Business
Thermal Energy Receives First GEM Order from Multinational Wine and Spirits Company
(via Thenewswire.ca) OTTAWA, ONTARIO / TheNewswire / August 25, 2015 - Thermal Energ...
About this update from Thermal Energy International Inc.
[{"type":"text","content":"Thermal Energy Receives First GEM Order from Multinational Wine and Spirits Company(via Thenewswire.ca)\n \n \nOTTAWA, ONTARIO / TheNewswire / August 25, 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 $100 thousand for its proprietary GEM steam traps to be installed at a major multinational wine and spirits company. The order is expected to be fulfilled and revenue earned over the next six months.\n\n \n \n\"This is our third significant GEM order in under a month and our first time selling to this customer,\" said William Crossland, CEO of Thermal Energy. \"This customer is a global company that is focused on sustainability, including continuing to lower its overall energy consumption and reducing its greenhouse gas emissions. Our products are a natural fit in keeping with these objectives. Importantly, this customer has numerous sites around the world and with this order we have only partially penetrated one of those sites. We are hopeful that this is just the beginning of a long and growing relationship with this wine and spirits leader.\"\n\n \n \nThe GEM steam traps to be installed have a ten-year no-fail performance guarantee and will be replacing less efficient mechanical traps on site. The GEM steam traps to be installed are expected to provide a project payback of approximately one year. \n\n \n \nWith this order Thermal Energy's order backlog currently stands at approximately $8.1 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 quarterly financial statements. \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 cu...