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Thermal Energy International Inc. (TMGEF) is a profitable cleantech company that provides innovative energy efficiency and carbon emission reduction solutions to major corporations globally. With a strong focus on turn-key projects and custom equipment, the company has shown significant growth in revenue and gross profit in recent quarters, backed by robust business development activity and a continuously expanding order backlog. Recent projects, like the $1.9 million carbon reduction solution for a global materials company, exemplify Thermal Energy's commitment to helping its customers achieve ambitious environmental targets while delivering substantial cost savings. With a seasoned team of engineers, a comprehensive understanding of various industries, and a reputation for technological innovation, Thermal Energy is well-positioned to drive positive environmental impact and savings for its clients.
Thermal Energy International reported record financial results for Q1 2025 (ended August 31, 2024). Revenue increased 63% year-over-year to $8.5 million, driven by strong turn-key heat recovery projects. The company achieved EBITDA of $0.6 million (up 33%) and net income of $0.3 million (up 91%). The order backlog stood at $13.5 million at quarter-end, rising to $18.4 million by October 28, 2024. Trailing twelve-month revenue reached a new high of $29.2 million, up 26% year-over-year, despite increased operating expenses from growth investments.
Thermal Energy International has secured a $1.5 million CAD heat recovery project order from a multinational confectionery company. The turn-key project involves installing a Flu-Ace® heat recovery system and replacing two OEM economizers with HeatSponge® economizers at a Canadian site. The implementation is expected to reduce the facility's natural gas consumption and CO2 emissions by 16%, contributing significantly to the customer's 2030 carbon reduction goals. The project is anticipated to be completed within 12 months.
Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF), a provider of innovative energy efficiency and carbon emission reduction solutions, will release its fiscal 2025 first quarter financial results on October 30, 2024, before market open. The company will host an earnings conference call and webcast at 8:30 a.m. ET the same day to review the results.
A live webcast with slide presentation will be available at https://bit.ly/TMG2025Q1. Participants can join via MS Teams or dial in for audio-only access. The dial-in number for Canada is +1 437-703-4481, with Conference ID: 684 271 075#. Local numbers are also available. Financial statements and management's discussion will be filed on SEDAR+ and available on Thermal Energy's website following the release.
Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF) has secured a $2.2 million order for a heat recovery and heat pump project from a leading multinational pharmaceutical company. This marks the second heat recovery order under their global master services agreement. The project includes both Flu-Ace and HeatSponge heat recovery systems and two heat pumps.
Key highlights:
- Expected to deliver nearly $1 million in annual fuel savings
- Projected to reduce CO2 emissions by 1,199 tons per year, a 14% reduction in site emissions
- Project completion and revenue expected within 12 months
- First project incorporating heat pumps to efficiently convert recovered thermal energy to higher temperatures
CEO William Crossland emphasized the project's importance in helping the customer meet its 2030 emission reduction commitments cost-effectively. The company continues to discuss additional project opportunities with this client, which has about 40 sites of interest worldwide.
Thermal Energy International (TSXV: TMG) (OTCQB: TMGEF) reported record financial results for fiscal 2024. Key highlights include:
- Revenue up 23% to $25.9 million for the year
- Gross profit up 30% to $12.5 million
- EBITDA up 15% to $2.0 million
- Net income up 36% to $1.0 million
- Order intake up 8% to $29.5 million
- Order backlog up 43% to $18.7 million
The company reinvested $1.5 million in growth initiatives, including expanding its team and production capacity. While Q4 results were lower year-over-year due to exceptional GEM orders in the prior year, annual performance showed significant growth across the business. The current order backlog stands at $21.3 million as of September 18, 2024.
Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF), a provider of innovative energy efficiency and carbon emission reduction solutions, will release its fiscal 2024 fourth quarter and year-end financial results on September 19, 2024, before market open. Management will host an earnings conference call and webcast at 8:30 a.m. ET the same day to review the results. The webcast will be accessible via Microsoft Teams, with a dial-in option available for those unable to join via Teams. Financial statements and management's discussion and analysis will be filed on SEDAR+ and available on Thermal Energy's website following the release.
Thermal Energy International Inc. (TSX-V:TMG, OTCQB:TMGEF), a global provider of innovative energy efficiency and carbon emission reduction solutions, is set to present at the Planet MicroCap Showcase: Vancouver 2024 on September 26, 2024. CEO William Crossland will highlight the company's investment potential, focusing on:
- Proprietary solutions offering high ROI and quick payback
- Significant repeat business from Fortune 500 and large multinational customers
- Track record of profitable growth
The presentation will be accessible via webcast at 12 PM Eastern Time. Thermal Energy will also participate in 1x1 meetings at the Fairmont Waterfront Vancouver. Investors can register for the event and book meetings through the provided links. A recent YouTube video featuring William Crossland discussing the company's project pipeline and value proposition is available for viewing.
Thermal Energy International Inc. (TSXV: TMG) (OTCQB: TMGEF), a provider of innovative energy efficiency and carbon emission reduction solutions, announced that CEO William Crossland has published a letter to shareholders. The letter, available on the company's website, offers insights into:
1. Thermal Energy's progress in fiscal 2024
2. Investments made for continued growth
3. Outlook for fiscal 2025
4. Significance of starting the year with the highest order backlog in company history
Shareholders and interested parties are encouraged to subscribe to TEI News for direct updates. This communication aims to provide transparency and keep stakeholders informed about the company's strategic direction and performance.
Thermal Energy International (TSXV: TMG) (OTCQB: TMGEF) has announced record order intake for its fiscal year ended May 31, 2024, totaling $29.7 million. This represents a 9% increase year-over-year and a 151% increase over the past two years. The company's order backlog at the end of May was up approximately 40% compared to last year and over 200% higher than two years ago.
CEO William Crossland highlighted record order intakes for turn-key heat recovery solutions and the Boilerroom Equipment, Inc. subsidiary, as well as the second-highest annual order intake for the GEM business. These achievements reflect strong demand for Thermal Energy's efficiency and emission reduction solutions, demonstrating customer trust in their technology and expertise.
Thermal Energy International Inc. announced a $1.9 million turn-key heat recovery project for a global materials company to help achieve carbon emission reduction targets. The project is expected to save the customer over $980,000 annually, reduce CO2 emissions by 977 tonnes per year, and improve pollution prevention and control. The customer's engagement with the Science Based Targets initiative demonstrates a commitment to a low-carbon economy. The project is the result of a collaborative effort between the customer and Thermal Energy, showcasing trust in the technology and engineering capabilities of Thermal Energy. The project is set to be completed within nine months.
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