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Thermal Energy Receives $1.5 Million Heat Recovery Order from a Multinational Confectionery Company
Turn-key project well-aligned with customer's aggressive 2030 carbon emissions reduction targets ...
About this update from Thermal Energy International Inc.
[{"type":"text","content":"Thermal Energy Receives $1.5 Million Heat Recovery Order from a Multinational Confectionery CompanyTurn-key project well-aligned with customer's aggressive 2030 carbon emissions reduction targetsOttawa, Ontario--(Newsfile Corp. - October 28, 2024) - Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) (\"Thermal Energy\" or the \"Company\"), a provider of innovative energy efficiency and carbon emission reduction solutions to major corporations around the world, has received an order for a heat recovery project valued at approximately $1.5 million from a multinational confectionary company. All figures are shown in CAD.Commenting on the order, William Crossland, CEO of Thermal Energy, said: \"This order is notable for several reasons. First, this turn-key project includes installing a Flu-Ace® heat recovery system and replacing two OEM economizers with two of our HeatSponge® economizers. Second, this is a new customer for Thermal Energy. Third, the project is for a Canadian site, but the customer is a multinational company with more than 20 plants around the world. And finally, this project will provide a significant contribution to the customer's pursuit of their aggressive 2030 carbon emissions reduction targets.\" Environmental Benefits and Fuel SavingsBy recovering waste heat this turnkey project is expected to reduce the site's natural gas consumption and related CO2 emissions by 16%, representing a meaningful amount of the customer's 2030 carbon reduction goals. The project is expected to be completed and revenue earned within 12 months.Readers are encouraged to subscribe to TEI News to receive strategic news and updates directly to their inbox.ENDS For media enquiries contact:Thermal Energy International Inc.Canada: 613-723-6776UK: +44 (0)117 917 [email protected] investor enquiries:William CrosslandPresident and CEOThermal Energy International [email protected] Notes to editorsAbout Thermal Energy International Inc.Thermal Energy International Inc. provides energy efficiency and emissions reduction solutions to Fortune 500 and other large multinational companies. We save our customers money by reducing their fuel use and cutting their carbon emissions. Thermal Energy's proprietary and proven solutions can recover up to 80% of energy los...