 OTTAWA, ONTARIO / August 31, 2017 - Thermal Energy International Inc. (TSX-V: TMG) has been engaged by a leading Fortune 500 food and beverage customer to implement a $1.46 million "Super-Efficient Cogeneration(TM)" heat recovery project at one of its plants. The project is expected to be completed and revenue earned over the next six to nine months. All figures are in Canadian dollars. Partially utilizing the FLU-ACE(R) unit previously installed, Thermal Energy will work with this customer to implement a number of additional energy efficiency and heat recovery measures related to three new reciprocating engine units to be installed on-site. These measures are expected to result in the customer's cogeneration plant being more than 88% efficient, in line with Thermal Energy's new best-in-class Super-Efficient Cogeneration offering. Typical cogeneration systems operate between 65% and 75% efficiency. This complete Super-Efficient Cogeneration project is expected to reduce the customer's use of coal-generated power by 23 million kWh per year, resulting in a net greenhouse gas reduction of 14.5 thousand tonnes of CO2 (equivalent) per year. The increased efficiency related to Thermal Energy's heat recovery scope is expected to result in annual utility savings of approximately $945 thousand for the customer. Including this project and previous orders and products installed to date, doing business with Thermal Energy International is expected to provide this customer with estimated annual energy savings of $3.3 million. "This leading food and beverage customer chose Thermal Energy for this project because of our proven expertise in recovering waste heat and our long track record of success delivering projects at this customer's sites. With the implementation of this project we are demonstrating that this expertise goes well beyond our proprietary FLU-ACE and GEM technologies. Our solutions - our technologies and expertise - enable us to squeeze more usable energy out of each unit of fuel. Our Super-Efficient Cogeneration solution represents a dramatic energy efficiency improvement over typical cogeneration systems widely available. This has allowed us, at this site, to roughly double the revenue that we will earn when compared to providing a FLU-ACE system alone. We are moving to replicate this at other sites with this and other customers, thereby growing Thermal Energy's aggregate revenue by increasing the number of potential sites as well as increasing the potential revenue at each site." - William Crossland, CEO. Key Benefits of Thermal Energy's Super-Efficient Cogeneration Solution
Typical cogeneration systems produce combustion efficiencies in the range of 65% to 75% (compared to 35% to 45% for a non-integrated reciprocating engine or gas / steam turbine plant). By combining a typical cogeneration unit with Thermal Energy's energy efficiency and heat recovery expertise and technology, cogeneration efficiencies can now be pushed as high as 95%. Other key benefits include:
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(R) - Direct contact condensing heat recovery, and Dry-Rex(R) - 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.
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GUELPH, Ontario, Aug. 30, 2017 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that it successfully completed construction and started commercial operation of a 27.3 MWp solar photovoltaic (PV) power plant in Tottori Prefecture, Japan. The plant reached commercial operation on August 10, 2017. Powered by 85,320 Canadian Solar's high-efficiency MaxPower modules, the plant is expected to generate approximately 26,259 MWh of clean, reliable solar electricity each year, which will be purchased by Chugoku Electric Power Co., Inc. under a 20-year feed-in-tariff contract at the rate of ¥40...
via Canadian Solar Inc. Press Releases http://ift.tt/2wI4uDU Vancouver, Canada, August 24, 2017 – Legend Power Systems Inc. (“Legend” or “the Company”)(TSXV: LPS) a global leader in voltage reduction and optimization technology, today reported its third quarter 2017 financial results for the three and nine months ended June 30, 2017. Currency amounts are in Canadian dollars. A complete set of the June 30, 2017 Consolidated Financial Statements and Management’s Discussion & Analysis have been filed on SEDAR (www.sedar.com) and are available on Legend’s corporate website, http://ift.tt/2qg0xE8. Highlights for the three months ended June 30, 2017:
“The third quarter of fiscal 2017 was the Company’s best ever,” said Randy Buchamer, Legend’s President & CEO. “We have again taken significant steps along our 2017 transformation journey from an early stage entity to a growth stage company. We continue to add first class talent to the team, strengthen our balance sheet, and improve operational capacity. For the first time in our company’s history we have achieved positive EBITDA. A healthy trend in Committed Orders is a testament to our firmly established reputation as a leading energy efficiency company with a product that provides strong energy savings. We believe in our roadmap for success and our outlook has never been more optimistic.” The Company’s cash position has recently benefitted from the early exercise of 3,834,368 warrants at a price of $0.40 each for total proceeds of $1.53m. Several insiders and a core group of shareholders exercised these warrants prior to their scheduled expiry on December 30, 2017. The strategic direction for Legend’s fourth quarter and beyond includes continued expansion in the Ontario region, strategic expansion into the United States as a second performing region, and the launch of a partner-based distribution sales channel for low-cost, rapid expansion. Financial summary for the three and nine month periods ended June 30, 2017 and 2016:
