Thermal Energy to Help Global Premium Beer Company Continue Sustainability Leadership
(via Thenewswire.ca)
High ROI and Short Payback Period Deciding Factors in
Beverage Company's Decision to Purchase GEM(R) Steam Traps
OTTAWA, ONTARIO - February 10, 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 $160 thousand from one of the world's largest beer companies. The order is expected to be fulfilled and revenue earned over the next six months.
"This is a new customer and we are optimistic that the high ROI and expected payback period of just 19 months will result in repeat business" said William Crossland, CEO of Thermal Energy. "Not only does this global beverage company have a multitude of sites internationally, they are also a recognized leader when it comes to sustainability initiatives in their industry. We are honoured that they have chosen to partner with us to help them continue that leadership."
The GEM(R) steam traps are expected to reduce the beverage company's annual operating costs by approximately $100 thousand, and lower greenhouse gas emissions by approximately 327 tonnes annually, compared to the existing steam traps on site from another manufacturer.
With this order Thermal Energy's order backlog currently stands at approximately $7.2 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.