Business
Thermal Energy Receives $229,000 Purchase Order for Expansion of Gypsum Company's Heat Recovery System
(via Thenewswire.ca) OTTAWA, ONTARIO / TheNewswire / October 26, 2015 - Thermal Ener...
About this update from Thermal Energy International Inc.
[{"type":"text","content":"Thermal Energy Receives $229,000 Purchase Order for Expansion of Gypsum Company's Heat Recovery System(via Thenewswire.ca)\n \n \nOTTAWA, ONTARIO / TheNewswire / October 26, 2015 - 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 a purchase order valued at approximately $229,000 for the expansion of the heat recovery system installed by the Company earlier this year. The Company announced the initial order for a trial-sized heat recovery system from this customer in January of this year. The order is expected to be fulfilled and revenue earned over the next six months.\n\n \n \n\"This follow-on order is a direct reflection of the benefits derived from the heat recovery system we installed earlier this year,\" said William Crossland, CEO of Thermal Energy. \"When we announced the initial order from this customer, we indicated that it was for a trial-sized system and that once the system demonstrated its effectiveness we believed the customer would move forward with an expanded system, which this current order represents. We remain focused on winning more business with multi-site customers, and this customer has numerous other sites around the world that could benefit from our proven energy efficiency solutions.\"\n\n \n \nThe original heat recovery project together with this expansion project is expected to provide the customer with energy savings totalling approximately $216,000 annually, resulting in a an aggregate project payback of less than 2.5 years.\n\n \n \nAbout Thermal Energy International Inc.\n\n\n\n \nThermal Energy International Inc. is an established global supplier of proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors worldwide. We save our customers money and improve their bottom line by reducing their fuel use and cutting their carbon emissions. Our customers include a large number of Fortune 500 and other leading multinational companies across a wide range of industry sectors.\n\n \n \nThermal Energy is also a fully accredited professional engineering firm, and can offer advanced process and applications engineering services. \n\n \n \nBy providin...