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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

Comment by Possibleidiot01on Sep 19, 2024 7:38am
82 Views
Post# 36230514

RE:Wow

RE:WowDisappointing.

"In this regard, our continued growth in annual revenue and profitability is especially noteworthy considering the exceptional fourth quarter we had in the prior year, which included revenue from a number of exceptionally large GEM orders, including $1.9 million from two major customers alone. Despite the lower GEM sales this quarter, our GEM sales for the year were still the highest ever and we also had significant growth across our business."

"We reinvested more than $1.5 million in the future growth of the business in fiscal 2024, including adding 9 net new team members, moving to a new UK facility and more than doubling the throughput capacity, and developing a proprietary mobile app to help us more quickly and efficiently identify energy-saving and carbon-reduction project opportunities. While these investments have yet to impact top-line growth, they better position us to capitalize on the strong momentum in the marketplace demonstrated by the growth in order intake and order backlog, as well as the increased interest in project development agreements from our customers."

Seems like we added production capacity for GEM traps in anticipation of a sales surge that hasn't come.

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