Thermal Energy Integrating Solar Thermal into Heat Recovery System for Leading Fortune 500 Food & Beverage Corporation

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Return to homepage

(TheNewswire)

  

OTTAWA, ONTARIO / TheNewswire / November 26, 2018 – Thermal Energy International Inc. (“Thermal Energy” or the “Company”) (TSX-V: TMG), a provider of proprietary energy and water efficiency, emission reduction and sustainability solutions to businesses globally, has been commissioned by a leading Fortune 500 food and beverage conglomerate to integrate a heat recovery process with a solar thermal water heating system.

 

The landmark project, with an order value of approximately $300,000, leverages Thermal Energy’s expertise in low temperature heating systems. The initiative will see an existing FLU-ACE® Heat Recovery Unit being used to support a solar thermal system already in operation at the site. It is an important step towards advancing the Company in the sustainable energy space.

 

Upon deployment, solar thermal heated water will further heat the direct contact FLU-ACE condensing circuit in a process whereby waste heat and water is condensed and recovered from the boiler plant exhausts. It is estimated that the addition of the solar thermal technology will increase this measure’s efficiency by over 15% and reduce greenhouse gas emissions by an additional 374 tonnes CO2e per year.  

 

“We are pleased to announce the receipt of another significant order from this corporate account,” said William Crossland, CEO of Thermal Energy. “Our acknowledged success to date in recovering and utilizing low grade waste heat at the business’s facilities has led to our selection for this project.

 

“This is the latest in a series of projects conducted with this key client. While it is not the highest value order the company has placed with us, it demonstrates our continued commitment to working together and their confidence in our ability to broaden our scope by including sustainable solar solutions.”

 

The project is expected to be completed and revenue earned within six months.

 

ENDS

   

For media enquiries contact:

Devin Crockett or Liz Fisher

Marketing Manager

Thermal Energy International Inc.

Canada: 613-723-6776

UK: +44 (0)117 917 2179

[email protected]

 

For investor enquiries:

William Crossland

President and CEO

Thermal Energy International Inc.

613-723-6776

[email protected]

  

 

Notes to editors:

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. 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 by providing a unique mix of proprietary products together with process, energy and, environmental engineering expertise, Thermal Energy is able to deliver unique turnkey projects with significant financial and environmental benefits for our customers.    

 

Thermal Energy's proprietary products include; GEMTM - Steam Traps, FLU-ACE® - Direct contact condensing heat recovery, Heat-Sponge SIDEKICK and RAINMAKER – Indirect contact condensing heat recovery systems, and Dry-Rex® - Low temperature biomass drying systems.

 

Thermal Energy has offices in Ottawa, Canada, Pittsburgh, USA, as well as Bristol, U.K., Germany, Poland, Italy and China. TEI’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.

 

 

Copyright (c) 2018 TheNewswire - All rights reserved.