Thermal Energy Announces $2.6 Million Heat Recovery Order from Multinational Dairy and Nutrition Company

Thermal Energy International Inc. (“Thermal Energy” or the “Company”) (TSX-V: TMG, OTCQB: TMGEF), a provider of innovative energy efficiency and carbon emission reduction solutions to major corporations around the world, this morning received a $2.6 million turn-key heat recovery order from a multinational dairy and nutrition company. All figures are shown in CAD.

“We are thrilled to partner with this leading dairy producer to maximize the potential of a Combined Heat and Power system already on site,” said William Crossland, Thermal Energy CEO. “This turn-key project will reduce their reliance on natural gas and lower their carbon footprint while saving them money. While we have sold them GEM steam traps in the past, this is our first Turn-Key Heat Recovery Project with this customer.”
 
“Our order intake is off to a strong start in fiscal 2024 as we’ve already received more than $13 million in orders less than five months into the year. Not surprisingly, we’re seeing strong demand for our solutions, as energy efficiency is the fastest, cheapest, and easiest way for manufacturing operations around the world to reduce their carbon emissions.”

Environmental Benefits, Fuel Savings and Project Payback
 
By displacing the demand for natural gas through waste heat recovery, this turn-key project is expected to result in estimated  annual savings of $1.2 million on fuel while reducing CO2 emissions by 4,231 tonnes, as well as a 50% - 90% reduction in annual emissions of particulate matter (which are contributors to asthma and other respiratory diseases) and acid gases such as SO2. The project is expected to provide a payback of approximately 2.1 years.
 
The project is expected to be completed and revenue earned within 12 months.

About Thermal Energy International Inc.
 
Thermal Energy International provides energy efficiency and emissions reduction solutions to Fortune 500 and other large multinational companies. Thermal Energy saves its customers money by reducing their fuel use and cutting their carbon emissions. Their proprietary and proven solutions can recover up to 80% of energy lost in typical boiler plant and steam system operations while delivering a high ROI with a short, compelling payback.
 
Thermal Energy’s common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG and on the OTCQB under the symbol TMGEF. For more information, visit our investor website at https://investors-thermalenergy.com or company website at www.thermalenergy.com and follow us on Twitter at https://twitter.com/GoThermalEnergy.

Source: Thermal Energy International