Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Thermal Energy International Inc V.TMG

Alternate Symbol(s):  TMGEF

Thermal Energy International Inc. provides energy efficiency and emissions reduction solutions to the fortune 500 and other multinational companies. It operates primarily in North America and Europe but also sells its products and services through representative agents throughout the rest of the world. It markets, sells, engineers, fabricates, constructs, installs and supports two technology lines, such as heat recovery solutions, including direct contact heat recovery solutions (FLU-ACE), indirect contact heat recovery solutions (HEATSPONGE and SIDEKICK), and condensate return system solutions (GEMTM steam traps). It is also developing several other technology lines, including low temperature biomass drying systems (DRY-REX). Its solutions can recover up to 80% of energy lost in typical boiler plant and steam system operations. It has two primary operational bases of operation, one in Ottawa, Canada and the other in Bristol, United Kingdom, covering Europe and the rest of the world.


TSXV:TMG - Post by User

Post by proneon Sep 13, 2022 10:54am
140 Views
Post# 34959374

Another Tuesday order .....

Another Tuesday order .....--->

Major Equipment Order from Leading Textile Manufacturer

Major equipment order from a Leading Textile Manufacturer marking a milestone in acquisition integration strategy.


OTTAWA, ONTARIO – September 13, 2022 – Thermal Energy International Inc. (“Thermal Energy” or the “Company”) (TSX-V: TMG, OTCQB: TMGEF),......

--> has been commissioned by a leading textile manufactur
er to deliver its proprietary RBT® wastewater heat recovery system to drive further energy efficiency and carbon reductions for the customer. All figures are shown in CAD. 

 

As an industry leader for jersey wear apparel, this textile manufacturer operates several production sites in Africa and South Asia, exporting 60 million garments a year to Europe and the U.S.  

Motivated to reduce its overall energy consumption across its manufacturing sites, the customer initially sought interest in our GEM Steam Traps drawn to both the improved energy efficiency and the ‘maintenance-free’ benefit of our venturi technology.

Priding itself on its world-class facilities and state-of-the-art operations, the customer commented on the superiority of the venturi technology of our steam traps in comparison to the traditional ball float steam traps and mechanical steam traps currently being used. 
 

Following a successful GEM Steam Trap conversion at this site just before the global pandemic, Thermal Energy worked with the customer to identify further improvements and by calling on the recently expanded suite of technologies provided through the Sofame acquisition in 2021, a RBT® wastewater heat recovery system was selected and developed to extend the impact of previous work. 

Thermal Energy’s Flu-Ace® and Heatsponge® technologies capture waste heat from air while the RBT captures heat from hot wastewater, representing a new source of heat and energy saving for our customers.

This major equipment order 
marks the first Sofame system designed, engineered, and sold independently by Thermal Energy since the acquisition of Sofame in July 2021.    

The integration of Sofame technology has been important in continuing the relationship with this customer, allowing Thermal Energy to provide a comprehensive suite of proprietary technologies to deliver energy and carbon emission savings.  

“One of the key synergies and reasons for the Sofame Acquisition was the opportunity to use our sales channel to improve the reach of these fantastic products and sell them to a wider market as we have done here” said William Crossland, Thermal Energy CEO. 

This order totals almost $350,000 and includes $40,000 for additional GEM Steam Traps specified on new equipment at the plant and has a payback of approximately 2 years. In total, Thermal Energy has received orders over $900,000 in energy efficiency and carbon emission reduction solutions for this customer, across 7 sites.  

“For this customer it was imperative they find the right provider in order to establish an ongoing relationship to fit their ‘bigger picture’. Once again, our suite of technologies and engineering expertise proved to be the best solution” said William Crossland, Thermal Energy CEO. 

“We now have an exciting opportunity to not only replicate success across the manufacturer's other production sites, but to delve deeper into realms of energy efficiency and discover what can be achieved with our integrated technologies.” 

The project is expected to be completed and revenue earned within 9 months. 

Readers are encouraged to subscribe to TEI News to receive strategic news and updates directly to their inbox. 

For media enquiries contact: 
Thermal Energy International Inc. 
Canada: 613-723-6776 
Marketing@thermalenergy.com  
 
For investor enquiries: 
Thermal Energy International Inc. 
613-723-6776 
Investors@thermalenergy.com  
 
Notes to editors 
 
About Thermal Energy International Inc. 

Thermal Energy International Inc., ranked as one of Canada’s Top Growing Companies in 2021, 2020 and 2019, is an established global supplier of proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors. We save our customers money and improve their bottom line by reducing their fuel use and cutting their carbon emissions. Our customers include many Fortune 500 and other leading multinational companies across a wide range of industry sectors. 
 
Thermal Energy is a fully accredited professional engineering firm, and by providing a unique mix of proprietary products together with process, energy, and environmental engineering expertise, we can deliver unique turn-key energy and carbon emission reduction projects with significant financial and environmental benefits for our customers. 
 
Thermal Energy's proprietary products include GEM™ - Steam Traps, FLU-ACE® - Direct contact condensing heat recovery, HEATSPONGE – Indirect contact condensing heat recovery systems, and DRY-REX™ - Low-temperature biomass drying systems. 
 
Thermal Energy has engineering offices in Ottawa, Canada, Pittsburgh, USA, as well as Bristol, UK, with sales offices in Canada, UK, USA, Germany, Poland, Italy, and China. TEI’s common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG and on the OTCQB® Venture Market (“OTCQB”) in the United States operated by the OTC Markets Group Inc., under the symbol TMGEF. 
 
For more information, visit our website at www.thermalenergy.com, our investor website at investors-thermalenergy.com or follow us on Twitter @GoThermalEnergy 


<< Previous
Bullboard Posts
Next >>