1 Gross margin is based on a blend of both equipment and installation revenue. 2 Adjusted EBITDA; for the three and nine month periods ended June 30, 2017 and 2016, we are disclosing Adjusted EBITDA, which is a non-IFRS financial measure, as a supplementary indicator of operating performance. We define Adjusted EBITDA as net income or loss before; interest, income taxes, amortization, warranty expense, non-cash stock based compensation and foreign exchange gains and losses, as well as unusual non-operating items such as insurance settlement. Revenue for the third quarter of 2017 was $1,516,813, up from $588,982 in the same period of fiscal 2016. Year to date revenue was $3,163,042, up from $2,036,782 in the same period of 2016. The higher revenue in both periods is attributable to increasing demand for the Company’s product combined with particularly strong results realized in the education market vertical. Gross blended margin in the third quarter 2017 was 47.3%, a slight decrease from 51.7% in the same period of 2016. Year to date gross blended margin was 47.6%, significantly improved from 39.4% in 2016. The decrease in blended gross margin for the three month comparative periods is due in most part to the effect of the Company’s more comprehensive approach, in fiscal 2017, to capturing indirect manufacturing costs and to weaker margins associated with installation revenue from business written in prior periods. The increase in gross blended margin for year over year nine month periods is due primarily to economies of scale achieved through higher volume of units sold and a comparatively stronger profit margin contribution from installation services. Management expects gross blended margin to continue to improve with volume, cost optimization, and a strengthened field operations team focused on profitability in our installation services business. Operating expense as a percentage of revenue in the third quarter 2017 was 58.4% compared with 149.2% in the same quarter of 2016. Year to date operating expense as a percentage of revenue was 75.7%, down from 111.2% in 2016. The decreases in both comparative periods is due primarily to increases in revenue in the current year periods, offset slightly by marginally higher operating expenses associated with the Company’s growth in the current year. Effective control of operating expenses related to the Company’s rapid growth remains a top priority of management. Thirteen new individuals have been added to the Legend team since the beginning of our fiscal year without a negative impact on our operating expense as a percentage of revenue results. Third quarter 2017 Adjusted EBITDA was positive $39,088, a significant improvement from negative $330,720 in 2016. Year to date Adjusted EBITDA was negative $433,972, also a significant improvement over negative $1,163,194 in 2016. The Company was able to realize these improved results in both comparative periods by achieving stronger sales and gross margins, which was offset slightly by higher operating expenses. Net loss for the third quarter 2017 was $161,510, down from $574,370 in 2016 and year to date was $881,244 down from $1,461,780 in 2016. Included in the third quarter 2017 net loss were several significant non-cash items, which totaled $208,005, while in the year to date period non-cash items totaled $456,931. Legend has scheduled a conference call to provide a business update and discuss its Q3 2017 financial results for Thursday, August 24, 2017 at 10:00am pacific time (1:00pm ET). The call will be hosted by Randy Buchamer, President & Chief Executive Officer and Steve Vanry, Chief Financial Officer. Conference Call Details:
* The Company is reporting Committed Orders, a non-IFRS measure, which is a supplementary indicator of sales activity. Committed Orders herein are tabulated as of the last day of the prior fiscal quarter. This measure is being presented based on the belief that it provides the reader a more complete and current understanding of the Company’s sales activity. The measure does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. The Company defines Committed Orders as the total number of units committed for purchase by customers, evidenced by either a purchase order, purchase agreement, or both on the last day of the most recently ended fiscal quarter, which had not been recognized in revenue during the proceeding financial periods. About Legend Power Systems Inc. Legend Power Systems Inc. (www.legendpower.com) is changing the way buildings around the world use power. The company’s patented and proprietary technology reduces overvoltage, a natural condition present in power grids around the world. Overvoltage inflates energy costs, damages electrical equipment, and increases the negative impact a building has on the environment. Legend’s utility-proven Harmonizer improves the power efficiency of an entire building to reduce total energy consumption and power costs, while maximizing equipment life. The solution provides customers risk free energy savings, improves the value of their physical assets, and enhances their sustainability efforts. As an application with demand side benefits, Legend is also a key contributor toward utility conservation goals. In 2015 Legend was recognized as the top performing cleantech company on the TSX Venture Exchange. For further information, please contact: Randy Buchamer, CEO and President + 1 778 945 1501
