Thermon Highlights Enhanced Organic Growth Opportunity Driven by Accelerating Momentum from New Products in Data Centers

About this update from Thermon Group Holdings, Inc.

AUSTIN, TX / ACCESS Newswire / April 20, 2026 / Thermon Group Holdings, Inc. (NYSE:THR) ("Thermon"), today announced accelerating order and quoting activity across key new product platforms, led by strong demand for its liquid load bank solutions serving the rapidly expanding data center market. The company's quote log for liquid load banks has expanded to over $100 million as of April 2026, up nearly 70% from just two months ago. "The rapid expansion we are seeing in our bid pipeline and quoting activity for liquid load banks underscores the strength of early customer adoption in the data center market," said Bruce Thames, President and Chief Executive Officer of Thermon. "Based on our current visibility, we believe these and other new product offerings could contribute approximately 5-7% to organic growth on top of the growth we are seeing across the business. In addition, the rebound in capital project activity, up 22% through the first three quarters of fiscal 2026, along with the activity we are seeing across quoting, backlog, and manufacturing utilization, provides continued evidence of accelerating momentum across both our core and emerging markets." "To support these favorable market trends and new product momentum, Thermon has expanded manufacturing capacity, reflecting our confidence in the long‑term demand strength. The disciplined execution of our Decarbonization, Digitization, and Diversification strategy positions us well to capitalize on secular trends reshaping the industrial landscape, including the growth of data centers, increasing power demand, and accelerating electrification," Thames concluded. Rapid Adoption of AI Data Centers Drives Momentum in Liquid Load Bank Solutions The rapid shift toward liquid‑cooled data centers-driven by unprecedented investment in artificial intelligence (AI)-is creating a fast‑growing market for liquid load banks used to validate mission‑critical cooling systems and power infrastructure. Thermon entered this market approximately eight months ago and has moved quickly to establish itself as a trusted provider of testing solutions. Since product launch, the company has secured orders for approximately 80 liquid load bank units. Customer interest continues to accelerate, with Thermon's multi-year opportunity pipeline for liquid load bank solutions expanding to...

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