NEWS OUT - THERMAL ENERGY INT'L - TMG
Thermal Energy Gets Major Order for GEM(R) Steam Traps in U.S.
3/1/2007
OTTAWA, Mar 1, 2007 (Canada NewsWire via COMTEX News Network) --
Follow-on orders anticipated from Global 500 Customer
Thermal Energy International Inc. (TSX-V: TMG) (www.thermalenergy.com) is pleased to announce it has received a major order under its exclusive license for the GEM(R) Condensate Return System from a Global 500 company at a U.S. location.
The GEM(R) Condensate Return System is the first major advancement in steam trap technology in over 100 years. With no moving parts, the traps are offered with an unprecedented 10-year, no-fail guarantee and offer up to 50% savings in the cost of steam production over traditional steam traps, through reduced leakage and maintenance.
When finalized, the initial order at the customer's semiconductor manufacturing facility in Michigan is expected to total approximately 250 traps of assorted sizes, with a contract value of approximately $250,000 for Thermal Energy and GEM. Further orders are expected.
"This contract serves as another important validation off our strategy to identify and secure complementary technologies which provide a wide range of solutions for customers seeking energy savings," said Thermal Energy President and CEO Tim Angus. "Just as important is the fact that this is our third U.S. contract in a row in which we have engaged new clients which are large, multinational corporations with the prospects for repeat business.
"This speaks to the excellent depth being developed in our pipeline of sales opportunities which we see continuing to yield growth for our shareholders," said Mr. Angus.
About Thermal Energy
Thermal Energy International Inc. is an innovative technology company providing custom energy and emission reduction solutions. Headquartered in Ottawa, Canada, TEI is a designer, design build developer, fabricator, and supplier of proprietary and patented energy conservation, renewable energy and environmental technology solutions. Thermal Energy is a fully accredited professional engineering firm, and offers advanced process and applications engineering services. FLU-ACE(R), THERMALONOx(TM), THERMALOZOMAx(TM) and Dry-Rex(TM) are trademarks of Thermal Energy International. GEM(R) is a trademark used under exclusive license from Gardner Energy Management Ltd.
For more about Thermal Energy International Inc. (TSX-V: TMG), visit our website at www.thermalenergy.com.
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SOURCE: Thermal Energy International Inc.
Stuart McCarthy, Thermal Energy International Inc., Investor Relations and Communications, (613) 723-6776 x 220, stuart.mccarthy@thermalenergy.com
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