Business
Thermal Energy Sells Heat Recovery System to Packaged Foods Business
(via Thenewswire.ca) OTTAWA, ONTARIO / TNW-ACCESSWIRE / December 1, 2014 / Thermal ...
About this update from Thermal Energy International Inc.
[{"type":"text","content":"Thermal Energy Sells Heat Recovery System to Packaged Foods Business(via Thenewswire.ca)\n \n \nOTTAWA, ONTARIO / TNW-ACCESSWIRE / December 1, 2014 / 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, announced today that it has received an order valued at approximately $415 thousand from a packaged foods company for the purchase of a FLU-ACE(R) heat recovery system at one of its facilities. The order is expected to be fulfilled and revenue earned over the next six months.\n\n \n \n\"This is our first order from this packaged foods company,\" said William Crossland, CEO of Thermal Energy. \"We will be installing one of our proprietary heat recovery systems at one of this customer's facilities. The customer is a company with more than $1 billion in annual sales and more than 20 plant locations. We are hopeful that as our heat recovery system demonstrates its effectiveness, this customer will then order more of our energy efficiency products for this and other locations.\" \n\n\n \nWith this order Thermal Energy's order backlog currently stands at approximately $3.6 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 innovative cleantech company providing a variety of proprietary and proven energy efficiency, emission reduction, water efficiency, and bioenergy products and solutions to the industrial, commercial and institutional markets worldwide. Thermal Energy is also a fully accredited professional engineering firm, and can offer advanced process and applications engineering services. By providing a unique mix of proprietary products together with process, energy, environmental, and financial expertise Thermal Energy is able to deliver significant financial and environmental benefits to its customers. \n\n \n \nThermal Energy's products include; GEM(R) - Steam traps and condensate return syste...