RE: visitSign a Cooperation Agreement
5/12/03
Thermal Energy International Inc. (the 'Corporation') is pleased to announce that after several months of working together, Thermal Energy and Johnson Controls L.P. (www.jci.com), have signed a unique cooperation agreement whereby both companies can benefit from an association and collaboration on specific end user energy retrofit projects within Canada.
Both companies have agreed to cooperate in the marketing and implementation of selected energy retrofit systems, solutions and services as they relate to energy recovery and out-based energy conservation projects in the domestic marketplace. Additionally, Johnson Controls L.P. will include Thermal Energy's technology in its industrial business solutions portfolio. The cooperation agreement contemplates, among other things, that both companies will collaborate on product training for relevant marketing and sales personnel, participate in joint product, services and technical presentations, develop a joint marketing strategy, and provide demonstrations and client testimonials for reference installations. It is anticipated that Johnson Controls L.P. will assume the lead marketing and sales role. The first sales contract generated by this new agreement was previously announced by Thermal Energy on April 15, 2003.
'We are pleased to have this opportunity to cooperate with the Energy Savings Performance Contracting division of Johnson Controls L.P. to develop selected projects', stated Tom Hinke, P.Eng, President & CEO of Thermal Energy International Inc. 'Thermal's proven energy conservation and environmental compliance technologies in combination with our advanced energy retrofit and process solutions engineering services, are a good fit with Johnson Controls'energy solutions team for delivering optimum guaranteed alternatives for energy cost savings and air pollutant reduction. This cooperative collaboration will compliment our diversified energy retrofit solutions business development strategy, in order to increase sales in the future'.
'Johnson Controls is expert at providing innovative ways to improve the performance of facilities', commented Doug Beebe, General Manager Canada, Johnson Controls L.P. 'By integrating Thermal Energy's technology and expertise with our world-class solutions, we envision creating new market opportunities and maintaining our leadership role and competitive advantage in the growing energy recovery industry in Canada. This collaboration definitely adds value to our industrial solutions portfolio and across all of our other key vertical markets. We look forward to jointly pursuing the new prospects this agreement will create'.
About Thermal Energy
Thermal Energy International Inc. is a leading environmental and energy technology company since 1986. Headquartered in Ottawa, Canada, the Company is an established designer, developer, fabricator, and supplier of superior proprietary and patented environmental compliance (air) and energy conservation, renewable energy products and technology solutions. The Company is also a fully accredited professional engineering firm, and offers advanced process and applications engineering services. FLU-ACE(R) is a registered trademark of Thermal Energy.