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Thermal Energy Receives $965,000 Hospital Heat Recovery Order
(via Thenewswire.ca) OTTAWA, ONTARIO / TheNewswire / November 5, 2015 - Thermal E...
About this update from Thermal Energy International Inc.
[{"type":"text","content":"Thermal Energy Receives $965,000 Hospital Heat Recovery Order(via Thenewswire.ca)\n \n \nOTTAWA, ONTARIO / TheNewswire / November 5, 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 $965 thousand for the installation of a heat recovery system to a hospital's boiler and Combined Heat and Power (the \"CHP\") systems. The order is expected to be fulfilled and revenue earned over the next six months. \n\n \n \n\"This is another great example of cross-selling to customers that have already realized substantial savings provided by our products,\" said William Crossland, CEO of Thermal Energy. \"We first sold our GEM steam traps to this hospital about four and a half years ago. Once we install the heat recovery system associated with this purchase order, the site will have been fully converted to both our venturi design steam traps and our heat recovery technology. By using one, or a combination of our energy efficiency solutions, many hospitals have been able to significantly reduce their fuel bills. \"\n\n \n \nThe heat recovery system to be installed will recover the energy from the waste heat generated in the flue gases at the boilers and CHP unit. The waste heat will be used to generate hot water for use in hydronic heating, domestic hot water and boiler make up. \n\n \n \nThe heat recovery system is expected to provide the hospital with an estimated $366 thousand in additional annual savings, resulting in a payback period of approximately 2.6 years. In total, the Company's products (including the GEM system installed previously) are expected to reduce the hospital's annual energy consumption by approximately 28%.\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...