Sean Peasgood, Investor Relations + 1 416 565 2805
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This Press Release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company’s quarterly and annual Management’s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law. via Legend Power Systems Inc. http://ift.tt/2viTdWt Vancouver, Canada, August 17, 2017 – Legend Power Systems Inc. (TSXV: LPS) a global leader in voltage reduction and optimization technology, today announced that it will release its Q3 2017 financial results for the three and nine-month periods ended June 30, 2017, on Thursday, August 24, 2017 at 6:00am Pacific time (9:00am ET). Legend has also scheduled a conference call to provide a business update and discuss its Q3 2017 financial results for Thursday, August 24, 2017 at 10:00am Pacific time (1:00pm ET). The call will be hosted by Randy Buchamer, President & Chief Executive Officer and Steve Vanry, Chief Financial Officer. CONFERENCE CALL DETAILS:
About Legend Power Systems Inc. Legend Power Systems Inc. (www.legendpower.com) is changing the way buildings around the world use power. The company’s patented and proprietary technology reduces overvoltage, a natural condition present in power grids around the world. Overvoltage inflates energy costs, damages electrical equipment, and increases the negative impact a building has on the environment. Legend’s utility-proven Harmonizer improves the power efficiency of an entire building to reduce total energy consumption and power costs, while maximizing equipment life. The solution provides customers risk free energy savings, improves the value of their physical assets, and enhances their sustainability efforts. As an application with demand side benefits, Legend is also a key contributor toward utility conservation goals. In 2015 Legend was recognized as the top performing cleantech company on the TSX Venture Exchange. For further information, please contact: Randy Buchamer, CEO and President + 1 778 945 1501
Sean Peasgood, Investor Relations + 1 416 565 2805 Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This Press Release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company’s quarterly and annual Management’s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law.
via Legend Power Systems Inc. http://ift.tt/2uTGOZd
GUELPH, Ontario, Aug. 14, 2017 /PRNewswire/ -- Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced its financial results for the quarter ended June 30, 2017. Second Quarter 2017 Highlights Total solar module shipments were 1,745 MW, compared to 1,480 MW in the first quarter of 2017, and second quarter guidance in the range of 1,530 MW to 1,580 MW. Net revenue was $692.4 million, compared to $677.0 million in the first quarter of 2017, and second quarter guidance in the range of $615.0 million to $635.0 million. Net revenue from the total solutions business as a percentage of total net...
via Canadian Solar Inc. Press Releases http://ift.tt/2w386Ae
GUELPH, ON, August 10, 2017 /CNW/ – Biorem Inc. (TSXV: BRM) (“Biorem” or “the Company”) today announced several new orders totaling $5 million. The orders are for air emission abatement projects in North America, the Middle East and China. “The […]
via Biorem Technologies http://ift.tt/2wz363n EDF Energies Nouvelles Partners with Canadian Solar for a 92.5 MWp Photovoltaic Project in Brazil8/10/2017
GUELPH, Ontario, Aug. 10, 2017 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, and EDF Energies Nouvelles, a global market leader in renewable energy, announced today a partnership in the 92.5 MWp Pirapora III photovoltaic project in Brazil, through the sale of 80% interest in the Project by Canadian Solar to EDF EN do Brasil, EDF Energies Nouvelles' local subsidiary. The Pirapora III project has started construction and is expected to reach commercial operation in the fourth quarter of 2017. Canadian Solar is supplying modules for the Project from its 380 MWp modules factory established in Brazil t...
via Canadian Solar Inc. Press Releases http://ift.tt/2vpfgff Sempra Renewables Acquires California Solar Project from Canadian Solar Subsidiary Recurrent Energy8/8/2017
GUELPH, Ontario, Aug. 8, 2017 /PRNewswire/ -- Recurrent Energy, a wholly owned subsidiary of Canadian Solar Inc. ("Canadian Solar") (NASDAQ: CSIQ), today announced that Sempra Renewables LLC, a unit of Sempra Energy (NYSE: SRE), has acquired its 200 MWac/281 MWp Great Valley Solar project, previously called Tranquillity 8. "We are pleased to work with a market-leading partner like Sempra Renewables on this transaction," said Dr. Shawn Qu, chairman and chief executive officer of Canadian Solar. "Recurrent Energy's strong portfolio of U.S. solar assets continues to create value for our customers and shareholders." The Great Valley Solar project, currently under construction in Fresno Cou...
via Canadian Solar Inc. Press Releases http://ift.tt/2hGapDe
GUELPH, Ontario, Aug. 7, 2017 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies and EDF Energies Nouvelles, a global market leader in renewable energy, today announced that the 191.5 MWp Pirapora I project had secured a project financing facility amounting to BRL529 million (US$163 million) from the Brazilian Development Bank ("BNDES"). The Pirapora I project is the first-ever solar power generation project to be financed by BNDES, with funding entirely from TJLP (Brazilian Long Term Interest Rate). The 18-year financing facility underscores the confidence of BNDES in the long-term growth of renewable ...
via Canadian Solar Inc. Press Releases http://ift.tt/2wmiHmK |
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