Business
Thermal Energy Receives $1,015,000 Heat Recovery Order from a Leading Food Products Business
(via Thenewswire.ca) OTTAWA, ONTARIO / TheNewswire / May 3, 2016 - Thermal Energy...
About this update from Thermal Energy International Inc.
[{"type":"text","content":"Thermal Energy Receives $1,015,000 Heat Recovery Order from a Leading Food Products Business(via Thenewswire.ca)\n \n \nOTTAWA, ONTARIO / TheNewswire / May 3, 2016 - Thermal Energy International Inc. (\"Thermal Energy\" or the \"Company\") (TSXV: TMG), a global provider of proprietary energy efficiency solutions to the industrial, commercial and institutional sectors world-wide, today announced that it has received an order valued at approximately $1,015,000 from a leading food products business for the supply and installation of one of the Company's proprietary FLU-ACE(R) heat recovery systems. The order is expected to be fulfilled and revenue earned over the next six months.\n\n \n \n\"This order represents another example of our sales focus on customers with multiple needs that can be met with Thermal Energy's proven solutions. It also marks the first time we have sold a FLU-ACE system in Italy,\" said William Crossland, CEO of Thermal Energy. \"We first sold GEMTM steam traps to this customer in January of 2015. Not only did that GEM conversion exceed the customer's expectations and generate savings faster than the project's proposed payback period, it opened the door for this latest order. Our heat recovery technology is expected to generate even more savings for this customer and provide a project payback of under two years. Importantly, this customer has more than 30 other production sites around the world. In addition, both our FLU-ACE heat recovery and GEM steam trap systems have wide applications in this industry. We see further opportunities to implement our complementary products for this customer at their numerous sites.\" \n\n \n \nThe FLU-ACE heat recovery system and GEM steam traps at this site are expected to generate combined savings of approximately $671 thousand annually, resulting in a combined project payback of just 1.6 years. \n\n \n \n\"In addition to the significant energy savings, our two technologies are expected to reduce the site's annual greenhouse gas emissions by approximately 2,621 tonnes. That is equivalent to the annual emissions from 552 automobiles or the carbon sequestered by 2,148 acres of foresti. And this is just at this one site. We've had similar success reducing the carbon footprints of our industrial and institutional customers around the world,\" said Mr. Crossland.\n\n \n \nFor mor...