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 http://www.thermalenergy.com.
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.
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SOURCE: Thermal Energy International Inc.
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