FULL NR - Save Energy and Millions of Litres of Water Thermal Energy to Help Global Brewing Company Save Energy and Millions of Litres of Water Annually with $750,000 Heat Recovery Project OTTAWA, ONTARIO – August 8, 2016 –
Thermal Energy International Inc. (“Thermal Energy” or the “Company”) (TSXV: TMG), a global provider of proprietary energy efficiency solutions to the industrial, commercial and institutional sectors, has received a $750,000 order from one of the world’s largest beer companies for the supply and installation of one of Thermal Energy’s proprietary FLU-ACE® heat recovery systems.
The turn-key project is designed to recover waste heat from two natural gas hot water boilers and one steam boiler at one of the customer’s facilities, resulting in annual savings of approximately $268,000 and a project payback of under three years. In addition to lowering the fuel costs for this one facility by 6%, the heat recovery system is expected to reduce carbon emissions by 1,045 tonnes and save more than five million litres of water annually. The project is expected to be completed and revenue earned over the next six months. “Our FLU-ACE heat recovery system will help a world-class beer company live up to its environmental sustainability commitments,” said William Crossland, CEO of Thermal Energy. “Fossil fuel use and water scarcity remain two of the world’s most serious environmental challenges, and breweries and other food and beverage companies use a considerable amount of fossil fuels and water in their operations. We will be helping this customer use a lot less of both. We’ve already helped more than 100 other food and beverage companies save an estimated $72 million in energy, water and maintenance costs while reducing their greenhouse gas emissions by 760,000 tonnes.” Thermal Energy’s energy efficiency solutions have wide application in the food and beverage industry, from breweries and bottling operations, to food processing, packaging, and other related operations. To learn more about how Thermal Energy has helped food and beverage companies become more sustainable, review the Company’s case studies on their website at www.thermalenergy.com/food-and-beverage. About Thermal Energy International Inc.
Thermal Energy International Inc. is an established global supplier of proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors worldwide. We save our customers money and improve their bottom line by reducing their fuel use and cutting their carbon emissions. Our customers include a large number of Fortune 500 and other leading multinational companies across a wide range of industry sectors. 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 unique and significant financial and environmental benefits to our customers. Thermal Energy's products include; GEM® - Steam traps, FLU-ACE® - Direct contact condensing heat recovery, and Dry-Rex® - Low temperature biomass drying systems.
Thermal Energy International Inc. has offices in Ottawa, Canada as well as Bristol, U.K., United States, Italy and China. The Company’s common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG. For more information, visit our website at www.thermalenergy.com and follow us on Twitter at https://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. Information as to the amount of heat recovered, energy savings and payback period associated with Thermal Energy International’s products are based on the Company’s own testing and average customer results to date. 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 ability to cross-sell its products and sell to more sites 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. Any customer’s willingness to purchase additional products from the Company is dependent on many factors, some of which are outside of the Company’s control, including but not limited to the customer’s perceived needs 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.