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Thermal Energy Awarded First Heat Recovery Project with Multinational Snack Food Company
(via TheNewswire) OTTAWA, ONTARIO / TheNewswire / May 21, 2019 - Thermal Energy Internati...
About this update from Thermal Energy International Inc.
[{"type":"text","content":"Thermal Energy Awarded First Heat Recovery Project with Multinational Snack Food Company(via TheNewswire)\n\n \nOTTAWA, ONTARIO / TheNewswire / May 21, 2019 - Thermal Energy International Inc. (\"Thermal Energy\" or the \"Company\") (TSX-V: TMG), a global provider of energy efficiency and emissions reduction solutions, has been commissioned by a leading snack food manufacturer to install a heat recovery system designed to support its sustainability goals. \n\n\n \nThe custom-designed condensing project, valued at over $1.5 million, is the first of its kind to be developed with this multinational snack company. The technology will be installed on the site's process exhaust to recover heat that would otherwise have been wasted. This recaptured energy will displace steam and gas currently used to heat process and cleaning water as well as provide space heating for the facility itself.\n\n\n \nUpon commissioning, the installation will provide an expected natural gas saving of almost $400,000 per year. The annual reduction in CO2 emissions will be approximately 4,860 tonnes. This is the equivalent to removing 1,040 cars from the roads every year and is in line with a company-wide commitment to significantly reduce greenhouse gas emissions. \n\n\n \n\"This company is increasingly turning to us to assist them with their sustainability and carbon emission reduction goals and this project is just one of a number of initiatives we are developing with this client involving a variety of our products, services and solutions.\" said William Crossland, CEO of Thermal Energy.\n\n\n \n\"With up to 50% of industrial energy production lost as waste heat, the food and beverage sector represents an excellent global opportunity. The large amount of waste heat available and high energy requirement at these sites means we're able to help in various capacities with solutions that span our entire technology portfolio. As a result, this project is an excellent example of our organic growth strategy consistently being realised.\" \n\n\n \nThe scope of this order covers all design, construction, commissioning and training for the system. The project is expected to be completed and revenue earned within nine months. \n\n\n \nFor more information on the products and services available from Thermal Energy, or to download an investor pack visit www.thermalenerg...