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's products include; GEM® - Steam
traps, FLU-ACE® - Direct contact condensing heat
recovery, and Dry-Rex® - Low temperature biomass drying
systems.
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.
For more information, visit our website at www.thermalenergy.com
and follow us on Twitter at http://twitter.com/GoThermalEnergy.
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.