(TheNewswire)
OTTAWA, ONTARIO – TheNewswire - March 29 , 2022 – Thermal Energy International Inc. (“ Thermal Energy or the “Company”) (TSXV: TMG ) (OTC:TMGEF), a cleantech company and global provider of innovative and proprietary industrial carbon emissions reduction solutions to some of the world’s largest companies, has shared a spring business update on www.thermalenergy.com.
In this business update CEO William Crossland highlights some of Thermal Energy’s core strategic initiatives and provides updates on notable activities, orders, the market and TEI’s competitive position, including:
-
Continued positive market changes
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Custom equipment continues to thrive – order intake 43% greater than pre-Covid levels
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Record levels of paid turn-key Project Development Agreements (“PDAs”) - double the F2019 pre-covid levels
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Secured first PDA for an Energy as a Service (“ EaaS”) project from one of our best and largest corporate customers
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Repeat order levels from our multinational customers remain high at 70-80%
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Membership of global coalition of large thermal energy users that represent approximately $1.3 trillion in market capital
This spring business update is available on the company’s website here.
Readers are encouraged to subscribe to TEI News to receive strategic news and updates directly to their inbox.
ENDS
For media enquiries
contact:
Thermal Energy International Inc.
Canada: 613-723-6776
UK: +44 (0)117 917 217
Marketing@thermalenergy.com
For investor enquiries:
Thermal Energy International Inc.
613-723-6776
Investors@thermalenergy.com
About Thermal Energy
International Inc.
Thermal Energy International Inc., ranked as one of
Canada’s Top Growing
Companies
in 2020 and 2019, is an
established global supplier of proprietary, proven energy efficiency
and emissions reduction solutions to the industrial and institutional
sectors. We save our customers money and improve their bottom line by
reducing their fuel use and cutting their carbon emissions. Our
customers include many Fortune 500 and other leading multinational
companies across a wide range of industry sectors.
Thermal Energy is a fully accredited professional
engineering firm, and by providing a unique mix of
proprietary products together with process, energy, and
environmental engineering expertise, we can deliver unique turn-key
projects with significant financial and environmental benefits for our
customers.
Thermal Energy's proprietary products include:
GEM
™ - Steam Traps,
FLU-ACE
® - Direct contact condensing heat
recovery,
HEATSPONGE
– Indirect contact condensing heat
recovery systems, and
DRY-REX
™ - Low temperature biomass drying
systems.
Thermal Energy has engineering offices in Ottawa,
Canada, Pittsburgh, USA, as well as Bristol, UK, with sales offices in
Canada, UK, USA, Germany, Poland, Italy, and China. TEI’s common
shares are traded on the TSX Venture Exchange (TSX-V) under the symbol
TMG
and the OTCQB® Venture Market
(“OTCQB”) in the United States operated by the OTC Markets Group
Inc., under the symbol
TMGEF
.
For more information, visit our website at
www.thermalenergy.com
and follow us on Twitter at .
Cautionary Statements
This press release contains forward-looking statements
relating to, and amongst other things, based on management’s
expectations, estimates and projections, the anticipated effectiveness
of the Company’s products and services and the timing of revenues to
be received by the Company. For example, information as to the
expected benefits to Thermal Energy International and its customers
from the new facility are forward looking statements. These statements
are not guarantees of future performance and involve a number of
risks, uncertainties and assumptions. Many factors, some of which are
outside of the Company’s control, could cause events and results to
differ materially from those stated. The Company disclaims any
obligation to publicly update or revise any such statements except as
required by law.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
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