Thermal Energy Retains Investor Relations Firm

Ottawa, Ontario--(Newsfile Corp. - April 14, 2023) - Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) ("Thermal Energy" or the "Company"), an innovative cleantech company and global provider of proprietary energy and carbon emissions reduction solutions to some of the world's largest corporations, today announced that it has retained MBC Capital Markets Advisors ("MBC") to provide strategic investor relations services.

Founded in 1983 as MaisonBrison Communications, MBC is one of Canada's leading advisory firms specializing in investor relations and strategic communications. MBC's dedicated team of IR professionals includes former sell-side analysts, bankers, and investor relation officers as well as corporate governance and special situations experts. MBC's deep capital markets expertise enables the firm to provide a comprehensive investor relations service offering.

Under the terms of the agreement, Thermal Energy will pay MBC a base monthly retainer fee of $7,000 (subject to additional hourly fees dependent on exceeding a certain threshold of hours of service) for an initial eight-month period.

Neither MBC nor any of its principals have an ownership interest, directly or indirectly, in Thermal Energy or its securities, and Thermal Energy has not granted MBC or its principals any right to acquire any such interests.

The appointment of MBC as an investor relations consultant of Thermal Energy remains subject to approval of the TSX Venture Exchange.

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; GEM^TM - 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, Germany, 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.

William Crossland
President and CEO
Thermal Energy International Inc.
613-723-6776
[email protected]

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