Thermal Energy Receives Repeat Business from World-Leading, Diversified Healthcare Company
12 Mai 2014 - 1:00PM
Access Wire
OTTAWA, ONTARIO / ACCESSWIRE / May 12,
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 received a second purchase order for
its GEM(R) Steam Traps from a global
diversified healthcare company with annual revenues in excess of
$50 billion. The most recent order, valued at approximately $120
thousand, plus the initial $161 thousand GEM(R)
order from this customer announced February 18, 2014, results
in a total of $281 thousand in GEM(R)
orders from this customer in the last three months. The most
recent order is expected to be fulfilled and revenue earned over
the next six months.
"Like the initial order, this
most recent order is for replacing steam traps from another
manufacturer," said William Crossland, CEO of Thermal Energy. "Both
of these orders are expected to yield reductions in operating costs
and carbon emissions, highlighting the differences between our
GEM(R) steam trap systems and steam traps
produced by other manufacturers. Importantly, with operations
across the globe, this diversified healthcare company is another
example of a customer that could develop into an important
corporate account with further opportunities for repeat
business."
The GEM(R)
steam traps from both orders combined are expected to reduce
the healthcare company's annual operating costs by approximately
$275 thousand, and lower greenhouse gas emissions by approximately
964 tonnes annually, compared to the existing steam traps on site
from another manufacturer.
With this order Thermal
Energy's order backlog currently stands at approximately $5.8
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 installation and
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.
SOURCE: Thermal Energy International Inc.
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