Thermal Energy International Inc V.TMG

Ottawa Business Journal

[greendaze]

PEOPLE:

William Crossland

A fast-growing Ottawa cleantech company has landed another significant contract for its energy-saving system, this time with a major health-care organization.

Thermal Energy International (TSX-V:TMG) said this week it’s signed a $1.53-million deal with an unnamed hospital group to supply its heat-recovery technology, known as Flu-Ace, at two facilities managed by the health-care provider.

The company said the projects include a newly designed system for one hospital and an extension of an existing system previously installed by Thermal Energy at a second hospital.

Thermal Energy says the system is expected to save its customer more than $400,000 a year in fuel costs and reduce the hospitals’ carbon emissions by 2,300 tonnes a year. 

 

It’s the second big contract win this month for Thermal Energy, which inked a deal worth $840,000 with a multinational food products company in early October that’s expected to deliver energy savings of more than $300,000 annually. 

The firm said earlier this year it planned to step up its R&D efforts and launch new employee training programs in an effort to make itself more competitive in a post-COVID world. Thermal Energy recently cracked the Globe and Mail’s list of Canada’s 400 top-growing companies in 2020, with three-year revenue growth of 70 per cent.

The Ottawa company is also coming off a fiscal year in which it reported record revenues of $21.4 million, up two per cent from a year earlier.

Although the firm’s fourth-quarter revenues took a hit due to the COVID-19 pandemic, CEO William Crossland said the company – which relies on detailed site surveys and facility visits to tailor its products to customers’ needs – is in good shape to bounce back quickly once measures aimed at curbing the spread of the virus are eased.

 

In a recent statement, Crossland said the firm has booked $5.7 million worth of new orders since its current fiscal year began on June 1, a “significantly better” total than at the same point in the previous two years.

“As we enter the next financial year, we have a clear roadmap forward,” he said. “With year-end cash balances of $4.8 million and working capital of $2.9 million, each of which represent the highest year-end levels in over 10 years, we are strategically positioned to emerge from this challenging period in a strong position.”

 

[greendaze]

The really exiting part of this latest phase (pandemic) of operations is that TEI has been forced online with sales , engineering and networking . Hopefully they now understand that they need their promotion to be online in a much more robust and  more aggressive stance . Like cleaning up the website and hire somebody that understands how twitter et al works . If they knew how amateurishly

[canyousayiii]

I am going ro be a bit kinder. I dont think they are really trying to promote the srock. What was embarrassing is the OBJ article and how they interpreted some things starting at the beginning with "fast growing" that wrote down most of its booked assets. It would be somewhat less embarrassing if it wasnt the OTTAWA business journal, the city that had seen many fast growing companies

[greendaze]

Gin and Tums ? Stay grumpy . 

[canyousayiii]

Sleeping pills wearing off? About time. Careful with your other favorite investment. You are the only fan among dozens of aliases created in september and october...same style, same type of posts so it could be the same person or a couple of individuals. You stick out like a sore thumb. It is clear where that one is headed, don't lose your money. Very friendly advice.

[panapple42]

I assume you will attend the AGM, but I am guessing no one will ever know for sure.

[greendaze]

You assume too much . I only invest if I think I can get a double . When it does double , I take out my principal. Like my .035 TEI shares , I took a huge wack . I did the same with my TaaS shares . When they run like they did after the bottom of the pandemic pricing .I took profits . I've told you this , what , four times ?  Like I've been saying . I've been mustering cash for my

[canyousayiii]

Why don't you post something informing? But I do get why some of you are happy flipping TMG. I just think that is not how management should make money for some of its shareholders. Management has a lot of control of what they do, but I do recognize that it takes skill to really make something big. Some folk develop a business and grow it into a franchise and then there are franchisees. On a