Repeat customer are a good sign for TEI to promote ... IMO - We await the "next" of the delayed string of contracts - for the reason is below
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This order valued at approximately $1.1 million succeeds the order announced in September 2022, making this the fifth Turn-key energy efficiency and carbon emission reduction solution Thermal Energy has delivered for this customer since 2019. "We're extremely proud to be continuing our strong relationship with this customer, who has clear evidence that our solutions deliver, and therefore strives to replicate the success across more of its sites," said William Crossland, Thermal Energy CEO.
This Turn-key FLU-ACE® heat recovery project (a repeatable application at other of the customer's sites across Europe and North America)
is designed to recover waste energy from the dryer burner exhaust.
The solution is expected to deliver an estimated 17% reduction in fuel use and greenhouse gas emissions
saving the customer $490,000 annually
and providing a 50% - 90% reduction in the emission of particulate matter and acid gases such as SO2.
As a result, the customer has confidence they will remain below their EU ETS allowance to not only avoid fines or the need to purchase further allowances,
but to bank or sell unused allowances, both providing better positioning to ride the volatility of the carbon market an improving the project payback.
The project is expected to be completed and revenue earned within 9 months.