Ottawa-based clean tech venture firm, Thermal Energy International, has announced a second, third and fourth order from a Fortune 500 food and beverage giant,
bringing $1.7m in sales to the $6.53m small cap since late 2012.
The company, which develops heat recovery systems and steam trap solutions, says it is developing additional projects at ‘multiple additional sites’ for the same company.
This news comes on the back of a
$780,000 order from a hospital a week ago, and a further $800,000 hospital order in June, with a
$3.6 million order from a pulp and paper firm before that.
Thermal was named one of Canada’s fastest growing companies in June, with Q3 results showing revenue up 17% to $4.2m, and gross profit at $2.9m for the quarter, up from $1.4m the previous year.
The firm claims to typically provide clients with between 10% and 14% fuel consumption savings and reduces carbon emissions by 4,000 tonnes annually, while recovering 4 million gallons of water every year.