purchase additional products from the Company is dependent on many factors, some of which are outside of the Company's control, including but not limited to the customer's perceived needs and the continuing financial viability of the customer. The Company disclaims any obligation to publicly update or revise any such statements except as required by law.
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.
Image with caption: "Thermal Energy International has helped more than 110 hospitals across North America and Europe reduce their fuel bills and their carbon emissions. (CNW Group/Thermal Energy International Inc.)". Image available at: http://photos.newswire.ca/images/download/20160804_C8188_PHOTO_EN_747692.jpg
For further information: William Crossland, President and CEO, Thermal Energy International Inc., 613-723-6776, [email protected]; Trevor Heisler, Investor Relations, Heisler Communications, 416-500-8061, [email protected]