Thermal Energy International Receives $780,000 In Heat Recovery and GEM(TM) Orders from Major Hospital
10 Settembre 2013 - 2:02PM
Access Wire
OTTAWA, ONTARIO - September 10th,
2013 - Thermal Energy
International Inc. (TSXV: TMG) ("Thermal Energy" or the "Company"),
a leading provider of custom energy efficiency and emission
reduction technologies to energy intensive industries and
institutions worldwide, today announced that it has received both a
heat recovery system order and a GEM(R) steam trap
system order from a major publicly owned hospital. The two orders
total, in aggregate, approximately $780,000. Both the heat recovery
and GEM(R) steam trap systems are expected to be installed and
revenue earned over the next six months.
"These two
orders are the second time in the last 3 months where we have been
successful selling both a heat recovery system and a
GEM(R) steam trap system to the same facility at the same
time" commented William Crossland, President and CEO of Thermal
Energy. "Focusing on corporate accounts and cross-selling
opportunities such as this is a key part of our strategy to
leverage sales growth and these recent orders are evidence this
strategy is beginning to pay off."
The heat
recovery and GEM(R)
steam trap systems to be installed at the
hospital are calculated by Thermal Energy to reduce the hospital's
annual fuel consumption by 31% and reduce the hospital's total
carbon emissions by approximately 8%. The projects will also
provide a payback of approximately 2.4 years, with an expected life
of 20 years.
With this
order Thermal Energy's order backlog currently stands at
approximately $8.7 million of which approximately $0.5 million is
related to long term contracts and is not expected to be reflected
in revenue within the next 12 months. Thermal Energy includes in
"order backlog" all purchase orders received for product or
services that have not yet been reflected as revenue in the
Company's published quarterly financial statements.
About Thermal Energy International
Inc.
Thermal Energy
International Inc. is an innovative cleantech company providing a
variety of proprietary and proven energy efficiency, emission
reduction, water efficiency, and bioenergy products and solutions
to the industrial, commercial and institutional markets worldwide.
Thermal Energy is also a fully accredited professional engineering
firm, and can offer advanced process and applications engineering
services. By providing a unique mix of proprietary products
together with process, energy, environmental, and financial
expertise Thermal Energy is able to deliver significant financial
and environmental benefits to its customers.
Thermal
Energy's products include; GEM(R) - Steam traps and condensate return systems,
FLU-ACE(R)
- Direct contact condensing heat
recovery, and Dry RexTM - Low temperature biomass drying systems. These award
winning products are effective in a wide variety of industries and
application and have an excellent track record of longevity, proven
reliability and performance providing significant energy savings,
reduced GHG emissions, improved water efficiency, lower maintenance
costs, improved product quality and increased production
efficiency.
Thermal Energy
International Inc. has offices in Ottawa, Canada as well as
Bristol, UK, United States, Italy and China. To find out more about
Thermal Energy International Inc. (TSX-V: TMG), visit our website
at http://www.thermalenergy.com.
For
more information, please contact:
William Crossland
President and CEO
Thermal Energy
International Inc.
613-723-6776
bill.crossland@thermalenergy.com
# # #
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. Statements relating to the expected installation and
revenue recognition for projects as well as statements about the
anticipated effectiveness of the Company's products 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. Orders in the
Company's backlog as described above may not turn into revenue due
to many factors, some of which are outside of the Company's
control, including but not limited to the Company's ability to
deliver products on time and in accordance with specifications 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.
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