Thermal Energy Receives Additional $232,000 GEM Order from Leading Performance Materials and Chemicals Company
07 Maggio 2014 - 12:59PM
Access Wire
OTTAWA, ONTARIO / ACCESSWIRE / May 7, 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 it has received a purchase order
valued at approximately $232 thousand for its GEM(R) Steam Traps
from one of the world's leading manufacturers of performance
materials and specialty chemicals. The order is expected to be
fulfilled and revenue earned over the next six months.
"With this latest order, so far in fiscal 2014 we have received
GEM orders totaling approximately $282,000 to replace a small
proportion of the steam traps at three of this customer's sites,"
said William Crossland, CEO of Thermal Energy. "The customer is a
Fortune 500 company with revenue in excess of $9 billion and more
than 40 manufacturing sites around the word. Having already sold to
three different sites, this customer has the potential to develop
into an important corporate account with the potential for further
repeat business."
With this order Thermal Energy's order backlog currently stands
at approximately $5.5 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. Statements relating to the expected
installation and revenue recognition for projects, 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. 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.
SOURCE: Thermal Energy International Inc.
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