transcripthttps://investors-thermalenergy.com/hubfs/Investor%20Website/Decks/Q1%202025%20Earnings/Transcript%20-%20Thermal%20Energy%20International%20Q1%202025%20Earnings%20Call.pdf?utm_referrer=https%3A%2F%2Finvestors-thermalenergy.com%2Fpresentations%3Futm_medium%3Demail%26_hsenc%3Dp2ANqtz-_47cxwuwoRMFcFtmGkS-1crQzpQo-zNrI1dHo8vHiM8NWURlDq0nRyAzKghHQtMkcpAONkaaLDGe6SN5d8zxmBGg2g3w%26_hsmi%3D331557846%26utm_content%3D331557846%26utm_source%3Dhs_email
"Russell Stanley
Beacon Securities
I lied, maybe if I could sneak in one more.
William Crossland
President and Chief Executive Officer, Thermal Energy International Inc
For sure, as many as you want, Russ, you can ask as many questions as you want.
Russell Stanley
Beacon Securities
Maybe on the contract from earlier this week noting that that's a new customer, I believe for
you. You know and you still have, as I understand it, a lot of runway you know for growth with
existing customers. So I'm just wondering how you're approaching sales at this point. Are you
out there hunting new customers or is the focus on the existing customer base given you know
the 1,000 sites that they operate globally? And I imagine you're doing both, but I'd love to hear
more about where the where the bias is at this point? Thanks.
William Crossland
President and Chief Executive Officer, Thermal Energy International Inc
Yeah, it's. I mean the bias is still with existing customers, but not a huge bias, so, you know, if I
was just a ballpark it, it's probably 60% of the time is spent targeting existing customers with
the general sales team. But on top of that, you know, with our area sales managers and our,
you know, our head of sales for both North America and Europe. But on top of that, we also
have you know a person that is the Director of Global Partnerships, where he is focused almost
exclusively on existing customers and building relationships to enter multiple sites.
But overall, it's probably about 60/40. Having said that, it's a very focused list, both with the
target customer, both with the existing customers and the target additional new customers.
You know it's not a shotgun approach, it's more of a rifle. We spend lots of time trying to
identify which customers make the most sense for us. We've got enough experience now, we
know what type of industries, what type of processes can definitely use our services. So, we're
Thermal Energy International Inc. (TSX-V: TMG)
Q1 2025 Earnings Call
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looking for the types of customers that have A, the capital to do it and B, the desire to do it with
some carbon emission reduction targets.
You know, and that's basically how this most recent project became available, the
confectionery company. We identified them. The sales team identified them as a customer that
had some aggressive carbon emission reduction targets. And our project that we’re doing for
them meets those targets and helps them achieve those goals. So that's always part of it.
So overall, it's about a roughly 60/40 split, but it in both cases it's a very focused approach.
xxx
Jesus Sanchez
Castaar Investment Fund
Makes a lot of sense. Another question if may I about the UK facility, how things are going in
this country? How are the operation’s orders? And if we expect what kind of revenue additional
revenue we expect from this expansion in the UK?
William Crossland
President and Chief Executive Officer, Thermal Energy International Inc
Yeah, I mean, I wouldn't expect additional revenue from the UK just because of the facility
expansion. We moved to the new facility because the revenue had grown so significantly,
especially the GEM traps. That's where the GEM traps are fabricated and finished. And we were
just totally out of space. And so, this new facility has, you know we say two times, but really, it's
more like three times the space and the throughput capacity that the previous space did. So, it's
really sort of setting us up to be able to continue growing the revenue, because again, like I
said, at the last facility we were just totally out of space.
Huh? My comment