Thermal Energy Provides Update on Product Development Project Targeting Petrochemical Industry
05 Mai 2014 - 1:00PM
Access Wire
OTTAWA, ONTARIO / ACCESSWIRE / May 5, 2014 / 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 obtained a licence to
conduct in situ beta testing of a proprietary corrosion resistant
coating. This in situ testing is an extension of the long-term
product development project first announced in February 2012,
whereby the Company is working on developing cost-effective waste
heat recovery systems for use in petrochemical re-heating furnaces,
which often generate corrosive exhaust gases due to the nature of
the fuel source.
"The petrochemical industry remains a key strategic target for
Thermal Energy," said William Crossland, President and CEO of
Thermal Energy. "However, the corrosive environment is a key
challenge we need to address as part of our ongoing product
development project for petrochemical applications. As such, we
have acquired the license to test a new corrosion-resistant
coating, which we will be testing on our heat recovery equipment
over the next two years to see how well the coating protects our
equipment while at the same time allowing effective heat transfer.
If the testing of the coating proves successful we believe it will
increase the effectiveness of our proprietary energy efficiency
solutions for this significant energy consuming industry and other
corrosive environments worldwide."
If the product development project is successful, Thermal
Energy's technology could help refineries achieve greater energy
efficiency, reducing a refinery's fuel consumption, saving millions
of dollars in fuel costs. From an environmental perspective, the
technology has the potential to significantly reduce emissions and
recover up to 90 percent of the water vapour in the emissions.
Although initially focusing on the Chinese petrochemical market,
this technology could open up significant new markets for Thermal
Energy's products in the petrochemical and other industries
worldwide.
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.
The effects that a successful beta test of proprietary coating may
have on the Company's products and their effectiveness, the
anticipated results that might be experienced by customers using
the Company's products with such coating and the ability of
products with the coating to support the Company's entry into new
markets are all examples of 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. Many factors,
some of which are outside of the Company's control, could
materially affect the outcome of the beta testing, the effects of
the use of the coating in any specific deployment, the Company's
ability to capitalize on any new product offering incorporating the
coating and market acceptance of 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.
SOURCE: Thermal Energy International Inc.
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