OTTAWA, ONTARIO – March 30, 2017 – Thermal Energy International Inc. (“Thermal Energy” or the “Company”) (TSX-V: TMG), a global provider of proprietary energy efficiency solutions to the industrial, commercial and institutional sectors, has received a $1.7 million order from a major hospital group for one of the Company’s proprietary FLU-ACE® heat recovery systems. The project is expected to be completed and revenue earned over the next six months.
“This is the third heat recovery order received from this customer since they signed a corporate level supply agreement with Thermal Energy in July of 2015. This customer has a number of other hospitals and healthcare facilities that could benefit from our products. And, as this customer and our other hospital customers are aware, the savings that can be realized using our proven energy efficiency technologies are substantial. In addition to freeing up funds that can be reallocated to other critical areas, our products also make hospitals more environmentally friendly by reducing their carbon emissions significantly.” - William Crossland, CEO of Thermal Energy.
This latest heat recovery project is expected to provide this particular hospital with annual energy savings of approximately $403 thousand, resulting in a simple payback of approximately four years.
The Ottawa-based cleantech company has several case studies available on their website at www.thermalenergy.com/hospitals.html.