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Thermal Energy Receives $1.82 Million Heat Recovery Order from Fortune 500 Food and Beverage Leader
(via TheNewswire) OTTAWA, ONTARIO / TheNewswire / July 6, 2017 - Thermal Energy ...
About this update from Thermal Energy International Inc.
[{"type":"text","content":"Thermal Energy Receives $1.82 Million Heat Recovery Order from Fortune 500 Food and Beverage Leader(via TheNewswire)\n\n \n\n\n \n \nOTTAWA, ONTARIO / TheNewswire / July 6, 2017 - Thermal Energy International Inc. (\"Thermal Energy\" or the \"Company\") (TSX-V: TMG), a global provider of proprietary energy efficiency solutions to the industrial, commercial and institutional sectors, has received a $1.82 million order from a leading Fortune 500 food and beverage company for one of the Company's proprietary FLU-ACE(R) heat recovery systems. \n\n\n \nThe heat recovery system is expected to provide the customer with utility savings of $360 thousand per year, primarily in the form of natural gas savings. The FLU-ACE system will reduce the customer's annual water usage by approximately 7.6 million litres and its carbon emissions by 2,300 tonnes. The project is expected to be completed and revenue earned over the next six to nine months. All figures are in Canadian dollars. \n\n \n \n\"Including this latest order, we have now sold our heat recovery systems to six of this customer's sites, as well as having partially or fully converted 28 of their sites over to our GEM(TM) venturi orifice steam traps,\" said William Crossland, CEO of Thermal Energy. \"This customer signed a global pricing agreement with us back in June of 2015 and we continue to work with them to identify potential projects at other sites. The ongoing business we continue to receive from this global leader is a huge testament to our commitment to partnering with our customers to help them realize significant gains in energy productivity and reductions in greenhouse gas emissions. With this latest order and our products installed to date, doing business with Thermal Energy International is expected to provide this customer with estimated annual energy savings of $2.4 million, estimated annual water savings of 106.5 million litres valued at over $359 thousand, and estimated annual carbon emission reduction savings of 19 thousand tonnes.\"\n\n \n \nNatural gas savings are derived from preheating boiler makeup water and process flows upstream of existing regeneration and steam heat exchangers thereby lowering steam demand and boiler fuel consumption.\n\n \n \nWater savings are based on the fact that the FLU-ACE system continually condenses water vapour formed in the product...