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Thermal Energy Receives $335,000 Heat Recovery Order from District Heating Cooperative
(via Thenewswire.ca) OTTAWA, ONTARIO / TheNewswire / July 15 , 2015 - Thermal ...
About this update from Thermal Energy International Inc.
[{"type":"text","content":"Thermal Energy Receives $335,000 Heat Recovery Order from District Heating Cooperative(via Thenewswire.ca)\n\n \nOTTAWA, ONTARIO / TheNewswire / July 15, 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 it has received a purchase order valued at approximately $335 thousand. The purchase order is for one of Thermal Energy's proprietary FLU-ACE(R) heat recovery systems for use by a not-for-profit cooperative that provides steam-based district heating services for member businesses. \n\n \n \n\"This is a new customer and industry for Thermal Energy International, further demonstrating the utility of our energy efficiency solutions across many sectors,\" said William Crossland, CEO of Thermal Energy. \"This is also only the second time that we have sold our heat recovery equipment on its own, without installation. Typically we sell our heat recovery equipment on an installed turnkey basis. However, providing our customers the option of buying skid mounted equipment is a recent strategic initiative of the Company as it represents an additional and complementary distribution model and often a simpler and shorter sales process.\"\n\n \n \nFLU-ACE heat recovery technology greatly improves the fuel efficiency of boiler operations, provides a significant return on investment, and reduces environmental emissions. Up to 90% of the heat normally lost through boiler flue gas stack emissions is recycled by FLU-ACE. This is possible because the FLU-ACE unit's unique direct contact (gas/liquid) design enables optimal recovery of both sensible and latent heat, even in widely varying operating conditions. \n\n\n \nWith this order Thermal Energy's order backlog currently stands at approximately $6.8 million of which approximately $0.5 million is related to long-term contracts and is not expected to be reflected in revenue within the next 12 months. Thermal Energy includes in \"order backlog\" all purchase orders received for product or services that have not yet been reflected as revenue in the Company's published financial statements. \n\n\n \nAbout Thermal Energy International Inc.\n\n\n\n \nThermal Energy International Inc. is an established global supplier o...