Thermal Energy International (Guangzhou) Ltd. to sell energy saving
solutions to Chinese industries
OTTAWA, Canada and GUANGZHOU, China, Nov. 28 /CNW Telbec/ - Thermal
Energy International Inc. (TSX-V: TMG) (www.thermalenergy.com) today announced
it is entering into a joint venture to sell the Company's energy and emission
reduction solutions in China with a permanent office to open by year-end.
Thermal Energy International (Guangzhou) Ltd. (TEIG) will be a joint
venture between Thermal Energy International Inc., Oriental-Unicorn Sales and
Marketing Co., of Guangzhou, China, and E5 Enterprises LLC, of Markham,
Ontario. Thermal Energy is the majority owner of the joint venture through a
wholly-owned numbered company.
The new venture will operate from a recently established office in
Guangzhou which will have up to five staff for sales and marketing, and
administration by the end of the current calendar year. Plans also include an
option for opening a TEIG engineering and assembly facility in the Guangzhou
Special Energy and Technology Zone by the end of the second year of
"We are very pleased to be joining with Thermal Energy to bring these
excellent energy saving solutions to China," said Ma Jun (Johnny), General
Manager of Oriental-Unicorn, who will be Deputy General Manager of TEIG and
oversee in-country operations. "The interest we are already seeing from
potential customers is very strong and we look forward to strong growth in
Oriental-Unicorn was instrumental in Thermal Energy's sale of GEM steam
traps to Lee and Man Paper Co. earlier this year.
E5 Enterprises is operated by Dr. You-Zhi Tang, a Partner with
Ottawa-based Venture Coaches and the Canadian Cleantech Fund. Dr. Tang has
also been a technology and government relations advisor to Thermal Energy on
the Chinese market.
"This joint venture provides an excellent anchor in China for Thermal
Energy to accelerate its sales efforts with a permanent presence in the China
market and demonstrates a commitment to the market which we know is important
for customers there," said Tim Angus, President and CEO of Thermal Energy and
General Manager of the new venture.
The primary focus of the joint venture will be promoting and selling the
GEM(R) Condensate Return System in China to a variety of industrial sectors,
with a minor focus on selling FLU-ACE(R) waste heat recovery technology.
Thermal Energy is the exclusive distributor of the GEM(R) Condensate
Return System in China. GEM steam traps have no moving parts, come with a
10-year no-fail performance guarantee and typically provide a combination of
15% to 50% savings in steam production and increased output and efficiency.
The FLU-ACE(R) waste heat recovery system captures heat wasted from
boiler stacks, dryer exhausts and other combustion sources. The captured heat
and is redirected back into process or facility operations, reducing the
consumption of fossil fuels for things such as heating water or air space,
achieving typical energy cost savings of 15% to 35%.
About Thermal Energy
Thermal Energy International Inc. is an innovative technology company
providing custom energy and emission reduction, and bioenergy solutions.
Headquartered in Ottawa, Canada, TEI is a designer, design build developer,
fabricator, owner, operator and supplier of proprietary and patented energy
conservation, renewable energy and environmental technology solutions. Thermal
Energy is a fully accredited professional engineering firm, and offers
advanced process and applications engineering services. The Company is a proud
member of the Chicago Climate Exchange (CCX). FLU-ACE(TM), DRY-REX(TM),
THERMALONOx(TM) and THERMALOZOMAx(TM), THERMAL-AUD(TM) are trademarks of
Thermal Energy International. GEM(R) is a trademark used under exclusive
license from Gardner Energy Management Ltd.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
For further information: Stuart McCarthy, Investor Relations and
Communications, (613) 723-6776 x 220, email@example.com