Thermal Energy Awarded Initial Heat Recovery Order from a Global Diversified Mining and Materials Company; Order Marks New Ap...
18 Décembre 2013 - 5:24PM
Access Wire
OTTAWA, ONTARIO - December 18, 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 a heat recovery system purchase order valued at
approximately $200,000 from a global mining and materials
company.
"While the size of
this order is smaller than our typical heat recovery orders, it is
important for a number of reasons. First, it represents an entirely
new application for our heat recovery product offering in the
global mining and materials sector," said William Crossland, CEO of
Thermal Energy. "We believe this could be the start of a long-term
relationship with this diversified and vertically integrated global
company. With numerous mines and processing centres, there is
considerable potential for multiple orders from this customer, as
well as other companies in this sector. Secondly, this is the first
time we have sold one of our heat recovery units by itself without
installation. Selling our heat recovery systems as equipment is a
strategic goal of ours as it represents an additional and
complimentary distribution model typically with a shorter sales
cycle."
This heat recovery
system is expected to reduce the mining and materials company's
fuel costs by approximately $350,000 annually and has an expected
life of 20 years or more. The heat recovery system is also expected
to reduce the customer's greenhouse gas emissions by approximately
1,000 tonnes annually.
With this order
Thermal Energy's order backlog currently stands at approximately
$10.5 million of which approximately $0.5 million is related to
long term contracts and is not expected to be reflected in revenue
within the next 12 months. Thermal Energy includes in "order
backlog" all purchase orders received for product or services that
have not yet been reflected as revenue in the Company's published
quarterly financial statements.
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, U.K., United States,
Italy and China.
For more
information, visit our website at www.thermalenergy.com and follow us on Twitter at http://twitter.com/GoThermalEnergy.
William Crossland
President and CEO
Thermal Energy International Inc.
613-723-6776
bill.crossland@thermalenergy.com
Trevor Heisler
Investor Relations
Heisler
Communications
416-500-8061
trevor@heislercommunications.com
# # #
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 revenue
recognition for projects, statements about the anticipated
effectiveness and lifespan of the Company's products, statements
about the expected environmental effects and cost savings
associated with the Company's products and statements about the
Company's backlog 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. Orders in the Company's backlog as described above may
not turn into revenue due to many factors, some of which are
outside of the Company's control, including but not limited to the
Company's ability to deliver products on time and in accordance
with specifications and the continuing financial viability of the
customer. 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.
Thermal Energy (TSXV:TMG)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Thermal Energy (TSXV:TMG)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024