Leading Fortune 500 Food and Beverage Company Orders Additional GEM (tm) Steam Trap Systems From Thermal Energy International
22 Octobre 2013 - 11:00PM
Access Wire
OTTAWA, ONTARIO - October 22, 2013
- Thermal Energy International Inc. ("Thermal
Energy" or the "Company") (TSXV: TMG), a global provider of energy
efficiency and emission reduction solutions, announced today that
it has received three additional GEM(R) steam trap system orders from a
Fortune 500 food and beverage company.
"We are ecstatic that
this leading food and beverage company continues to choose Thermal
Energy to help reduce their annual fuel consumption and carbon
emissions," said William Crossland, CEO of Thermal Energy. "The
repeat business is a testament to the quality of our work to date
and the relationship we have been able to develop. While we are
pleased with these new orders, we also continue to develop
additional energy efficiency projects for this important
customer."
The three additional
GEM orders total, in aggregate, approximately $161 thousand and
represent the fifth, sixth and seventh orders from this customer.
Thermal Energy expects to complete installation of the additional
GEM(R) steam trap
systems and recognize the revenue associated with them over the
next six months.
Previously,
on September 16, 2013, the Company announced
it had received heat recovery and GEM orders totalling
approximately $1.7 million from the same Fortune 500 food and
beverage company, following an initial $300 thousand heat recovery
project announced in December 2012. This food and beverage company
has revenues of approximately $50 billion and more than 200,000
employees.
About
Thermal Energy International Inc.
Thermal
Energy International Inc. is an innovative cleantech company
providing a variety of proprietary and proven energy efficiency,
emission reduction, water efficiency, and bioenergy products and
solutions to the industrial, commercial and institutional markets
worldwide. Thermal Energy is also a fully accredited professional
engineering firm, and can offer advanced process and applications
engineering services. By providing a unique mix of proprietary
products together with process, energy, environmental, and
financial expertise Thermal Energy is able to deliver significant
financial and environmental benefits to its customers.
Thermal
Energy's products include; GEM(R) - Steam traps and condensate return systems,
FLU-ACE(R) - Direct contact condensing heat recovery, and
Dry
RexTM
- Low temperature biomass drying systems.
These award winning products are effective in a wide variety of
industries and application and have an excellent track record of
longevity, proven reliability and performance providing significant
energy savings, reduced GHG emissions, improved water efficiency,
lower maintenance costs, improved product quality and increased
production efficiency. Thermal Energy International Inc. has
offices in Ottawa, Canada as well as Bristol, UK, United States,
Italy and China.
For more
information, visit our website at www.thermalenergy.com.
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|William Crossland President and |Trevor Heisler Investor |
|CEO Thermal Energy International |Relations Heisler |
|Inc. 613-723-6776 |Communications 416-500-8061 |
|bill.crossland@thermalenergy.com |trevor@heislercommunications.com|
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This press
release contains forward-looking statements relating to, and
amongst other things, based on management's expectations, estimates
and projections, the anticipated effectiveness of the Company's
products and services and the timing of revenues to be received by
the Company. Statements relating to the expected installation and
revenue recognition for projects, statements about the anticipated
effectiveness and lifespan of the Company's products and statements
about the expected environmental effects and cost savings
associated with the Company's products are forward looking
statements. These statements are not guarantees of future
performance and involve a number of risks, uncertainties and
assumptions. Many factors, some of which are outside of the
Company's control, could cause events and results to differ
materially from those stated. Fulfilment of orders, installation of
product and activation of product could all be delayed for a number
of reasons, some of which are outside of the Company's control,
which would result in anticipated revenues from such projects being
delayed or in the most serious cases eliminated. Actions taken by
the Company's customers and factors inherent in the customer's
facilities but not anticipated by the Company can have a negative
impact on the expected effectiveness and lifespan of the Company's
products and on the expected environmental effects and cost savings
expected from the Company's products. Additional heat recovery and
GEM(R) steam trap projects being developed by the Company may not
result in orders for the Company's products. The Company disclaims
any obligation to publicly update or revise any such statements
except as required by law.
Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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