Thermal Energy Penetrates Indian Market with Multiple Orders from Tire Industry GEM (TM) Steam Traps Can Reduce Tire Manuf...
20 Marzo 2014 - 3:33PM
Access Wire
OTTAWA, ONTARIO / ACCESSWIRE / March 20,
2014 / Thermal Energy International Inc. ("Thermal
Energy" or the "Company") (TSXV: TMG), a global provider of energy
efficiency and emission reduction solutions, announced today that
over the last nine months its GEM(R)
steam trap product has made strong inroads into the tire
manufacturing industry in India. With its most recent purchase
order, the Company has received orders totaling approximately $159
thousand from tire manufacturers in India in fiscal 2014 to date.
The most recent order is expected to be fulfilled and revenue
earned over the next three months.
"We have now had multiple
orders through a local distributor in the Indian tire manufacturing
market," said William Crossland, CEO of Thermal Energy. "With their
enhanced efficiency and reliability, it is no wonder that our
GEM(R) steam traps are the steam trap of
choice for many tire manufacturers. Our traps are the low hanging
fruit for tire manufacturers in India and around the world looking
to improve their steam operations, thereby realizing significant
energy savings and reducing their greenhouse gas
emissions."
Thermal Energy has proven
expertise installing GEM(R) for the
production of automobile, off-road vehicle, racing, and truck
tires; bicycle inner tubes; as well as for remoulds. Made of
stainless steel and having no moving parts, the
GEM(R) Trap is ideal for demanding
applications of tire manufacturing because it performs reliably
under the highest steam pressures. In addition,
GEM(R) Traps increase product quality by
effectively maintaining desired temperatures through the constant
extraction of condensate from the system. Increased product quality
reduces wastage, and enables manufacturers to increase their bottom
line and conserve environmental resources.
With the most recent order,
Thermal Energy's order backlog currently stands at approximately
$7.7 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, U.K., United States,
Italy and China.
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
bill.crossland@thermalenergy.com
Trevor Heisler
Investor Relations
Heisler
Communications
416-500-8061
trevor@heislercommunications.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, statements about the anticipated
effectiveness and lifespan of the Company's products, statements
about the expected environmental effects and cost savings
associated with the Company's products and statements about the
Company's backlog 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. Actions taken by the Company's customers and factors
inherent in the customer's facilities but not anticipated by the
Company can have a negative impact on the expected effectiveness
and lifespan of the Company's products and on the expected
environmental effects and cost savings expected from the Company's
products. 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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